Daily Comment
Daily Comment (June 15, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s Friday, the close of a very busy week. Today will be active, too. Here’s what we are following: Tariffs: As expected, the Trump administration leveled tariffs on $50 bn of Chinese imports this morning. The action will be broken into two tranches; the first set,… Read More »
Daily Comment (June 14, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s ECB decision day! The World Cup also begins today in Russia. It’s also Flag Day and President Trump’s birthday. The financial markets are trying to figure out if the Fed was hawkish or not. Here is what we are watching today: ECB: The European Central… Read More »
Daily Comment (June 13, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s Fed Day! Financial markets are quiet in front of the “festivities.” Here is what we are watching: The Fed: We did a deeper dive in yesterday’s comment using the Mankiw models, but there are a few other important items. First, in the statement, there are… Read More »
Daily Comment (June 12, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Although the news is historic, the market reaction is very quiet. Most likely, the financial markets are much more interested in what the FOMC does rather than the meetings in Singapore. Here is what we are watching: Singapore: To some extent, the odds favored a meeting… Read More »
Daily Comment (June 11, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Monday! It’s going to be a busy week. The Federal Reserve meets this week. The president is having his historic meeting with Kim Jong-un. On Friday, we are expecting details on the steel and aluminum tariffs. Here is what’s happening today: Kim and Trump in… Read More »
Daily Comment (June 8, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Friday! Equities dipped overnight but are recovering a bit as we head toward the opening bell. There is a lot of news. Let’s dig in: G-7? Acrimony rules in front of the G-7 meeting. President Trump told reporters, “Russia should be allowed back in,” just… Read More »
Daily Comment (June 7, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are in the midst of a quiet rally as the S&P challenges the high end of the recent range. Oil is up and the dollar is down. Here is what we are following this morning: BREAKING: The Trump administration and ZTE (0763 HKD, 25.60)… Read More »
Daily Comment (June 6, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy National Drive-In Movie Day! And kudos to our favorite outdoor movie theater, the Skyway Drive-In in Fish Creek, WI.[1] Here is what we are watching this morning: ECB tightening? Peter Praet, the ECB’s chief economist, indicated today that policymakers would be taking a hard… Read More »
Daily Comment (June 5, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Good morning—Happy National Moonshine Day![1] Here is what we are watching this morning: Oil and OPEC: The Trump administration has quietly asked OPEC[2] to boost oil output by 1.0 mbpd in a bid to lower oil prices and, as a result, gasoline prices. Undoubtedly we will… Read More »