Daily Comment
Daily Comment (April 13, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Equities are modestly lower this morning; oil is steady. We update the COVID-19 news. OPEC+ has a deal. Some comments on the Fed. Here are the details: COVID-19: The official number of global cases is 1,860,011 with 114,983 fatalities and… Read More »
Daily Comment (April 9, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] It’s Holy Thursday in the time of COVID-19. With financial markets closed tomorrow for Good Friday, our next report will be published on Monday, April 13. From all of us at Confluence Investment Management, we wish you a Happy Easter and Passover. … Read More »
Daily Comment (April 8, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Yesterday’s optimism about a potential peak in the coronavirus crisis is being undermined a bit today by reports of re-tightened lockdowns in some countries and the failure of EU finance ministers to agree on an aid program for hard-hit European countries. We… Read More »
Daily Comment (April 7, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] After yesterday’s strong market action, investors are again in risk-on mode based on optimism that the coronavirus pandemic may be peaking. We report on all the key developments relating to the virus as well as building pressure for a cut in oil… Read More »
Daily Comment (April 6, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Monday! Global equities are rising on hopes that the pandemic is stabilizing. We update the COVID-19 news. Here are the details: COVID-19: The official number of global cases is 1,280,046, with 69,789 fatalities and 265,462 recoveries. Here is the updated FT… Read More »
Daily Comment (April 3, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Friday! It’s employment Friday, although this may be one of the most irrelevant reports ever. Since the survey is conducted around the 10th of the month, much of the jump in claims won’t be reflected in this report. But, our quick… Read More »
Daily Comment (April 2, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! After a drubbing yesterday, we are seeing a rebound in global markets this morning. One of the factors helping sentiment is a 10% jump in crude oil prices. The White House is continuing to talk to Russia and the KSA,… Read More »
Daily Comment (April 1, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy April Fool’s Day! But please don’t expect any foolishness here! As always, we soberly review the latest U.S. projections on the course of the COVID-19 pandemic, which have rattled the markets so far this morning. We also note the Fed has… Read More »
Daily Comment (March 31, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] As March draws to a close today, we’re reminded of the old adage about the month: in like a lion, out like a lamb. After what we’ve all gone through during the last month, we certainly hope for a day that’s as… Read More »