Research & News
Daily Comment (October 7, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with thoughts on the rise in attacks on ships traveling through the Strait of Hormuz and the possibility of a broader conflict. Next, we examine growing speculation that the Treasury may reduce issuance of 20-year bonds and what that… Read More »
Daily Comment (October 6, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with the most recent security incident that threatens to further undermine popular support for artificial intelligence. We next review several other international and US developments that could affect the financial markets today, including the latest signs that the… Read More »
Daily Comment (October 5, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with a new release of crude oil reserves by the top industrialized countries. Of course, the move is geared toward trying to bring down energy prices as reports suggest the recent rebound in oil shipping through the Strait… Read More »
Asset Allocation Bi-Weekly – What “Real” Interest Rates Are Telling Us (October 5, 2026)
by Patrick Fearon-Hernandez, CFA | PDF One of the most important concepts in economics and finance is the “real” rate of return on an investment. The real rate is calculated by subtracting the rate of consumer price inflation from the nominal interest rate, bond yield, or price gain and dividends on a stock. If the… Read More »
Daily Comment (October 2, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with our outlook on the upcoming Brazilian elections this weekend. Next, we provide an update on Iran, examining the president’s plan to deploy additional troops to the region. We then briefly cover the ongoing war in Ukraine and the… Read More »
Daily Comment (October 1, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with our thoughts on whether the unwinding of the yen carry trade may be contributing to rising bond yields. We then turn to monetary policy where we examine White House efforts to push former Fed Chair Jerome Powell out… Read More »
Daily Comment (September 30, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Today’s Comment opens with our thoughts on the recent level of spending by AI companies. We then examine whether the United Kingdom may be considering rejoining the EU. Next, we briefly cover White House talks on AI oversight, concerns about a short… Read More »