Research & News

Daily Comment (September 20, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning on a rather blue (or, better said, red) Monday.  U.S. equity futures are down hard this morning as stocks appear to be in a corrective phase.  There is a lot of news this morning.  There was a volcanic… Read More »

Daily Comment (September 17, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning, all! U.S. equity futures are pointing toward a lower open this morning. It has been a fairly quiet news day so far. Today’s report begins with an international news roundup followed by U.S. economics and policy. China news… Read More »

Asset Allocation Weekly – Don’t Call It a Comeback! (September 17, 2021)

by the Asset Allocation Committee | PDF Last week, the federal government’s enhanced unemployment benefits of up to $300 per week expired nationwide. It has been speculated that the end of these benefits could lead to a surge of new entrants into the labor market. However, data from the Bureau of Labor Statistics (BLS) suggests… Read More »

Daily Comment (September 16, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning.  It looks like an “everything down day” so far, although the retail sales data (see below) offered some relief.  U.S. equity futures currently are mixed after opening lower.  Treasury prices are down a bit, and commodities are weaker… Read More »

Weekly Energy Update (September 16, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices moved above $70 per barrel. (Source: Barchart.com) Crude oil inventories fell 6.4 mb compared to the 3.6 mb draw forecast.  The SPR declined 0.5 mb, meaning the net draw was 6.9 mb. In the details, U.S. crude oil production rose 0.1 mbpd to… Read More »

Daily Comment (September 15, 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 exhibiting a familiar pattern of being stronger overnight and fading into the opening.  It is clear that market momentum is waning.  We think this action is a correction of sorts, but it will be… Read More »

Daily Comment (September 14, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning and happy CPI day!  We cover the data below, but the quick read is that prices rose less than expected, lifting equity futures, which were leaning higher before the report.  Tropical Storm Nicholas has hit the Texas coast,… Read More »

Weekly Geopolitical Report – Afghanistan, Part I: History (September 13, 2021)

by Bill O’Grady | PDF The American exit from Afghanistan has created a crisis in the region.  For two decades, the U.S. has propped up a government in Kabul.  The U.S. withdrawal has led to the rapid collapse of that government and the restoration of the Taliban. The media has been closely tracking the situation… Read More »

Daily Comment (September 13, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning and happy Monday!  A lot is going on in the world today as we turn toward autumn.  After a soft week, equities are lifting this morning.  We begin with comments on what is shaping up to be a… Read More »

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