Research & News
Weekly Energy Update (March 16, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil decisively broke its recent $72-$82 per barrel trading range. Fears of recession, exacerbated by widespread banking problems, weighed heavily on oil prices. (Source: Barchart.com) Crude oil inventories rose 1.6 mb on forecast. The SPR was unchanged. In the details, U.S. crude oil… Read More »
Daily Comment (March 15, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with the latest on the Silicon Valley Bank crisis. Although the U.S. banking system appeared to be stabilizing yesterday, the jitters touched off by SVB have now sparked concerns about major European banks. We next review a wide… Read More »
Daily Comment (March 14, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with an update on the Silicon Valley Bank crisis and how it appears to be calming down, at least for now. We next review a wide range of other international and U.S. developments with the potential to affect… Read More »
Daily Comment (March 13, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with a discussion of the U.S. banking system, which has now seen the collapse of several sizable banks in the last week. Over the weekend, federal regulators put a plan into place that appears to have removed the… Read More »
Asset Allocation Bi-Weekly – The Importance of the Policy Mix (March 13, 2023)
by the Asset Allocation Committee | PDF Based on the strong U.S. economic data so far this year, investors have again become worried that the Federal Reserve will continue to hike interest rates aggressively and keep them high for a prolonged period. We agree that is a significant risk, and the rate hikes to date… Read More »
Daily Comment (March 10, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Good morning! Today’s Comment begins with our thoughts on the sudden sell-off in equities yesterday. Next, we go over the latest developments in the Middle East and Asia. Finally, we discuss why we are not confident that Haruhiko Kuroda’s exit from the Bank… Read More »
Daily Comment (March 9, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Good morning! Today’s Comment begins with a discussion about the growing appeal of the U.S. dollar. Next, we examine what the potential impact could be for companies as governments move away from neoliberal policies. Finally, we review why the recent decline in… Read More »
Weekly Energy Update (March 9, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil remains in a trading range between $72-$82 per barrel. (Source: Barchart.com) Crude oil inventories fell 1.7 mb compared to a 1.9 mb build forecast. The SPR was unchanged. In the details, U.S. crude oil production declined 0.1 mbpd to 12.2 mbpd. Exports… Read More »