Daily Comment
Daily Comment (June 12, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Although the news is historic, the market reaction is very quiet. Most likely, the financial markets are much more interested in what the FOMC does rather than the meetings in Singapore. Here is what we are watching: Singapore: To some extent, the odds favored a meeting… Read More »
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 »