Research & News
Daily Comment (August 13, 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. Our report begins with a discussion about inflation. Next, we provide a round-up of international news, including the Taliban’s advancement in Afghanistan and Bolsonaro’s attempt… Read More »
Asset Allocation Weekly – Intellectual Property Takes Over Fixed Investment (August 13, 2021)
by the Asset Allocation Committee | PDF It’s probably no surprise to anyone that information processing has become a bigger and bigger part of the economy over the last several decades. By now, we’ve all gotten used to seeing new kinds of computers and telephones every year, and we’ve struggled with learning new software programs… Read More »
Daily Comment (August 12, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning. U.S. equity futures are mostly steady this morning. Financial markets are broadly steady, consistent with late summer trading. Our coverage kicks off with news from China followed by the international roundup. Economics and policy follow, and we close… Read More »
Weekly Energy Update (August 12, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices remain depressed, with $67 acting as support. Crude oil inventories unexpectedly fell 0.4 mb compared to the 2.0 mb draw forecast. The SPR was unchanged this week. In the details, U.S. crude oil production rose 0.1 mbpd to 11.3 mbpd. Exports rose… Read More »
Daily Comment (August 11, 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 a discussion of U.S. policy actions, with a focus on yesterday’s Senate passage of the bipartisan “hard” infrastructure bill and this morning’s Senate passage of a budget blueprint encompassing the Democrats’ big antipoverty and… Read More »
Daily Comment (August 10, 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 an update on U.S. policy news, including expectations that the Senate will pass the $1 trillion “hard” infrastructure bill this morning, even as Democrats released details on their proposed follow-on bill covering antipoverty and… Read More »
Weekly Geopolitical Report – August 15, 1971 (August 9, 2021)
by Bill O’Grady | PDF Next week, we will observe the 50th anniversary of President Nixon’s decision to exit the Bretton Woods agreement. This choice was part of a broader package of policy actions designed to deal with a series of issues, including inflation, unemployment, and a balance of payments problem. As is often the… Read More »
Daily Comment (August 9, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning and happy Monday. It’s inflation week—the CPI comes out on Wednesday. U.S. equity futures are modestly lower this morning, but the real story is in commodities. Oil and precious metals are tumbling this morning in the face of… Read More »
Daily Comment (August 6, 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 flat open this morning. We begin with a discussion about the effect the new variant may have on the recovery. Our international news coverage includes escalating tensions between Israel… Read More »