The Daily Shot Brief – May 29, 2026

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United States

With income growth flattening out, consumers dipped into savings to maintain consumption. The savings rate fell to secularly low levels, limiting further support for household spending.

Japan

Tokyo’s inflation decelerated, attributed to a temporary policy factor—an earlier-than-expected start to a free water charge program.

Asia-Pacific

Korea’s National Pension Service raised its domestic equity allocation target to 20.8% from 14.9%. This sharply reduces the need for forced domestic equity selling and implies that rebalancing flows will increasingly favor domestic bonds and overseas assets through 2027.

Source: Barclays Research

Emerging Markets

Actively managed emerging-markets ETFs are gaining traction as asset managers seek alternatives to increasingly AI- and tech-concentrated benchmark indexes.

Source: @markets Read full article

Equities

Implied correlation for members of the S&P 500 Index has fallen to record-low levels.

Rates

Short-term rate expectations remain a significant driver of longer-term bond yields.

Energy

Including stock in the Strategic Petroleum Reserve (SPR), US crude oil inventories have fallen to the lowest level since January 2025.