Daily Comment

Daily Comment (January 24, 2018)

by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] The big market mover this morning is the dollar.  Here is what we are watching: Treasury shift?  During the 1980s into the 1990s, U.S. Treasury secretaries frequently tried to move the currency markets.  James Baker was part of the Paris Accord in 1985 that led to… Read More »

Daily Comment (January 23, 2018)

by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] After all the news from yesterday, markets are fairly quiet this morning.  This is what we are watching today: The shutdown ends: And it ends with mostly a whimper.  Democrat Party leaders essentially ended the shutdown with a promise for a vote on DACA and an… Read More »

Daily Comment (January 22, 2018)

by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] The media is focused on the government shutdown but, if the markets are a guide, there isn’t much to see.  This is what we are watching this morning: BREAKING: The IMF has boosted its estimate for global GDP to 3.9%, up 0.2%, in part due to… Read More »

Daily Comment (January 19, 2018)

by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] We are seeing continued strength in equities this morning and a modest decline in Treasuries.  Here are some things worth noting today: Shutdown looming: Although a continuing resolution passed the House rather easily, it looks like a long shot for the Senate to pass a similar… Read More »

Daily Comment (January 18, 2018)

by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] We are seeing a modest retreat in equities this morning after a major rally yesterday.  The dollar is weakening after rising yesterday as well.  Here are some things worth noting this morning: China’s GDP: Although a highly manipulated number, last year’s GDP rose 6.9%, a bit… Read More »

Daily Comment (January 17, 2018)

by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Financial markets were mostly quiet overnight.  Yesterday turned out to be a rare down day for equities but futures are signaling a higher opening this morning.  Treasury yields are modestly higher.  Here is what we are watching this morning: A continuing resolution: Congressional leaders are likely… Read More »

Daily Comment (January 16, 2018)

by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Welcome back from the long weekend!  In a sense, not much has changed—equity markets continue to move higher.  Here are the news items of note: Germany’s political turmoil continues: The EUR has dipped this morning, a pause in a torrid appreciation, as two items are raising… Read More »

Daily Comment (January 12, 2018)

by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Coalition deal in Germany: This morning, Chancellor Merkel announced that an agreement has been reached to form a conservative coalition with the Social Democrats (SPD).  This agreement will likely pave the way for Merkel to finally form a new government after months of negotiations following… Read More »

Daily Comment (January 11, 2018)

by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EST] Chinese pullback in Treasuries: Yesterday, citing an anonymous source, Bloomberg News reported that China is considering reducing or halting its purchases of U.S. Treasuries; China has since denounced the report as “fake news.”  Initially, U.S. Treasuries, the dollar and U.S. equities fell on the news,… Read More »

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