Daily Comment
Daily Comment (April 22, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Today is Earth Day and also Lenin’s birthday. But please don’t accuse us of implying a connection! Rather, we’re focused today on the latest coronavirus news, including the Senate’s passage of new PPP funds, and signs that oil prices may be stabilizing.… Read More »
Daily Comment (April 21, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Tuesday! Or if not “happy,” at least things are “interesting.” U.S. oil prices yesterday not only went negative, but deeply negative. As always, we discuss the coronavirus crisis and its latest implications below, along with reports of a new government in… Read More »
Daily Comment (April 20, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning and happy Monday! Equities are lower this morning, but the market catching most of the attention is oil. In equities, there is a large short position developing against the S&P 500. We update the COVID-19 news. Here are the details:… Read More »
Daily Comment (April 17, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning and happy Friday! Equities are rebounding this morning on a positive drug trial. China’s GDP turns negative. We update the COVID-19 news. Here are the details: COVID-19: The number of reported cases is 2,169,022 with 146,071 deaths and 522,264 (yes,… Read More »
Daily Comment (April 16, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Equities are rebounding this morning. We update the COVID-19 news and initial claims. The Weekly Energy Update is available. Here are the details: COVID-19: The number of reported cases is 2,076,015 with 138,000 deaths and 522,881 recoveries. Here is the… Read More »
Daily Comment (April 15, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Today’s risk-off stance in the markets comes as we’re finally getting earnings and economic data that more fully reflect the impact of the coronavirus crisis. Several figures have come in worse than anticipated (see below), tempering the recent positive vibe from government… Read More »
Daily Comment (April 14, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Today’s uptick in the markets appears to stem in large part from chatter about COVID-19 lockdown restrictions being eased in the coming weeks. Of course, other data shows that in some countries new virus cases and deaths are still rising strongly, so… Read More »
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 »