Daily Charts - Reshoring

$1 mm loss in the heart of the city, market seems to be cooling.

The number of US manufacturing employees has fallen from ~19mm in 1980 to ~12-13mm since 2010

An example of the challenges when trying to relocate supply chains.

If corporates do relocate supply chains it will put pressure on earnings especially since their is no slack in the labour market.

Fund managers have shifted their most favoured sector to healthcare from energy.

Snapchat was off a casual 43% today. John Hussman would call this chart “an interesting trip to nowhere”.

Is Walmart a good proxy for the broader US economy?

We are starting to see stress in credit markets demonstrated by widening spreads.

If you can pick the bottom of the market during a recession, you have historically been rewarded.

Demand has fallen for shipping, reverting to pre covid levels.

EM currencies have been more resilient against USD than DM currencies.

Mining companies pulled back capex since 2015.