Research & News
Weekly Geopolitical Report – Meet Yoshihide Suga (September 21, 2020)
by Patrick Fearon-Hernandez, CFA | PDF Because of Japan’s enormous role in the world, investors need to pay attention whenever the country undergoes a change of leadership as it did last week. After all, Japan currently accounts for some 7% of global stock market capitalization and 6% of the world’s gross domestic product. Not bad… Read More »
Daily Comment (September 21, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning. It’s Monday and there is a lot going on. Equity markets are down sharply across the world; we suspect fears of political turmoil are adversely affecting financial markets. We lead off with comments surrounding the death of Justice… Read More »
Daily Comment (September 18, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning and happy Friday! It’s a quadruple “witching day,” the day when stock index futures, single stock futures and their associated options expire. It is not unusual to see heightened volatility on such days. Equity markets are mostly stable,… Read More »
Asset Allocation Weekly (September 18, 2020)
by Asset Allocation Committee | PDF In June, we published a WGR on the EU’s decision to issue a Eurobond, a financial instrument backed by the full faith and credit of all the member states of the European Union. One of the reasons the U.S. dollar remains the global reserve currency is because the world… Read More »
Daily Comment (September 17, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning! Equity markets are sharply lower this morning; the Fed is being blamed. We begin our comments today with the Fed; the U.S. central bank held its usual meeting. Second, we offer a few thoughts about the historic Abraham… Read More »
Weekly Energy Update (September 17, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. The recent dip in prices remains, although we are seeing some recovery. Crude oil inventories fell when a rise was expected. Commercial stockpiles declined 4.4 mb compared to forecasts of a 2.3 mb rise. The SPR… Read More »
Daily Comment (September 16, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Our Daily Comment today focuses on the Federal Reserve, highlighting what to expect from its policymaking meeting today, discussing one key result of its ultra-loose policy, and describing the latest developments regarding Judy Shelton’s nomination to the Fed’s board. We… Read More »
Daily Comment (September 15, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Our Daily Comment today focuses on some positive coronavirus developments, including further progress on vaccines and treatments, policymakers’ reluctance to reimpose mass lockdowns, and a broadening economic recovery in China. Those developments go far toward explaining the solid bid for… Read More »
Weekly Geopolitical Report – The New Spain (September 14, 2020)
by Thomas Wash | PDF Plaza de Toros de Las Ventas is the largest bullfighting arena in Spain and the third largest in the world. Located east of Central Madrid, the arena, with its almost 100-year history, attracts tourists from around the world who want to experience authentic Spanish culture. However, the pandemic has put… Read More »