The Daily Shot Brief – July 8, 2026
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United States
According to the New York Fed’s survey of consumers, inflation expectations rose at the one- and three-year horizons to multiyear highs, while five-year expectations remained stable.
United Kingdom
However, UK equities appear attractive on a relative basis, combining the lowest forward valuation among major developed markets with a high return on equity, supporting the case for outperformance versus European peers.
Euro Area
German growth remains significantly weaker than in the rest of the euro area, although growth has been rebounding everywhere recently.
Asia-Pacific
The Kospi has entered a bear market.
China
The Hang Seng Tech Index is still only slightly positive since 2020, sharply underperforming US tech shares.
Equities
The current level of the cyclically adjusted earnings yield implies very low returns for the coming decade.
Rates
Less forward-looking FOMC statements have historically been associated with larger yield moves and smaller declines in post-meeting implied volatility.
Energy
Oil prices jumped after the US and Iran traded fire. President Trump declared the ceasefire effectively over.
