Daily Comment
Daily Comment (August 10, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Markets are down as investors are concerned that a possible collapse of the Turkish lira could spill over to the Eurozone. Here is what we are watching: Economic warfare? Proposed U.S. sanctions on Turkey and Russia have caused the currencies in the respective countries to fall… Read More »
Daily Comment (August 9, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Markets are quiet this morning. Here is what we are watching: Trade update: Russia is facing another round of sanctions,[1] these tied to the chemical weapons poisoning in April of British citizen and former Russian spy Sergei Skripal and his daughter. The sanctions are part of… Read More »
Daily Comment (August 8, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Today’s trade is becalmed—there is nothing major happening in any markets thus far. This sort of activity is very typical for August. Here is what we are watching today. Trade news: The U.S. announced that $16 bn of Chinese imports will face an additional 25% tariff.[1] … Read More »
Daily Comment (August 7, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] We are seeing some risk-on behavior this morning; global equities are moving higher, the dollar is a bit weaker, precious metals are stronger and Treasury rates are rising. Here is what we are watching today. Primaries today: The media will be mostly focused on primaries being… Read More »
Daily Comment (August 6, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Markets are rather quiet this morning, a reflection of the “dog days” of summer. However, there was a lot of news over the weekend. Let’s dig in: Trade talks: China indicated it is preparing for a protracted trade war.[1] In a new turn, Chinese state media… Read More »
Daily Comment (August 3, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Beer Day![1] Also, it’s employment data day. We detail the data below but the quick take is that the data is a bit better than expected but not so strong as to change policy. Financial markets are treating the report with some caution, mostly due… Read More »
Daily Comment (August 2, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s a risk-off morning. The news driving the weakness in equities appears to be related to escalating trade tensions with China. Here is what we are watching this morning: Trade update: Yesterday, there were reports that the White House was considering increasing the tariff rate on… Read More »
Daily Comment (August 1, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy August! Summer is winding down—it seems like it just started. Here is what we are watching: The Fed: The meeting ends this afternoon. No rate hike is forecast.[1] The only item of interest will be the statement, which probably won’t tell us anything. Even so,… Read More »
Daily Comment (July 31, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s July 31st, the Feast Day of St. Ignatius of Loyola, the founder of the Society of Jesus (Jesuits). Here is what we are watching: BREAKING: CHINA SEEKING NEW TRADE TALKS TO DEFUSE TRADE WAR. EQUITIES RISE ON NEWS. BOJ: The BOJ has spoken and not… Read More »