Research & News
Daily Comment (May 5, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Today’s Comment opens with Treasury Secretary Yellen’s gaffe – or Freudian slip – on rising inflation and interest rates. Even though she has tried to walk that statement down, it will likely play into suspicions that the Federal Reserve may… Read More »
Daily Comment (May 4, 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 yet another Federal Reserve official hammering home the message that U.S. monetary policy is likely to remain loose for as far as the eye can see. Besides that, it’s been a relatively slow news… Read More »
Weekly Geopolitical Report – The Geopolitics of Taiwan: Part I (May 3, 2021)
by Bill O’Grady | PDF Tensions over Taiwan have been steadily escalating in recent years. When President Trump was elected in 2016, one of the first official contacts he made was with President Tsai Ing-wen, the leader of Taiwan. Accepting this call infuriated Beijing, which views Taiwan as a province of the People’s Republic of… Read More »
Daily Comment (May 3, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning! It’s Monday and the first trading day of May. Various global markets are closed or seeing light trading today due to lingering May Day celebrations. U.S. equity futures are trending higher this morning. Economics and policy lead off… Read More »
Daily Comment (April 30, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning, all! U.S. equities are expected to open lower this morning as weak GDP from Europe and concerns about rising COVID-19 cases in emerging markets have weighed on market sentiment. There was a lot of overnight news. We start… Read More »
Asset Allocation Weekly (April 30, 2021)
by Asset Allocation Committee | PDF (Due to staff vacations, there will not be an accompanying podcast and chart book this week. The multimedia offerings associated with this report will resume next week, May 7.) In our asset allocation strategies, we continue to have a separate provision to homebuilders. The reason for this particular position… Read More »
Daily Comment (April 29, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning on this GDP day. We cover the data in detail below, but the short take is that the data came in a bit below forecast. Although consumption was robust, falling inventories reduced the overall number. U.S. equity futures… Read More »
Weekly Energy Update (April 29, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After the recent rally in prices, the market is consolidating recent gains and establishing a larger trading range between $68 to $58 per barrel. (Source: Barchart.com) Crude oil inventories rose 0.1 mb compared to the 1.0 mb draw expected. The SPR fell 1.4 mb,… Read More »