Daily Comment

Daily Comment (October 13, 2016)

by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] The FOMC minutes did have some interesting information but no real surprises.  It confirmed what the dissents and the dots chart indicated—the FOMC is divided on policy.  The hawks are concerned that waiting too long to raise rates could lead to an overheating economy and force… Read More »

Daily Comment (October 12, 2016)

by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] The big news overnight was that PM May will allow Parliament to debate on her plan to exit the EU.  The GBP rallied strongly on the reports.  However, there is nothing to suggest that she is planning to let the legislature vote on Brexit.  There is… Read More »

Daily Comment (October 11, 2016)

by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] Global equity markets are mixed this morning.  The EuroStoxx 50 is trading higher by 0.4% from the last close.  In Asia, the MSCI Asia Apex 50 closed lower by 1.7% from the prior close. Chinese markets were higher, with the Shanghai Composite moving up by 0.6%… Read More »

Daily Comment (October 10, 2016)

by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] Global equity markets are mixed this morning.  The EuroStoxx 50 is trading higher by 0.7% from the last close.  In Asia, the MSCI Asia Apex 50 closed lower by 0.05% from the prior close. Chinese markets were higher, with the Shanghai Composite moving up by 1.5%… Read More »

Daily Comment (October 7, 2016)

by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] Global equity markets are mixed this morning.  The EuroStoxx 50 is trading lower by 0.5% from the last close.  In Asia, the MSCI Asia Apex 50 closed lower by 0.3% from the prior close.  Chinese markets are closed for the Golden Week holiday.  U.S. equity futures… Read More »

Daily Comment (October 6, 2016)

by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] The IMF meetings are being held in Washington this weekend.  We would not expect anything too earthshattering out of these discussions.  However, the organization has calculated an interesting bit of data—the IMF estimates that the world has $152 trillion of debt, about twice the size of… Read More »

Daily Comment (October 5, 2016)

by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] It was a rather quiet night.  The VP debate came and went; polls suggest that Pence was better received but we doubt the interaction will change the election chances of either presidential candidate.  There are some interesting trends starting to develop that are worth mentioning: Long-term… Read More »

Daily Comment (October 4, 2016)

by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] BREAKING NEWS: The IMF has updated its economic forecasts.  Although world GDP growth remains steady, it has lowered Eurozone and U.S. GDP.  Overall, economic growth remains sluggish. For the second straight day, the British pound (GBP) is taking a “pounding.”  The proximate cause is PM May’s… Read More »

Daily Comment (October 3, 2016)

by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] Politics mostly dominated the weekend news flow, although Deutsche Bank (DB, $13.09, +1.61) was in the news, too.  German markets are closed for a holiday (it’s Unification Day, the holiday that commemorates the official day when East and West Germany were reunited), so we haven’t seen… Read More »

Daily Comment (September 30, 2016)

by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] The market’s focus continues to center on the banking system, with Deutsche Bank (DB, $11.48, -0.82) being the most market relevant, although the travails of bankers testifying before Congress hasn’t helped the sector.  Deutsche Bank is the bigger issue because it raises fears of systemic problems. … Read More »

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