Daily Comment

Daily Comment (April 12, 2017)

by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] SOS Tillerson is in Moscow as tensions are rising.  The White House is accusing the Kremlin of having prior knowledge of the sarin attack in Syria and attempting to cover up the attack.  Putin is suggesting that the U.S. is being “duped” by rebels… Read More »

Daily Comment (April 11, 2017)

by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] U.S. equity markets continue to meander; hopes for fiscal support continue to buoy equities but there are growing worries that the administration will fail to deliver.  Geopolitical issues are a concern as well.  Sean Spicer, the administration’s press secretary, seemed to add barrel bombs… Read More »

Daily Comment (April 10, 2017)

by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Global markets are generally quiet this morning as investors try to discern how to handle President Trump’s new muscular exercise of foreign policy.  After reading and reflecting over the weekend, we offer our take on the missile strike against Syria.  First, this is a… Read More »

Daily Comment (April 7, 2017)

by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Happy Employment Data Day!  We cover the data in detail below but the payroll data, showing only a 98k rise, was quite disappointing.  We suspect seasonal factors played a role as February weather was unusually mild while March was colder.  It should also be… Read More »

Daily Comment (April 6, 2017)

by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Most of the time, Fed minutes are snoozers.  On the other hand, there is often real action within the FOMC.  The full meeting transcripts are published with a five-year lag and they show verbal sniping and open disagreement.  By contrast, the minutes are sanitized… Read More »

Daily Comment (April 5, 2017)

by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Yesterday, Richmond FRB President Lacker announced he was stepping down immediately after admitting he was involved in a leak of confidential information to an analyst with Medley Advisors, a well-connected Washington think tank.  In October 2012, Medley published details of Fed deliberations that were… Read More »

Daily Comment (April 4, 2017)

by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] It’s another quiet and mostly sluggish day in global markets.  The French are holding a presidential debate today at 8:40 pm local time (2:40 EDT) that will be closely watched.  Current polling hasn’t changed; Le Pen and Macron will likely win the first round… Read More »

Daily Comment (April 3, 2017)

by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] BREAKING: There was a bombing on a St. Petersburg subway that has killed at least 10 and injured 50.  This is still a developing story.  Thus far, no group has claimed responsibility.  With the recent widespread protests (according to reports, nearly 100 cities have… Read More »

Daily Comment (March 31, 2017)

by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Global equity markets had a weak tone overnight but much of that is probably related to quarter-end adjusting.  We did see good Chinese data (see below) and sentiment surveys remain robust.  For example, the National Association of Manufacturers’ outlook survey hit a new all-time… Read More »

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