Daily Comment
Daily Comment (March 20, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Good morning and happy Friday! “There are decades where nothing happens, and there are weeks where decades happen.” This quote, misappropriated to Lenin, seems to capture much of how things feel right now. It’s a “green screen day” with equity futures rebounding… Read More »
Daily Comment (March 19, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Today is the spring equinox; it’s hard to say if this is a good or bad omen. We update COVID-19 news. Although there is much to say about the financial markets, to some extent, it can be summed up succinctly—there is a… Read More »
Daily Comment (March 18, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Well, it’s Wednesday, and we face another day right out of a post-apocalyptic zombie movie. While there is still no sign of zombie armies marching on Washington, there is a more worrying sign that global financial markets are seizing up in a… Read More »
Daily Comment (March 17, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Happy St. Patrick’s Day! To celebrate the holiday, we think it would be great if the markets could end the day “in the green.” However, much will depend on news flow related to the COVID-19 “black swan.” With so many fast-moving developments,… Read More »
Daily Comment (March 16, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] It has been a very busy three days. We update the COVID-19 news. Risk assets reacted favorably to Friday’s press conference at the White House. However, we are not seeing any follow-through today; global equities are lower and bond yields are down… Read More »
Daily Comment (March 13, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Happy Friday the 13th! Let’s not bury the lede—equities are enjoying a strong recovery this morning after a historic decline yesterday. Europe is lifting as well. As is our usual practice, we update news on COVID-19. We also discuss how the virus… Read More »
Daily Comment (March 12, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Welcome to the bear market. The Dow Jones Industrials entered a bear market yesterday and the other two major indices, the S&P 500 and the NASDAQ, will certainly enter bear market territory on the open. We cover COVID-19 this morning. The ECB… Read More »
Daily Comment (March 11, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] On this day in 1918, the first cases of Spanish influenza were reported in Ft. Riley, Kansas. How ironic it is that we’re now dealing with another big epidemic, though there is still no indication that it will be a mass killer… Read More »
Daily Comment (March 10, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Happy Tuesday! The markets are looking better than yesterday, largely based on signs that the White House has swung behind the idea of significant fiscal measures to offset the negative impact of the COVID-19 panic. We update the latest news on the… Read More »