The past two years have not been kind to holders of ten-year Treasurys.  Source: The Daily Shot, Alpine Macro(Past performance is no guarantee of future results.)

The futures market now expects Fed Funds to be 120 bps lower next year.  Source: The Daily Shot(Past performance is no guarantee of future results.)

Economic growth estimates for next year have improved in recent months. Source: Bloomberg, The Daily Shot(Past performance is no guarantee of future results.)

The traditional equities and fixed-income model is under-performing the historic average. Source: Bloomberg, The Daily Shot(Past performance is no guarantee of future results.)

Churchill’s senior debt portfolio showing higher revenues and cash flows.   Source: Churchill Asset Management LLC(Past performance is no guarantee of future results.)

October’s labor report showed lower-than-expected job creation; a good inflation sign. Source: The Daily Shot(Past performance is no guarantee of future results.)

Though a slowdown for 4Q and 1Q 2024 is expected, the US economy shows few signs of it. Source: The Daily Shot(Past performance is no guarantee of future results.)

Blockbuster drugs Ozempic and Wegovy are driving Denmark’s manufacturing production. Source: Apricitas Economics(Past performance is no guarantee of future results.)

Industrial activity in Sweden surged in August, thanks to higher car and truck production. Source: The Daily Shot / OECD(Past performance is no guarantee of future results.)

September’s unexpected new job additions of 336,000 increased Fed hike concerns. Source: U.S. Bureau of Labor Statistics(Past performance is no guarantee of future results.)