Research & News

Daily Comment (June 16, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF We open today’s Comment with loads of U.S. policy news, followed by remarks on today’s U.S.-Russia summit meeting.  We next discuss a wide range of international developments.  We close with the latest news about the coronavirus pandemic.  Finally, with the… Read More »

Daily Comment (June 15, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF In today’s Comment, we open with news related to President Biden’s trip to Europe.  Not only is there a lot of political news in Europe, but European stocks have posted a string of records.  We also discuss the start of… Read More »

Weekly Geopolitical Report – The Geopolitics of the Colonial Pipeline Ransomware Attack: Part I (June 14, 2021)

by Bill O’Grady | PDF On Thursday, May 6, 2021, hackers attacked the Colonial Pipeline, capturing data by infiltrating the company’s business software.  In response, the company closed its 5,500-mile pipeline to assess the damage and protect critical infrastructure.  Eventually, the company paid the ransom and service was restored. Although a criminal event usually doesn’t… Read More »

Daily Comment (June 14, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning, and happy Monday!  U.S. equity futures are mostly flat this morning.  We are seeing sharply lower gold prices, most likely because cryptocurrencies have stopped declining.  Our coverage begins with the FOMC, which holds a policy meeting this week. … Read More »

Daily Comment (June 11, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning, all! U.S. equities appear to be headed for a higher open this morning. Today’s report begins with an update on the infrastructure spending negotiations and an in-depth analysis of the CPI report. International news follows, with reports of… Read More »

Asset Allocation Weekly (June 11, 2021)

by the Asset Allocation Committee | PDF In May, respondents to the University of Michigan’s monthly Consumer Sentiment Survey said they expect consumer prices to rise at an average rate of 4.6% per year over the next half-decade—the highest level of inflation expectations in 12 years. In this report, we discuss why inflation expectations are… Read More »

Daily Comment (June 10, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning!  It’s ECB day as the Eurozone’s central bank holds its regular meeting.  It’s also CPI day; we cover the data below, but consumer inflation came in higher than expected.  Overnight, U.S. equity futures were mostly steady in front… Read More »

Weekly Energy Update (June 10, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices have moved above the $60 to $68 per barrel trading range and are testing $70 per barrel. (Source: Barchart.com) Crude oil inventories fell 5.2 mb compared to the 3.3 mb draw expected.  The SPR fell 1.3 mb, meaning without the addition from… Read More »

Daily Comment (June 9, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF In today’s Comment, we open with some early responses to the G7’s call for a global minimum tax rate on corporations.  In a word, it looks like pretty tough sledding for the proposal.  Next, we move to U.S. fiscal and… Read More »

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