Daily Comment
Daily Comment (October 9, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] On the eve of trade talks, hopes of a thaw are boosting risk markets this morning. Powell coos. Fed minutes at 2:00. Here is what we are watching today: Trade thaw? Equity futures lifted this morning on reports that China, despite all… Read More »
Daily Comment (October 8, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Equities are weaker this morning two days before China/U.S. trade talks. Uncertainty reigns on the Syria/Kurd issue. Brexit looms. Here are some of the details: China: There are two news items regarding China that have sent equities lower. First, the U.S. has… Read More »
Daily Comment (October 7, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Monday (is it just me? Or are weekends getting shorter?)! It’s a big week—the Fed releases its minutes on Wednesday, we get CPI on Thursday and Chinese officials are in town for trade talks. Here are some of the details: China… Read More »
Daily Comment (October 4, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy employment Friday! We cover the data below, but the quick take is that the report is mixed. The drop in the unemployment rate to 3.5%, a new cycle low, is impressive. However, wage growth for non-supervisory workers fell to 3.5% from… Read More »
Daily Comment (October 3, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Equity markets are mostly flat this morning after two sharp down days. Johnson has a new Brexit plan. The WTO approves U.S. retaliatory tariffs against the EU. Here is what we are watching this morning: Equity worries: Equity markets have taken a… Read More »
Daily Comment (October 2, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] It’s another risk-off day so far this morning. Residual worries about the economy continue to dominate. Here is what we are watching this morning: Reviewing ISM manufacturing: As you are all aware by now, the ISM manufacturing data for September came in… Read More »
Daily Comment (October 1, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Q4! Although there is a lot of news, not much is market-moving. A poorly received bond auction in Japan has lifted bond yields around the world. Here is what we are watching this morning: China’s anniversary: China held its 70th anniversary… Read More »
Daily Comment (September 30, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Monday! It’s the last day of the quarter and there is a lot going on. Let’s dig in. Here is what we are watching this morning: Happy Anniversary! The Communist Party of China (CPC) will hold major celebrations this week for… Read More »
Daily Comment (September 27, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Hurray for Friday! It has been a tumultuous week as we approach the end of Q3. Markets are generally quiet this morning. U.S. economic data was a bit soft (see below). There are two elections over the weekend, in Afghanistan and Austria.… Read More »