Max Nisen is a Bloomberg Gadfly columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From the world's declining appetite for shiny watches to rare euro optimism, here are four charts that tell you what you need to know in business today.

Off Trend
Banking on a recovery in demand for blingy Swiss watches? Prepare to be disappointed.
Source: Federation of the Swiss Watch Industry
Less Is Still More
Rising domestic production and stagnant demand mean that Donald Trump's proposed strategic oil reserve selloff is mostly symbolic.
Source: Energy Information Administration, Bloomberg Gadfly analysis
Note: Data for 2017 and 2018 are implied by assuming sales of 34.4 million barrels of strategic reserves each year and using government estimates of U.S. net oil imports.
Cool it, Dan
Honeywell is fighting a low-key slide deck insurgency against Dan Loeb's campaign for an aerospace spinoff.
Source: Bloomberg
On the Up and Up
Don't worry, Angela; good economic news is piling up, and this euro rally is no mirage.
Source: Bloomberg
Note: Month-end values

And don't miss David Fickling on the ongoing rot at Noble Group:  "... commodity traders are famous for their ability to run on little more than a contacts book and an internet connection. While there are assets left to match Noble's pile of liabilities, its lenders have little to gain from pushing it into default."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

To contact the author of this story:
Max Nisen in New York at

To contact the editor responsible for this story:
Mark Gongloff at