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: 3/4/16 Global Macro Currents Mar4

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Greetings, We begin with the latest reports on the global services sector performance in February, which were quite disappointing. According to JPMorgan/Markit, “Growth of global services activity is at a 40-month low”. Source: Markit, JPMorgan Here are the service sector performance charts from select countries.1. France continues to struggle with persistent economic weakness as the

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The Daily Shot 1/28/16: Global Macro Currents Jan28

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Greetings, We begin with the statement from the Federal reserve. Here is a summary interpretation from Natixis. Source: Natixis The “monitoring” of international developments was interpreted as somewhat dovish – although depending on how one looks at it, this could just be wishful thinking. Nevertheless the euro and treasuries rallied. Gold, which has been moving higher

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The Daily Shot 11/12/15: Global Macro Currents Nov12

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Greetings, Let’s begin with China where industrial output remains under pressure. Electricity, cement, and steel production all contracted in October. Source: @TomOrlik Moreover, container freight index hit new lows pointing to falling trade activity. Source: @moved_average The selloff in industrial metals on the Shanghai Futures Exchange has been spectacular: aluminum, zinc, nickel, steel rebar all hit cycle lows.

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