Daily Comment

Daily Comment (August 22, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] We cover the Fed minutes below!  The G-7 summit is this weekend.  Tensions between Japan and South Korea are rising.  Quietly, overnight, the CNY fell to an 11-year low.  Here is what we are watching: The Fed minutes: There were three points… Read More »

Daily Comment (August 21, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] It’s Fed minutes day!  Equities are higher this morning, in what we are dubbing the “Seinfeld rally” because it seems to be driven by…nothing!  Although there was news overnight (which we discuss below), none of it reasonably explains the rally we are… Read More »

Daily Comment (August 20, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Markets are mostly quiet this morning, more typical of late August.  Here is what we are watching: G-7 Summit: Japanese government sources say the Group of Seven (G-7) summit this weekend in France will probably not adopt a joint communiqué because of… Read More »

Daily Comment (August 19, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Monday!  Equity futures are pushing higher again this morning after the U.S. gives Huawei (002502, CNY 2.95) a 90-day extension.  It’s a big week—Fed minutes, the Jackson Hole meeting and the G-7 next weekend.  Treasury yields are higher and gold is… Read More »

Daily Comment (August 16, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Friday!  Equity futures are higher this morning on hopes that the president is further retreating on tariffs.  Treasury yields are higher and gold is retreating.  Central banks around the world are moving to ease.  Here is what we are watching: Backing… Read More »

Daily Comment (August 15, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Equity futures have rebounded in the past hour, likely on news that President Trump and Chairman Xi are exchanging letters and talking on the phone.  Economic worries continue to dominate.  And, how will we remember the Hickenlooper campaign?  Here is what we… Read More »

Daily Comment (August 14, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] It’s mid-week in what has been a busy week.  President Trump blinks (sort of) on trade.  Equity markets don’t follow through, mostly due to lingering trade uncertainty and mounting evidence of global economic weakness.  Hong Kong remains a flashpoint.  Here is what… Read More »

Daily Comment (August 13, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] It’s an August Tuesday.  Risk markets are falling again this morning.  Although there is a lot of news most of it is a continuation of recent events.  Here is what we are watching: Hong Kong:  Protests continue this morning; check-ins have been… Read More »

Daily Comment (August 12, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] It’s an August Monday.  Equities are under pressure again this morning and risk assets, in general, are weaker.  Here is what we are watching: China and the dollar: For the third consecutive day, the PBOC fixed the CNY/USD exchange rate above 7. … Read More »

Daily Comment (August 9, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Friday! Equities are giving back some of yesterday’s stronger gains.  The Italian government is near a collapse.  U.K. economy disappoints.  U.S. holds off on tech decisions.  And, five decades ago today, the famous album cover photo of Abbey Road was snapped. … Read More »

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