Daily Comment
Daily Comment (April 8, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Monday! Although we are in spring, a massive winter storm is moving over the northern plains and will delay planting in the northern Corn Belt. It will also increase flooding in the major river systems in a couple of weeks. Here is what we… Read More »
Daily Comment (April 5, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s employment Friday! We cover the data in detail below, but the quick take is that it is a nearly perfect report. Payrolls recovered, unemployment remained low and wage pressures eased. Here is what we are watching today: Trade progress: President Trump[1] and Chairman Xi[2]… Read More »
Daily Comment (April 4, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Markets are quiet this morning; initial claims fell to a 49-year low. Here is what we are watching: Trade progress: President Trump and Vice Premier Liu are scheduled to meet at the White House today, a sign that trade talks are heading toward some sort… Read More »
Daily Comment (April 3, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s a “risk-on” morning. Equities are up around the world. It’s also the 70th anniversary of NATO.[1] Here is what we are watching this morning: A trade deal with China: Reports suggest the U.S. and China are nearing an agreement on trade.[2] The two sides… Read More »
Daily Comment (April 2, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Markets are quiet after a strong rally yesterday. Here is what we are watching this morning: Turkey fallout: The stunning losses in local elections have put President Erdogan on notice—the economy is suffering and he needs to address the problem. Addressing a weakening economy with… Read More »
Daily Comment (April 1, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s the beginning of Q2 and April Fools’ Day. Equities are up around the world. Here is what we are watching this morning: China better, but elsewhere struggles: China’s manufacturing PMI data came in better than forecast;[1] the Caixin number for March was 50.8, exceeding… Read More »
Daily Comment (March 29, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Good morning, all! Equity markets are higher on progress being made in U.S./China trade talks. The overnight news was a bit quiet, but here are the stories we are following today: Social media bias: On Thursday, Facebook (FB, $165.55) was accused of violating the Fair… Read More »
Daily Comment (March 28, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Opening Day! Even as cool temperatures linger in much of the country, major league baseball opens in the U.S. today, one of the official signs of summer. Here’s something to make you feel older: for the first time in the 21st century, there are… Read More »
Daily Comment (March 27, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equities are modestly lower in a quiet news environment. The big story remains in the long end of the yield curve as the 10-year T-note yield falls below 2.40%. Here is what we are watching this morning: Why are bonds rallying? We suspect there are… Read More »