Greetings,

The United States: The number of unemployment applications has now surpassed the average of 2018, 2019, and 2022 levels.

Continuing claims are now well above last year’s levels.

Equities: Equities have diverged from bonds as recession risks resurface.

Credit: IG fund flows remain robust.

Rates: Flows into Treasury funds have been strong.

China: The PPI weakness has been driven by upstream price declines.

Food for Thought: NYC hotel prices:

Edited by Josh Oldmixon

Contact the Daily Shot Editor: Brief@DailyShotResearch.com

Subscribe to the Daily Shot Brief