The Daily Shot Brief – June 23, 2026
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United States
Here is an overview of market actions during the first year of each new Fed chair (open an interactive chart).
United Kingdom
Britain has steadily lost global market share across most international financial activities since Brexit.
Euro Area
The flash PMIs for the euro area indicate a slight slowdown in factory growth, while the services sector downturn eased. The data were largely collected before the US–Iran agreement, suggesting sentiment could improve further.
Asia-Pacific
The Kospi plunged as heavy selling in Samsung Electronics and SK Hynix triggered a trading halt, with elevated retail leverage, forced liquidations, and leveraged ETF rebalancing amplifying a broader tech-driven selloff.
China
Credit growth and fiscal spending slowed in Q2. BCA expects increased fiscal support in the second half of the year, focused on grid- and AI-related investments, providing only limited support for consumer demand.
Equities
The year-over-year change in margin debt, when expressed as a percentage of GDP, has reached a new record high. Historical peaks in this measure have foreshadowed a downturn in equities.
Rates
Front-end rates have surged to the highest level this year, while long-end yields are trading near the year-to-date averages.
