Research & News
Daily Comment (April 17, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with an apparent assassination attempt against Japanese Prime Minister Kishida. Although Kishida escaped unharmed, the security failure raises concerns for leaders attending the Group of Seven summit in Japan next month. We next review a wide range of… Read More »
Daily Comment (April 14, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment begins with the market’s reactions to the reduction of supplier price pressures in March and last week’s jump in unemployment claims. Next, we give our thoughts on commercial real estate and its potential threat to the economy. Finally,… Read More »
Daily Comment (April 13, 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 why monetary policymakers are reluctant to articulate a coherent message on future policy. Next, we give our thoughts about a potential credit crunch. Lastly, we review the latest headlines coming out of Asia.… Read More »
Weekly Energy Update (April 13, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil gapped higher in early April on reports that OPEC+ was cutting production targets. It has held those gains and is now moving above chart resistance at $82 per barrel. (Source: Barchart.com) Commercial crude oil inventories rose 0.6 mb compared to the forecast… Read More »
Daily Comment (April 12, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with updated projections for global economic growth from the International Monetary Fund. 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 that China… Read More »
Daily Comment (April 11, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with key news on the global technology sector, including data showing a steep downturn in personal computer shipments and increasing regulatory pressure on the evolving artificial intelligence industry. We next review a wide range of other international and… Read More »
Daily Comment (April 10, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with the latest on the big leak of classified U.S. intelligence documents that was discovered late last week. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets… Read More »
Asset Allocation Bi-Weekly – Increasing Concerns About Commercial Real Estate (April 10, 2023)
by the Asset Allocation Committee | PDF Last month’s failure of Silicon Valley Bank (SIVB, $106.04) showed that the institution had vulnerabilities in both its assets and its liabilities. On the asset side of its balance sheet, the bank had too much exposure to longer-maturity government bonds, which depreciated sharply as the Federal Reserve aggressively… Read More »
Daily Comment (April 6, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Happy Maundy Thursday! Today’s Comment starts with our thoughts about tomorrow’s job report. Next, we discuss possible substitutes to the equity and futures markets to gauge investor reaction to the labor market data. Lastly, we review the latest development in the conflict… Read More »