Asset Allocation Reports

Asset Allocation Bi-Weekly – The FOMC Speaks (May 16, 2022)

by the Asset Allocation Committee | PDF On May 4th, the FOMC announced its policy changes.  The Fed moved its fed funds target by 50 bps, the fastest increase in 22 years; the last hike of this amount was in May 2000.  In the press conference, Chair Powell scotched the notion of a greater than… Read More »

Weekly Energy Update (May 12, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices have been volatile over the past few days.  A number of factors have been at play. However, the chart suggests a price range is developing between $100 to $110 per barrel. (Source: Barchart.com) Crude oil inventories unexpectedly rose 8.5 mb compared to… Read More »

Weekly Energy Update (May 5, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF It appears oil prices are attempting to create a trading range between $105 to $95 per barrel.  That may hold until the SPR release is complete. (Source: Barchart.com) Crude oil inventories unexpectedly rose 1.3 mb compared to a 0.2 mb draw forecast.  The SPR… Read More »

Asset Allocation Bi-Weekly – The Tale of Two Surveys (May 2, 2022)

by the Asset Allocation Committee | PDF The Conference Board Survey of Consumer Confidence and the University of Michigan Survey of Consumer Sentiment are two closely followed reports about the American consumer. Domestic consumption makes up about two-thirds of the U.S. economy, so insights into consumer attitudes may predict changes in the business cycle. The… Read More »

Weekly Energy Update (April 28, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF It appears oil prices are attempting to create a trading range between $105 to $95 per barrel.  That may hold until the SPR release is complete. (Source: Barchart.com) Crude oil inventories unexpectedly rose 0.7 mb compared to a 0.3 mb draw forecast.  The SPR… Read More »

Asset Allocation Quarterly (Second Quarter 2022)

by the Asset Allocation Committee | PDF In its efforts to combat inflation, the U.S. Federal Reserve has adopted a much more hawkish monetary policy stance through a combination of raising the fed funds rate and reducing its balance sheet. Global central banks, in contrast, have varying policy responses ranging from extensively accommodative to increasingly… Read More »

Weekly Energy Update (April 21, 2022)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices did break out of a descending triangle, which is bullish, but for the most part, we look for prices to be rangebound for the next six months during the SPR withdrawal. (Source: Barchart.com) Crude oil inventories unexpectedly fell 8.0 mb compared to… Read More »

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