Research & News
Daily Comment (November 12, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning! U.S. equity futures are a bit lower this morning. Tropical Storm Eta is hitting Jacksonville, FL, today and is on its way up the Southern Atlantic Seaboard this weekend. Although TS Theta won’t get anywhere near the U.S.,… Read More »
Daily Comment (November 11, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Our Daily Comment today opens with the latest news on the U.S. presidential transition and yesterday’s Supreme Court hearings on the Affordable Care Act. We follow that with some unfriendly market news out of China and various other international developments,… Read More »
Daily Comment (November 10, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Our Daily Comment today opens with the latest developments in the post-election political and legal maneuvering. Naturally, we follow that with a discussion of coronavirus news and what to expect after yesterday’s blockbuster announcement regarding the vaccine development by Pfizer… Read More »
Weekly Geopolitical Report – Revolution in Kyrgyzstan (November 9, 2020)
by Thomas Wash | PDF Around 20,000 protesters took to the streets in the Kyrgyzstan capital of Bishkek following parliamentary elections on October 4. Social media posts and news reports of alleged vote-buying and registration fraud sparked outrage when 107 out of 120 parliamentary seats went to parties loyal to President Sooronbay Jeenbekov, a surprising… Read More »
Daily Comment (November 9, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning and Happy Monday! Global equity markets are on a tear this morning; we are seeing a spike in interest rates, a drop in gold prices, and a surge in oil prices. All this looks like a trade based… Read More »
Daily Comment (November 6, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning and Happy Friday! Equity markets are taking a breather this morning, lower after a strong and volatile week. It’s employment day; we cover the data in detail below, but the quick read is that it came in much… Read More »
Asset Allocation Weekly (November 6, 2020)
by Asset Allocation Committee | PDF In his book entitled The Counter-Revolution in Monetary Theory, Milton Friedman states that, “Inflation is always and everywhere a monetary phenomenon in a sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” This sentiment shaped both… Read More »
Daily Comment (November 5, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning. Equity markets continue to rally and lead off our coverage this morning. The winter surge in COVID-19 continues to gather pace and comes next in today’s commentary. Central banks are batting third—the FOMC meeting concludes today, and the… Read More »
Weekly Energy Update (November 5, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. After dipping below the $37.00/$42.00 range, prices have returned to that band. A key reason is that OPEC+ is considering additional production restrictions. Commercial crude oil inventories fell 8.0 mb when a 2.0 mb build was… Read More »