Daily Comment

Daily Comment (January 17, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Happy Friday!  Equity markets continue to grind steadily higher to new record levels.  The White House officially nominated the two last open governor positions on the FOMC.  An update on the Iran missile attack and other Iran issues.  Germany is holding a… Read More »

Daily Comment (January 16, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Good morning!  Equity markets continue to grind steadily higher; in fact, it’s the third longest streak since 1995 of the major indices not moving more than 1% in either direction.  Why?  Our quick take is that we are seeing the combination of… Read More »

Daily Comment (January 15, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Good morning!  It was a very quiet overnight session as markets await the signing of the Phase One deal with China.  Here is what we are watching this morning: BREAKING:  Russian PM Medvedev resigned this morning along with the entire Russian government. … Read More »

Daily Comment (January 14, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Markets are quiet this morning as earnings season begins.  Trade is the biggest headline, as the U.S. and China are expected to sign a deal tomorrow.  Here is what we are watching this morning: Trade:  First, the U.S. and China are expected… Read More »

Daily Comment (January 13, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Happy Monday!  Much of the U.S. is digging out of wintry weekend weather.  Equities continue their grind higher.  Tensions in Iran soar after the government admitted it accidently downed a Ukrainian airliner.  The DPP wins big in Taiwan.  The U.S./China trade deal… Read More »

Daily Comment (January 10, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Happy employment day Friday!  We cover the data in detail below, but the quick take is that the data is a bit soft as nonfarm payrolls rose by only 145k, less than the 165k forecast.  The big news was a plunge in… Read More »

Daily Comment (January 9, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Financial markets are taking on a clear risk-on bias; equities continue to lift, bonds, gold and oil are struggling.  Here are the details: Ceasefire:  As we noted yesterday, Iran launched missiles against U.S. bases in Iraq.  The attack was a mere pinprick,… Read More »

Daily Comment (January 8, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] After a wild overnight session, risk assets are rising this morning.  Here are the details: About last night:  As we were watching the Blues dispatch the Sharks, Iran launched a series of missile strikes against two bases in Iraq.  Market reaction was… Read More »

Daily Comment (January 7, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Financial and commodity markets are rather quiet this morning as we await Iran’s response.  Investor sentiment is starting to recover as risk assets are recovering.  China reported its foreign reserves.  We are watching a new pneumonia emerging from China.  As a side… Read More »

Daily Comment (January 6, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Happy Monday!  It’s another risk off morning, as issues surrounding Iran dominate the news and the markets.  We update the situation in the Middle East this morning.  In other news, Hong Kong has a new administrator and Phase One of the U.S./China… Read More »

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