Daily Comment
Daily Comment (June 5, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with some trends in the little-followed monthly report on construction spending. The data suggests that the re-industrialization of the U.S. economy, which we have long expected, is now showing up in the statistical data. We next review a… Read More »
Daily Comment (June 2, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment begins with the reasons we remain cautious about recent market optimism. We then explain why the Bank of Japan’s move away from yield curve control could hurt bond prices. Finally, we discuss the impact the U.S.-China rivalry has… Read More »
Daily Comment (June 1, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment begins with our thoughts on the ongoing debate as to whether the Federal Reserve should hike or pause at its next meeting. Next, we explain why the European Union has taken a vested interest in the Western Balkans.… Read More »
Daily Comment (May 31, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with some unexpectedly soft economic figures out of China, which are weighing on global stock markets so far today. We next review a wide range of other international and U.S. developments with the potential to affect the financial… Read More »
Daily Comment (May 30, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with an update on the weekend’s preliminary deal to lift the federal debt limit until 2025. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets today, including… Read More »
Daily Comment (May 26, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment starts with our thoughts about the potential benefits and risks associated with generative artificial intelligence (AI). Next, we examine the impact that a German recession would have on the European Central Bank’s policy rate decision. Finally, we discuss… Read More »
Daily Comment (May 25, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment starts with an update on the debt ceiling negotiations. Next, we argue that the Fed may pause this year but is not likely to pivot. We end the report with our thoughts about the rising likelihood of a… Read More »
Daily Comment (May 24, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with a few new developments in Russia’s invasion of Ukraine. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets today, including new evidence of the threat from… Read More »
Daily Comment (May 23, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with some key data showing how reduced demand for goods is slowing the global economy, even as post-pandemic demand for services continues to grow. We next review a wide range of other international and U.S. developments with the… Read More »