Daily Comment
Daily Comment (June 11, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Monday! It’s going to be a busy week. The Federal Reserve meets this week. The president is having his historic meeting with Kim Jong-un. On Friday, we are expecting details on the steel and aluminum tariffs. Here is what’s happening today: Kim and Trump in… Read More »
Daily Comment (June 8, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Friday! Equities dipped overnight but are recovering a bit as we head toward the opening bell. There is a lot of news. Let’s dig in: G-7? Acrimony rules in front of the G-7 meeting. President Trump told reporters, “Russia should be allowed back in,” just… Read More »
Daily Comment (June 7, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are in the midst of a quiet rally as the S&P challenges the high end of the recent range. Oil is up and the dollar is down. Here is what we are following this morning: BREAKING: The Trump administration and ZTE (0763 HKD, 25.60)… Read More »
Daily Comment (June 6, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy National Drive-In Movie Day! And kudos to our favorite outdoor movie theater, the Skyway Drive-In in Fish Creek, WI.[1] Here is what we are watching this morning: ECB tightening? Peter Praet, the ECB’s chief economist, indicated today that policymakers would be taking a hard… Read More »
Daily Comment (June 5, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Good morning—Happy National Moonshine Day![1] Here is what we are watching this morning: Oil and OPEC: The Trump administration has quietly asked OPEC[2] to boost oil output by 1.0 mbpd in a bid to lower oil prices and, as a result, gasoline prices. Undoubtedly we will… Read More »
Daily Comment (June 4, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Monday! Equities are ticking higher this morning, walking up a wall of worry. Here is what we are watching this morning: Trade friction: A couple of weekends ago, Treasury Secretary Mnuchin declared a ceasefire on trade. It didn’t last very long. Over the weekend, meetings… Read More »
Daily Comment (June 1, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy employment day! We cover the data in detail below but the quick snapshot is that the numbers are showing clear and increasing evidence of a tightening labor market. The unemployment rate dipped to 3.8% (out to three digits, it was 3.755%), payrolls exceeded expectations… Read More »
Daily Comment (May 31, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s the last day of May! Markets are mostly steady, the dollar is a bit weaker and Treasuries are seeing a modest bump in yields. Here is what we are watching this morning: Italian populists try to form a government: Italy’s president has given the populists… Read More »
Daily Comment (May 30, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are a bit calmer this morning. Equities are rebounding and Treasury yields are rising. The EUR is also higher. Here is what we are watching: Italy: The populist coalition is trying to revive talks to form a government, perhaps coming up with a less… Read More »