Top 5 Charts of the Day – August 7th 2020
July Employment Report: 1.8 Million Jobs Added, 10.2% Unemployment Rate https://t.co/LeKFERKlo8 pic.twitter.com/BQ3DoWIgma
— Bill McBride (@calculatedrisk) August 7, 2020
This chart by BoA shows how far back in time the COVID shock has pushed economies, based on real GDP at the end of Q2 this year. Italy is back to real GDP levels of 1993, Greece is back to real GDP levels of Q1 '97 and Spain Q1 '02. Germany is back to just Q4 '10 and US to Q4 '14 pic.twitter.com/EQW499BANL
— Holger Zschaepitz (@Schuldensuehner) August 7, 2020
Global govt debt on course to fresh ATH. Debt/GDP ratio has reached almost 90% at the end of Q1 this year. Q2 numbers, when available, are highly likely to show, that global sovereign debt/GDP has reached a new high, surpassing the previous WWII peak of 104%, BoA says. pic.twitter.com/K7FJOigW5O
— Holger Zschaepitz (@Schuldensuehner) August 7, 2020
Closing the week with a special update on $DXY Daily Sentiment:
The day after FOMC (see last week's chart) reached Bottom 0.6% most oversold in 9 years. Very rare.
Since 2011 this was a near-perfect bottoming signal.
Monitoring for a turn – will revisit. Have a good weekend. pic.twitter.com/7r5epguGN4
— Macro Charts (@MacroCharts) August 7, 2020
'The Treasury bill market has doubled since March.' https://t.co/yXFJkijTyL via @SoberLook pic.twitter.com/OWe535UsYn
— Jesse Felder (@jessefelder) August 7, 2020