Greetings,
United States: Factory activity across the country has been surprising to the downside.
![The Daily Shot Brief – May 20th, 2022](https://thedailyshot.com/wp-content/uploads/US-Philly2205200438.png)
Europe: In the United Kingdom, there are now more job vacancies than unemployed workers.
![The Daily Shot Brief – May 20th, 2022](https://thedailyshot.com/wp-content/uploads/UK-Vacancies-per-unemployed-worker2205200438.png)
China: The central bank cut the five-year rate to support the struggling housing sector.
![The Daily Shot Brief – May 20th, 2022](https://thedailyshot.com/wp-content/uploads/CH-Cut2205200438.png)
![The Daily Shot Brief – May 20th, 2022](https://thedailyshot.com/wp-content/uploads/CH-Cut-ST2205200438.png)
Equities: Fund managers haven’t been this underweight tech since 2006.
![The Daily Shot Brief – May 20th, 2022](https://thedailyshot.com/wp-content/uploads/EQ-FMS-Fund-managers-are-most-underweight-tech-since-20062205200438.png)
Also, this has been the worst slump in consumer discretionary stocks since the financial crisis.
![The Daily Shot Brief – May 20th, 2022](https://thedailyshot.com/wp-content/uploads/EQ-AAA-Consumer-Discr2205200438.png)
Global Developments: The USD took a hit on Thursday despite the tailwind of increased global volatility.
![The Daily Shot Brief – May 20th, 2022](https://thedailyshot.com/wp-content/uploads/GL-DXY2205200438.png)
Food for Thought: Lastly, let’s take a look at the divergence between global food production and prices.
![The Daily Shot Brief – May 20th, 2022](https://thedailyshot.com/wp-content/uploads/VTC-GLobal-food-production-and-prices-AAA2205200438.png)
Edited by Alexander Bowers
Contact the Daily Shot Editor: Brief@DailyShotResearch.com