Research & News
Weekly Energy Update (December 10, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. Prices are consolidating after the late November rally. Commercial crude oil inventories unexpectedly jumped 15.2 mb when a 1.0 mb draw was expected. The SPR fell 0.1 mb; there is still 3.1 mb of storage in… Read More »
Weekly Geopolitical Report – The Disputed Territory of Nagorno-Karabakh: Part II (December 7, 2020)
by Thomas Wash | PDF After a six-week war, Armenia regretfully conceded some of the disputed region of Nagorno-Karabakh to its longtime rival Azerbaijan. Making matters worse, Armenian President Armen Sarkisyan admitted that he wasn’t even involved in discussions regarding his country’s surrender. As of today, ethnic Armenians have evacuated the conceded regions, while Russian… Read More »
Asset Allocation Weekly (December 4, 2020)
by Asset Allocation Committee | PDF Over the decades, keen observers of the financial markets have developed a number of theories and strategies that serve as useful tools for understanding market dynamics. One of the most famous such tools is the Dow Theory, which explains longer-term market movements based on the writings of Wall Street… Read More »
Weekly Energy Update (December 3, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. Positive news on a vaccine for COVID-19 led to a strong rally this week, taking prices to the upper end of the current trading range. Commercial crude oil inventories fell 0.7 mb when a 1.7 mb… Read More »
Weekly Geopolitical Report – The Disputed Territory of Nagorno-Karabakh: Part I (November 23, 2020)
by Thomas Wash | PDF (Due to the Thanksgiving holiday, our next report will be published on December 7, 2020.) On November 9, Armenia agreed to give up some of its territory to Azerbaijan in a deal brokered by Russia. After six weeks of fighting and three failed ceasefires, Azerbaijan and Armenia have ended their… Read More »
Asset Allocation Weekly (November 20, 2020)
by Asset Allocation Committee | PDF In the aftermath of the election and favorable news on vaccine progress, we have seen a notable backup in interest rates. The 10-year T-note yield is flirting with 1%. In this report, we will examine the future path of long-duration interest rates. We start with our 10-year T-note yield… Read More »
Weekly Energy Update (November 19, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF (N.B. Due to the Thanksgiving Day holiday, the next report will be published on December 3.) Here is an updated crude oil price chart. Positive news on a vaccine for COVID-19 led to a strong rally this week, taking prices to the upper end… Read More »