Daily Comment
Daily Comment (October 11, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Although overall market activity is quiet this morning, there is a good bit of news. Here is what we are watching this morning: Catalonia blinks—Rajoy presses: Yesterday, Catalan leader Carles Puigdemont declared and suspended independence, asking for talks with Madrid. PM Rajoy is having none of… Read More »
Daily Comment (October 10, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Although it was mostly quiet overnight, we are awaiting a potential declaration of independence from Catalonia. Here is what we are tracking this morning: A declaration of independence? Catalan Leader Carles Puigdemont is expected to address the regional parliament in Barcelona at 11:00 EDT amid growing… Read More »
Daily Comment (October 9, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s a slow news morning. Columbus Day is being celebrated, which means the Federal Government and Treasury market are closed. Equities are open. Here is what we are tracking this morning. A Turkish spat: Turkish financial markets have been roiled this morning after both the U.S.… Read More »
Daily Comment (October 6, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy employment data day! We cover the release in detail below but the quick view is the report is mixed; payrolls actually declined but the unemployment rate did, too. The data was affected by weather events. The dollar rose on the news and Treasury yields rose… Read More »
Daily Comment (October 5, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are very quiet again this morning in front of the employment data on Friday. Here is what we are watching: PM May’s no good, very bad day: With compliments to Judith Viorst,[1] the Tory PM has had a really rough run recently. She was… Read More »
Daily Comment (October 4, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are very quiet again this morning in front of the employment data on Friday. Here is what we are watching this morning: Fed chair decision: President Trump has distilled a short list for replacing (or, perhaps, reappointing) the position of Fed chair. Below is… Read More »
Daily Comment (October 3, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are very quiet this morning. Because it’s quiet, let’s take a look at Europe: Catalonia, Spain and the EU: Every nation is a construct. It is built on a social contract that offers various public goods in exchange for membership. First and foremost, states… Read More »
Daily Comment (October 2, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It was a violent weekend. Here is what we are watching: The mess in Catalonia: Catalonia did hold an independence referendum over the weekend in the midst of a strong central government crackdown. Latest media reports suggest over 760 people were injured in clashes with central… Read More »
Daily Comment (September 29, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy end of quarter day! Q3 comes to a close today and next week we begin the march to Q4. Markets are quiet at quarter end. Here is what we are watching: Social media and Russian bears: For the past several weeks, Facebook (FB, 168.73) has… Read More »