Daily Comment
Daily Comment (August 2, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Friday employment day! We cover the data in detail below but the snapshot is generally in line with expectations. Payrolls were 164k, nearly bang on forecasts of 165k, although revisions lowered payrolls by a net 32k. The unemployment rate was unchanged… Read More »
Daily Comment (August 1, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Markets are dealing with the aftermath of the Fed meeting. China is slow-walking trade. The BOE met today. Osama bin Laden’s son is believed to have died. The MLB trade deadline big winner was Houston, with Atlanta coming in a… Read More »
Daily Comment (July 31, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! The FOMC meeting ends today. North Korea continues to fire off missiles. The baseball trading deadline occurs at 4:00 EDT today. Here is what we are watching this morning: The Fed: Yesterday, we noted the scenarios for today’s monetary policy. … Read More »
Daily Comment (July 30, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! The FOMC meeting begins today. The GBP continues its slide. Here are the details: The Fed: Although there is almost no chance the Fed won’t cut by 25 bps tomorrow, we are watching for two items. First, Powell’s language, especially… Read More »
Daily Comment (July 29, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Monday! It’s Fed week. The MLB trading deadline is Wednesday. There was unrest around the globe. Here are the details: The Fed: It is all but certain the FOMC will cut rates on Wednesday. Former Chair Janet Yellen came out in… Read More »
Daily Comment (July 26, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Friday! As slow as the news is trickling in today, it’s clear that we’re deep into the dog days of summer. Nevertheless, we have seen a few interesting tidbits, like an initial estimate showing moderate economic growth and falling inflation here… Read More »
Daily Comment (July 25, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! The big news today is the ECB. Although the central bank for the Eurozone did not cut rates as hoped, the narrative of the statement was dovish. However, the press conference dampened the bullish enthusiasm. Here is what we are… Read More »
Daily Comment (July 24, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Mueller testifies today; we mistakenly expected it yesterday. Although the testimony will be the focus of the media, it probably won’t move the financial markets. Here is what we are watching: Trade optimism: Equity markets rallied yesterday on news that… Read More »
Daily Comment (July 23, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! There are two big items today. As expected, Boris Johnson is now the new PM of the U.K. The IMF has lowered its global growth forecasts due to trade disruptions. And, Mueller testifies today. Here is what we are watching:… Read More »