Daily Comment
Daily Comment (October 22, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Monday! We are seeing a bit of optimism this morning as Chinese equities rallied overnight. There was nothing in the news that was necessarily bullish for China but a constant drumbeat of supportive statements from CPC officials has likely given investors the idea that the… Read More »
Daily Comment (October 19, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Global equities are mixed this morning due to concerns about a possible stand-off between the EU and Rome along with slower than expected GDP growth in China. Here are the stories we are following today: Italy budget: In a rebuke to Rome, the European Commission (EC)… Read More »
Daily Comment (October 18, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Good morning! Equities fell and Treasury yields rose due to the hawkish tone of the Fed minutes. There was not a lot of overnight news but below are the stories we are following today: EU trade truce on the rocks: The truce between the U.S. and… Read More »
Daily Comment (October 17, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Markets are mixed this morning as strong earnings led to a surge in tech stocks but weaker earnings from automakers due to rising costs are likely weighing on investors. Here are the stories we are following today: Mueller to release key findings: Special Counsel Robert Mueller is… Read More »
Daily Comment (October 16, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equities have rebounded this morning due to expectations of strong earnings, and Treasury yields are also trending upward as it appears tensions are easing with Saudi Arabia and China. Below are the stories we will be following throughout the day: Khashoggi death: On Monday, CNN reported… Read More »
Daily Comment (October 15, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] The equity sell-off has returned as U.S. tensions with Saudi Arabia and China escalated over the weekend. Growing concerns of market uncertainty have led to a rise in oil prices, gold and Treasuries, as well as a drop in the dollar. Below are the stories we… Read More »
Daily Comment (October 12, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Good morning! It appears the market has finally recovered after a two-day sell-off in global equities. The yuan has also retreated following reports that the IMF and U.S. Treasury have concluded that China isn’t manipulating its exchange rate. Here are the stories we are following today:… Read More »
Daily Comment (October 11, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] [BREAKING: President Trump agreed to a meeting with Chinese leader Xi Jinping to discuss ongoing trade tensions during the G20 Summit. Earlier this week, U.S. officials had warned China that trade discussions would only take place if it provided a detailed list of trade concessions.… Read More »
Daily Comment (October 10, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] U.S. equity futures have weakened on an unexpected jump in core PPI (see below). Here is what we are following: China: There were a few items of interest this morning. First, Treasury Secretary Mnuchin warned China not to use a weaker currency to offset U.S. trade… Read More »