Research & News
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 »
Daily Comment (November 4, 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 on the U.S. election situation, including a detailed recap of market action in the key asset classes overnight. Believe it or not, there has also been news overseas while we’ve all been… Read More »
Daily Comment (November 3, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Our Daily Comment today opens with what we know about the U.S. elections so far (naturally, it’s very little). We also review a few key news items from overseas, including a terrorist attack in Vienna. We wrap up with the… Read More »
Weekly Geopolitical Report – Of Pirates and Computer Hackers (November 2, 2020)
by Patrick Fearon-Hernandez, CFA | PDF It’s now been more than a quarter century since the first nefarious behavior was observed on the internet. There have been countless news reports about computer hacks, stolen data, ransom scams, misinformation aimed at manipulating elections, and the like. Many of us have had to change our passwords and… Read More »
Daily Comment (November 2, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning and happy Monday. It’s November, we have switched to standard time in much of the country, and tomorrow is election day. Super Typhoon Goni passed through the Philippines over the weekend. Global equities are higher this morning. We… Read More »
Daily Comment (October 30, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF It’s Friday, the last one in October; have a safe Halloween, everyone! Equity markets are back in the red, despite impressive earnings from the large tech firms. China starts our coverage; the plenum session is over, and the next five-year… Read More »