Daily Comment
Daily Comment (July 25, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Markets are quiet this morning, typical for mid-summer. Here is what we are watching: Juncker to the White House: The president of the EU Commission, Jean-Claude Juncker, visits the White House today.[1] It is expected he will offer the U.S. some sort of narrow trade pact… Read More »
Daily Comment (July 24, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s a quiet Tuesday so far. Equity markets are rising around the world and the White House has been mostly dormant this morning. Here is what we are watching: Chinese stimulus: Since the mid-1990s, China has managed its economy for high levels of growth. Most of… Read More »
Daily Comment (July 23, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Although it was a quiet weekend, we have had a busy morning. Here is what we are watching: Iran: There was media sniping this morning, which appears to have started in Iran. First, President Rouhani of Iran warned the U.S. not to escalate tensions with his… Read More »
Daily Comment (July 20, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] There is a lot going on. Let’s dig in: The president speaks: For the most part, President Trump has been opposed to a weak dollar. At Davos this year, Treasury Secretary Mnuchin suggested a weaker dollar might be in U.S. interests if the goal was a… Read More »
Daily Comment (July 19, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Global equity markets are lower this morning. The EuroStoxx 50 is down 0.3% from the last close. In Asia, the MSCI Asia Apex 50 was down 0.2% from the prior close. Chinese markets were down, with the Shanghai composite down 0.5% and the Shenzhen index down… Read More »
Daily Comment (July 18, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equity markets are quiet this morning; the biggest market moves are in currencies and commodities. The dollar is up this morning in the aftermath of the Powell testimony, which is dragging commodities and emerging markets lower. Here is what we are watching: Google fined: Google (GOOG,… Read More »
Daily Comment (July 17, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Tonight’s midsummer classic, the All-Star Game, is really the official midpoint of summer. Markets are quiet this morning. Here is what we are watching: Did the president go too far? Criticism of President Trump’s performance at the press conference with Russian President Vladimir Putin was widespread. … Read More »
Daily Comment (July 16, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Monday! The media is focused on the Trump/Putin meetings in Helsinki but financial markets are mostly ignoring the spectacle. The biggest major market move is in oil, which we discuss below. Here is what we are watching this morning: China GDP: China’s Q2 GDP[1] rose… Read More »
Daily Comment (July 13, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equity markets are mixed this morning as investors balance expectations of stronger earnings and rising trade tensions. The British pound fell due to political uncertainty and the dollar has strengthened against global currencies. Below are the news stories we are following today: No U.K.-U.S. trade deal?… Read More »