The Daily Shot Brief – May 5th, 2022

Greetings,

 

United States: First, the Federal Reserve hiked rates by 50bps, as expected.

Source: The Daily Shot

 

Here is how real rates (TIPS yield) reacted to Powell’s comment of a 75bp increase being off the table for now.

Source: The Daily Shot

 

Equities: In equity markets, the P/E ratio compression has been severe in 2022 (see chart).

Source: Hugo Ste-Marie, Portfolio & Quantative Strategy Global Equity Research, Scotia Capital

 

Energy: As US refinery runs deteriorate, total refined product inventories continue to shrink.

Source: @HFI_Research

 

Emerging Markets: India’s bond yields surged after the RBI unexpectedly hiked rates by 40bps this week.

Source: The Daily Shot

 

Brazil’s central bank hiked the target rate by 100bps again, signaling that further rate increases may be smaller.

Source: The Daily Shot

 

Food for Thought: Lastly, let’s look at US pandemic-era unemployment programs:

Source: BANK OF ITALY  Read full article

Edited by William Villacis

Contact the Daily Shot Editor: Brief@DailyShotResearch.com


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