Research & News
Asset Allocation Weekly – Are Strong Profits Sustainable? (September 3, 2021)
by the Asset Allocation Committee | PDF (Note: due to the upcoming Labor Day holiday, there will not be an accompanying podcast episode this week.) With the first update of Q2 GDP, the Commerce Department released its corporate profits for the economy. Using after-tax profits, which exclude inventory adjustment and depreciation, profits relative to GDP… Read More »
Daily Comment (September 2, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning. As the markets wind down before the holiday weekend, U.S. equity futures continue to grind higher. Hurricane Ida is leaving the U.S. but not before causing flooding in New York City. Our coverage begins with Afghanistan. China is… Read More »
Weekly Energy Update (September 2, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After reaching $62 per barrel support, prices have snapped back and are consolidating around $68 per barrel. (Source: Barchart.com) Crude oil inventories fell 7.2 mb compared to the 2.5 mb draw forecast. The SPR was unchanged this week. In the details, U.S. crude oil… Read More »
Daily Comment (September 1, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF We begin today’s Comment with the latest news on Afghanistan, where the Taliban are already fighting opposition militias in what could be the beginning of a civil war. Next, we review the latest expectations for the nation’s energy supplies following… Read More »
Daily Comment (August 31, 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 the latest news on the U.S. pullout from Afghanistan and the damage from Hurricane Ida on the Gulf of Mexico. We next review the latest sign that China has fully embraced President Xi’s new… Read More »
Weekly Geopolitical Report – The Storm Before the Calm: A Review (August 30, 2021)
by Bill O’Grady | PDF (N.B. Due to the Labor Day holiday, the next report will be published on September 13.) Although we maintain an official reading list with capsule reviews, occasionally we come across a book that we think is important enough to review as a report. George Friedman’s newest book, The Storm Before… Read More »
Daily Comment (August 30, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning and happy Monday, the last one of August. U.S. equity futures are modestly higher this morning after Friday’s rally. Our coverage begins with Hurricane Ida. We then discuss Chair Powell’s Jackson Hole speech, followed by Afghanistan news. Our… Read More »
Daily Comment (August 27, 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 signaling a higher open this morning. Our report begins with international news focusing on the two attacks at the Kabul airport on Thursday. We also cover U.S. economics and policy, including details about growing… Read More »