Daily Comment
Daily Comment (March 6, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] There were two news stories of note over the weekend. First, President Trump accused the previous administration of wiretapping his campaign. This is a very significant charge, akin to Nixon’s “plumbers” breaking into the Democratic National Headquarters. The FBI and the former Director of… Read More »
Daily Comment (March 3, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] We are seeing a modest decline in U.S. equities and a softer dollar as traders square positions in front of two key speeches today, one from Vice Chair Fischer and the other from Chair Yellen. It is highly likely these leaders at the Fed… Read More »
Daily Comment (March 2, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] Yesterday’s equity market rally was quite impressive; President Trump’s speech was clearly well received and the ISM data also came in strong, raising hopes of a better economy. This chart shows the yearly change in the S&P 500 index along with the ISM manufacturing… Read More »
Daily Comment (March 1, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] Although political analysts continue to dissect the president’s speech, the markets have clearly rendered a verdict—it was a winner. The Trump trade of higher interest rates, stronger dollar and equities is back in force this morning. Our take on the speech was that it… Read More »
Daily Comment (February 28, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] On the eve of President Trump’s first major address to Congress, financial markets are mostly steady. As each day passes, however, the odds of passing a sweeping agenda lessen. The temporary nature of political capital is perhaps one of an incoming president’s least appreciated… Read More »
Daily Comment (February 27, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] Over the weekend, parts of President Trump’s budget plan were released to the public. According to the New York Times, the president plans to increase defense spending and scale back non-defense spending, most notably the EPA and the State Department. The increase in defense… Read More »
Daily Comment (February 24, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] During a panel discussion at the CPAC convention, White House Chief Strategist Steve Bannon and White House Chief of Staff Reince Priebus sought to quell rumors of a possible rift between the two. The discussion was mild-tempered, with both stating that they respect each… Read More »
Daily Comment (February 23, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] Equity markets have remained relatively calm after the Fed minutes reaffirmed the outlook of most investors. In the minutes, the Federal Reserve voted unanimously to maintain current rates due to the PCE remaining below its 2% target as well as “heightened uncertainty” about changes… Read More »
Daily Comment (February 22, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] Donald Trump has released a pair of memos that lay out a plan to cut down on illegal immigration into the United States. The memo expanded the definition of criminal aliens from those who have committed serious crimes to those who have been convicted… Read More »