The Daily Shot Brief – July 24, 2026
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United States
Initial jobless claims fell sharply to the lowest level since 1969, likely driven by seasonal distortions from annual auto plant shutdowns.
Euro Area
The European Central Bank left rates unchanged, matching consensus expectations. However, policymakers delivered a hawkish message focused on upside inflation risks, aligning with market expectations for a potential rate increase at the September meeting.
Japan
Headline inflation accelerated to 1.7% year over year on energy base effects. Core inflation (less fresh food) also edged up, but core-core inflation (less fresh food and energy) slowed.
China
Utilized foreign direct investment rose in June, but the year-to-date total still contracted, highlighting ongoing headwinds for foreign capital inflows.
Emerging Markets
Earnings growth is expected to increase across EM sectors.
Equities
The market cap of the US is much higher than its global GDP and revenue shares.
Rates
The USD inflation swap market remains remarkably calm relative to its EUR counterpart.
Global Developments
Households in Europe allocate a much smaller share of their assets to equities than those in the US and Canada.
