Daily Comment
Daily Comment (March 12, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Monday! We switched to daylight savings time on Sunday (a rather barbaric practice). Here is what we are watching this morning: Scrambling on Korea talks: Weekend reporting made it clear that the president agreed to talks on his own without consulting staff. The normal protocol… Read More »
Daily Comment (March 9, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] It’s employment data Friday! We detail the data below but the quick summary is “shocking.” Wage growth moderated and payrolls came in stronger than expected. In the household survey, the unemployment rate remained at 4.1% but that masked massive increases in employment and the labor force. … Read More »
Daily Comment (March 8, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] After a torrent of news this week, it’s comparatively quiet this morning. Here is what we are watching: ECB: The ECB meets today and the statement contained a surprise—the central bank has dropped its pledge to expand QE if needed. This announcement signals the beginning of… Read More »
Daily Comment (March 7, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] There is much to discuss this morning. Let’s get to it: Cohn out: Gary Cohn, Director of the National Economic Council, resigned yesterday evening. Although reports suggest he has been considering the move for a couple of months, the proximate cause was the inability to turn… Read More »
Daily Comment (March 6, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Risk markets are higher this morning, building on yesterday’s afternoon recovery. Here is what we are watching this morning: Trade wars—the establishment strikes back: They don’t call it the establishment for nothing. The GOP establishment playbook—tax cuts, open trade, deregulation—has always been a less than perfect… Read More »
Daily Comment (March 5, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Happy Monday! Here is what we are watching this morning: Trade wars: As details emerge on how the president decided to recommend across-the-board tariffs on steel and aluminum, it has become clear it was more of a reaction than a well-thought-out plan. There is no actual… Read More »
Daily Comment (March 2, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] There is a lot going on this morning. Let’s dive in: Trade wars: President Trump campaigned as a trade warrior, promising tariffs and government intervention to boost manufacturing employment and give hope to his electoral base. However, in his first year of office, if one ignores… Read More »
Daily Comment (March 1, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Risk assets are coming under pressure this morning as equities struggle. Here is what we are watching today: Powell, Part 2: Chair Powell testifies before the Senate Banking Committee today. Usually, the second testimony is not closely watched; after all, we have already seen the formal… Read More »
Daily Comment (February 28, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Looking for something to read? In our travels we are often asked about books we recommend. As a result, we have created The Reading List. The list is a group of books, separated by category, that we believe are interesting and insightful. Each book on… Read More »