Daily Comment
Daily Comment (March 9, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EST] It was a mostly quiet night in front of the ECB decision tomorrow. Market expectations are optimistic that Draghi will come through with some sort of stimulus. If the EUR fails to weaken after tomorrow’s meeting, it may signal that the ECB is mostly out of… Read More »
Daily Comment (March 8, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EST] Global equity markets are taking a breather today after an impressive rally. Commodity prices have been rallying as well. As noted below, China’s trade data came in a bit sloppy, with exports down 25.4% from last year. However, all Chinese data is difficult to read in… Read More »
Daily Comment (March 7, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EST] There are two issues we want to discuss this morning, China and monetary policy as it relates to Friday’s employment report. China: The National People’s Congress meetings began on Saturday and a clear signal is being sent—restructuring is being put on the back burner and the… Read More »
Daily Comment (March 4, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EST] BREAKING NEWS: Former Brazilian President Lula has been detained for questioning in an investigation of corruption. So far, he has not been arrested. Interestingly enough, it’s “risk on” with Brazilian assets, the BRL is advancing and Brazilian equities are rallying. This reaction may be due to… Read More »
Daily Comment (March 3, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EST] U.S. commercial crude oil inventories jumped 10.4 mb for the week ending 2/26, well above forecast. Current stockpiles remain at 80+ year highs. We are only 21 mb below the all-time high and there is a very good chance we will make a new high in… Read More »
Daily Comment (March 2, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EST] Super Tuesday didn’t bring too many surprises. Donald Trump and Sen. Clinton both won the majority of states but, with proportional delegate distribution, all the candidates still running gathered at least a few delegates. Soon we will shift to winner-takes-all voting, which should accelerate the process… Read More »
Daily Comment (March 1, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EST] It’s “Super Tuesday,” perhaps the most important date on the primary calendar. By tomorrow morning, we should have a fairly good idea of who will be the candidates from both parties. Polls suggest that it will be Trump versus Clinton for November. It probably won’t be… Read More »