Daily Comment
Daily Comment (January 25, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] After a sluggish start to the year, equity markets have resumed their northward march. There isn’t a whole lot of news to trigger this rise, although the reversal of the Obama policy on pipelines may have lifted hopes that deregulation is really on the… Read More »
Daily Comment (January 24, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] The big news overnight came from the U.K. where the Supreme Court ruled that Parliament must move on Brexit before an Article 50 declaration can be made. Although this decision is being portrayed as a setback for PM May, it isn’t exactly a huge… Read More »
Daily Comment (January 23, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] It was a rather tumultuous weekend with the incoming administration sparring with the media over a number of issues. Those factors are being hashed out in the media so we won’t focus on them. However, what we are paying attention to is the impact… Read More »
Daily Comment (January 20, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] Happy Inauguration Day! As President Obama exits the White House and President Trump takes control, the new administration will begin to settle in. One of the characteristics of any new president and his team is that nearly all the members of the incoming administration… Read More »
Daily Comment (January 19, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] The ECB decided to keep its interest rates low as well as maintain its quantitative easing program. During a press conference, Mario Draghi expressed his willingness to extend the current monetary policy as growth within the European Union is still relatively slow. He also… Read More »
Daily Comment (January 18, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] President-elect Trump caused a stir yesterday when he suggested that he doesn’t want a strong dollar. Some of the commentary we saw suggested that this is nearly “unprecedented.” That’s not really the case. Since the dollar began floating under Nixon, presidents have, on occasion,… Read More »
Daily Comment (January 17, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] The big news item over the long weekend was U.K. PM May’s indication that she is leaning toward what is being called a “hard Brexit.” In general, a “soft Brexit” would mean the U.K. leaves the EU but the terms are such that not… Read More »
Daily Comment (January 13, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] Happy Friday the 13th! Outside of the Chinese trade data (see below), there wasn’t a lot of news. The number from China came in a bit soft as exports fell 6.1% from last year in USD terms. For China, the weaker trade data… Read More »
Daily Comment (January 12, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] The primary market theme this morning appears to be a broad reversal of the so-called “Trump trades” that have dominated the markets since the election. We are seeing weaker equities globally and the dollar is weaker, while Treasuries and gold are doing better. There… Read More »