Daily Comment

Daily Comment (August 9, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Friday! Equities are giving back some of yesterday’s stronger gains.  The Italian government is near a collapse.  U.K. economy disappoints.  U.S. holds off on tech decisions.  And, five decades ago today, the famous album cover photo of Abbey Road was snapped. … Read More »

Daily Comment (August 8, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Markets are relatively quiet this morning after an impressive reversal in the equity markets yesterday.  We are seeing a backup in bond yields in the past hour on reports Germany may finally be considering fiscal expansion.  Here is what we… Read More »

Daily Comment (August 7, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Risk assets are rising again this morning.  Central banks make a splash; gold continues to march higher.  Trade conflict with China remains front and center. Here are the details: Central bank surprise:  The Reserve Bank of New Zealand, the Reserve… Read More »

Daily Comment (August 6, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Risk assets are getting a bounce this morning.  Trade conflict with China remains front and center. Here are the details: Currency manipulator:  The Treasury has officially designated China a “currency manipulator.”  This designation isn’t as big a deal in reality… Read More »

Daily Comment (August 5, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] It’s Monday, but far from a happy one.   Global equity markets are taking a beating while interest rates continue to decline.  Geopolitical tensions are rising in several theaters.  The U.S. is dealing with two mass shootings.  And, the Haj begins today.  Here… Read More »

Daily Comment (August 2, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Friday employment day!  We cover the data in detail below but the snapshot is generally in line with expectations.  Payrolls were 164k, nearly bang on forecasts of 165k, although revisions lowered payrolls by a net 32k.  The unemployment rate was unchanged… Read More »

Daily Comment (August 1, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning!   Markets are dealing with the aftermath of the Fed meeting.  China is slow-walking trade. The BOE met today.  Osama bin Laden’s son is believed to have died.  The MLB trade deadline big winner was Houston, with Atlanta coming in a… Read More »

Daily Comment (July 31, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning!   The FOMC meeting ends today.  North Korea continues to fire off missiles.  The baseball trading deadline occurs at 4:00 EDT today.  Here is what we are watching this morning: The Fed: Yesterday, we noted the scenarios for today’s monetary policy. … Read More »

Daily Comment (July 30, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning!   The FOMC meeting begins today.  The GBP continues its slide.  Here are the details: The Fed: Although there is almost no chance the Fed won’t cut by 25 bps tomorrow, we are watching for two items.  First, Powell’s language, especially… Read More »

Daily Comment (July 29, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Monday!  It’s Fed week.  The MLB trading deadline is Wednesday.  There was unrest around the globe.  Here are the details: The Fed: It is all but certain the FOMC will cut rates on Wednesday.  Former Chair Janet Yellen came out in… Read More »

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