Research & News
Daily Comment (June 15, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment begins with a discussion on the Federal Reserve’s latest interest rate decision. Next, we review the latest central bank policies in the eurozone and China. Lastly, we end with why recent developments in the Middle East and Europe… Read More »
Weekly Energy Update (June 15, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices may be establishing a new trading range between $67 and $75 per barrel. (Source: Barchart.com) Commercial crude oil inventories rose 7.9 mb when compared to the forecast draw of 1.5 mb. The SPR fell 1.9 mb, putting the total build at 6.0… Read More »
The Case for Hard Assets: An Update (June 2023)
by Bill O’Grady & Mark Keller | PDF Background and Summary Secular markets are defined as long-term trends in an asset. There are both secular bear and bull markets. In most markets, there are also cyclical bull and bear markets, often tied to the business cycle, and in some markets, there are seasonal bull and… Read More »
Daily Comment (June 14, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with updated oil demand and supply forecasts from the International Energy Agency. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets today, including more signs of faltering… Read More »
Daily Comment (June 13, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with plenty of China news, including signs of an investor exodus from the country and efforts by the central bank to boost economic growth. We next review a wide range of other international and U.S. developments with the… Read More »
Bi-Weekly Geopolitical Report – The Issue of the Terms of Trade (June 12, 2023)
Bill O’Grady | PDF In a recent Bi-Weekly Geopolitical Report, we discussed the emergence of the petroyuan. One of the important aspects of that report was that foreign nations were beginning to pay for oil in their own currencies. As we noted in the report, George Shultz and Henry Kissinger negotiated a deal with the… Read More »
Daily Comment (June 12, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with a couple of quick notes on the war in Ukraine and Russia’s relationship with the United States. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets… Read More »
Daily Comment (June 9, 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 future path of interest rates and why we still believe that the hype surrounding artificial intelligence is far from over. Next, we examine the struggles of the West to address the growing… Read More »
Daily Comment (June 8, 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 reasons that central bankers may have for not being finished with rate hikes. Next, we explain the possible liquidity issue in international markets. Lastly, we discuss why a possible BRICS currency is… Read More »