The Daily Shot Brief – May 27, 2026
This is the Daily Shot Brief, an abridged version of The Daily Shot. If you would like to subscribe to the full-length Daily Shot (see example), please register here.
United States
The nearly $160 billion of IEEPA tariff refunds are being disbursed rapidly, with almost $20 billion already paid out.
Asia-Pacific
The Reserve Bank of New Zealand held its Official Cash Rate at 2.25%, in line with expectations. The decision was a narrow 3-3 vote, with the governor’s casting vote maintaining the status quo. The accompanying guidance was hawkish, with the central bank signaling that rate hikes are “likely” in upcoming meetings and sharply raising its rate forecast path through 2026, citing persistent inflation risks despite a weaker growth outlook.
China
China’s crude oil imports are on track to hit a decade low in May.
Equities
Trailing three-month stock-bond correlation has reached multi-decade highs.
Credit
Nvidia’s 5-year CDS trades below the US sovereign CDS, highlighting the company’s exceptional credit quality.
Commodities
Aluminum on the London Metal Exchange is trading at its steepest premium to Shanghai futures since March 2022.
Food for Thought
There’s evidence that AI is unlocking a rise in “solopreneurship.”
