Daily Comment
Daily Comment (January 19, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] We are seeing continued strength in equities this morning and a modest decline in Treasuries. Here are some things worth noting today: Shutdown looming: Although a continuing resolution passed the House rather easily, it looks like a long shot for the Senate to pass a similar… Read More »
Daily Comment (January 18, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] We are seeing a modest retreat in equities this morning after a major rally yesterday. The dollar is weakening after rising yesterday as well. Here are some things worth noting this morning: China’s GDP: Although a highly manipulated number, last year’s GDP rose 6.9%, a bit… Read More »
Daily Comment (January 17, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Financial markets were mostly quiet overnight. Yesterday turned out to be a rare down day for equities but futures are signaling a higher opening this morning. Treasury yields are modestly higher. Here is what we are watching this morning: A continuing resolution: Congressional leaders are likely… Read More »
Daily Comment (January 16, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Welcome back from the long weekend! In a sense, not much has changed—equity markets continue to move higher. Here are the news items of note: Germany’s political turmoil continues: The EUR has dipped this morning, a pause in a torrid appreciation, as two items are raising… Read More »
Daily Comment (January 12, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Coalition deal in Germany: This morning, Chancellor Merkel announced that an agreement has been reached to form a conservative coalition with the Social Democrats (SPD). This agreement will likely pave the way for Merkel to finally form a new government after months of negotiations following… Read More »
Daily Comment (January 11, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Chinese pullback in Treasuries: Yesterday, citing an anonymous source, Bloomberg News reported that China is considering reducing or halting its purchases of U.S. Treasuries; China has since denounced the report as “fake news.” Initially, U.S. Treasuries, the dollar and U.S. equities fell on the news,… Read More »
Daily Comment (January 10, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] The problem with bonds: Bond yields jumped yesterday with the 10-year T-note yield breaching 2.55%, breaking 2.50% for the first time since March. There appear to be two catalysts behind the jump. First, the BOJ reduced its purchases of bonds; it should be remembered that… Read More »
Daily Comment (January 9, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Crypto problems: The major cryptocurrencies fell sharply yesterday after wide price divergences on South Korean exchanges led the exchanges to limit data on pricing. South Korea, worried about excessive speculation in the cryptocurrencies, has been cracking down recently which is leading to growing concern about… Read More »
Daily Comment (January 8, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Happy Monday! We may be on a path to the first down day of the year for equities, although it is obviously early. Here is what we are noting this morning: Abandoning the Palestinians: We have always believed that the Palestinian cause was more for show… Read More »