The Daily Shot 7/1/16: Global Macro Currents Jul1

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Greetings,  We begin with Thursday’s central bank activity globally.1. Mark Carney’s speech hinted at near-term easing by the BoE. Source: WSJ The British pound sold off sharply in response to Carney’s remarks … Source: @barchart​ … while the FTSE 100 hit a 10-month high. 2. It seems that the ECB may be considering revising the

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The Daily Shot 6/17/16: Global Macro Currents Jun17

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Greetings,   First, a quick administrative note. When possible/appropriate, we provide a link to further reading on the subject. Sources (listed below each chart) that are underlined represent links. Also, we often show the Twitter handle for references, which is a unique identifier that makes it easier for readers to learn more about each source.

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The Daily Shot 6/10/16: Global Macro Currents Jun10

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Greetings, We begin with the United States where wholesale inventories posted the biggest gain in 10 months. Goldman’s economists raised their Q2 US GDP forecast to 3.2% in response to the higher than expected inventories build. Source: Goldman Sachs This 3.2% GDP growth forecast is inconsistent with the latest Markit PMI report (discussed a couple of

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The Daily Shot 6/3/16: Global Macro Currents Jun3

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Greetings, We begin with several updates on commodities. 1. Soybean meal futures continue to rocket higher. While China’s rising demand for feed is one of the factors, at this point hot money is all over this market. Source: @barchart 2. The situation is similar with US sugar and soy futures, where the rally has accelerated. Source:

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The Daily Shot 5/27/16: Global Macro Currents May27

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Greetings, We begin with the United States where new capital goods orders (ex-aircraft) continue to decline. Weak Capex is likely to keep productivity growth low for some time to come. According to Merrill Lynch, investors are keenly aware of this situation and apparently would like to see more Capex spending by companies. So far, however,

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