Research & News
Daily Comment (January 26, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF Our Comment today opens with news from China, where new data showing a surge of foreign direct investment into the country last year is being tempered by a new move by the central bank to reduce liquidity in the financial… Read More »
Weekly Geopolitical Report – The U.S.-China Balance of Power: Part II (January 25, 2021)
by Patrick Fearon-Hernandez, CFA | PDF In Part I of this report, we provided a comprehensive overview of how China and the U.S. see their key interests and goals. We believe those understandings will have a big impact on how the two sides compete with each other in the coming decades. In Part II this… Read More »
Daily Comment (January 25, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF Good morning and Happy Monday. U.S. equity futures were higher this morning but are in retreat, with only the tech sector showing strength. This trend is likely due to concerns about another resurgence of the virus, pushing investors to fall… Read More »
Weekly Energy Update (January 25, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF The report was delayed due to the Martin Luther King Jr. holiday. Here is an updated crude oil price chart. Commercial crude oil inventories unexpectedly rose 4.4 mb, when a decline of 1.3 mb was forecast. In the details, U.S. crude oil production was… Read More »
Daily Comment (January 22, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF Good morning. Global equities are lower as fears of a third wave of the coronavirus continue to mount. New developments related to the pandemic lead our coverage today, followed by a discussion of President Biden’s first day in office. The… Read More »
Asset Allocation Weekly (January 22, 2021)
by Asset Allocation Committee | PDF In Charles Dickens’s novel A Tale of Two Cities, he writes, “It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was… Read More »
Daily Comment (January 21, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF Good morning. U.S. equity futures are higher this morning. The ECB meets today and leads off our coverage. A recap of President Biden’s first day follows. There is a plethora of news out of China. A pandemic update follows, with… Read More »
Daily Comment (January 20, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF Our Comment today opens with U.S. political news related to Joe Biden’s inauguration as president today. We next turn to overseas news, focusing mostly on Chinese and Japanese developments. As always, we end with a discussion of the latest on… Read More »
Asset Allocation Quarterly (First Quarter 2021)
by the Asset Allocation Committee | PDF The economic recovery is still in the early stages and we maintain that the expected path will be long and slow moving. The Federal Reserve, along with other global central banks, will likely continue to be aggressively accommodative. Another round of fiscal stimulus is expected, which should be… Read More »