Daily Comment
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 »
Daily Comment (March 9, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Global equities suffered a deep slide overnight; equity futures fell to limit down levels, so we are not sure how far they will decline on the open. The 30-year Treasury yield broke 1% and the 10-year T-note has fallen below 50 bps. … Read More »
Daily Comment (March 6, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] It’s Friday employment day, although the data is mostly irrelevant. This report covers February, before COVID-19 hit the U.S. economy. We detail the data below, but the quick read is that the data was very strong. As has been our practice, we… Read More »
Daily Comment (March 5, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Happy Thursday! After a strong equity market rally yesterday, which lifted stocks in Asia overnight, Europe turned lower and U.S. equity futures are also falling. We update COVID-19 news. The U.S. won a battle with China over global regulation. Turkey and Russia… Read More »
Daily Comment (March 4, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] After yesterday’s wild rollercoaster ride in the markets, we’re looking for a happier Wednesday. We provide an update to the COVID-19 panic and the confusing policy responses, as well as a recap of yesterday’s Super Tuesday primaries. On a less positive note,… Read More »
Daily Comment (March 3, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] It’s Super Tuesday! By late this evening, we should have a better sense of who is really competitive in the Democrats’ race for a presidential candidate. In the meantime, the COVID-19 virus remains in the spotlight. We provide our usual update and… Read More »