Research & News
Daily Comment (June 17, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Risk assets have wind in their sails today, in large part due to easing coronavirus lockdowns, signs of rapid economic recovery and continued policy support around the globe. However, those positives are being offset to some extent by serious new geopolitical tensions… Read More »
Daily Comment (June 16, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Risk assets are on a tear so far today in response to a blockbuster report on U.S. retail sales suggesting that the economy may be rebounding from the coronavirus crisis more rapidly than expected. At the same time, officials across the globe… Read More »
Weekly Geopolitical Report – The Geopolitics of the 2020 Election: Part IV (June 15, 2020)
by Bill O’Grady In this five-part series on the geopolitics of the 2020 election, we have divided the reports into nine sections. Last week, in Part III, we covered the incidence of establishment policy and the role of social media. This week, we reveal the sixth and seventh sections; we handicap the race as it… Read More »
Daily Comment (June 15, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning and happy Monday! It’s another risk-off day as financial markets recoil from reports of rising COVID-19 infections. Our usual commentary on COVID-19 is available. We update on China and trade issues with the U.K./EU/U.S. We are watching U.S./Russian relations as… Read More »
Asset Allocation Weekly (June 12, 2020)
by Asset Allocation Committee Although gold is the primary precious metal for investors, platinum, palladium and silver also can fulfill that role. Complicating matters is that these three metals are dual-use products. Unlike gold, which has few uses outside of monetary (store of value) purposes and jewelry, these other three have industrial uses as well. About… Read More »
Daily Comment (June 12, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning and happy Friday! After a big drop yesterday, equities are recovering this morning. Our take gets top billing in today’s report. Next up is tech news, followed by foreign developments. After those sections, we offer a couple of interesting charts.… Read More »
Daily Comment (June 11, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning. It’s a risk-off day so far, with global equities falling. Some of this appears to be some well-deserved profit taking in the wake of a strong equity rally. The FOMC meeting ended yesterday. We examine what they announced and other… Read More »
Daily Comment (June 10, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] The relatively muted tenor in risk assets so far today comes as investors look forward to the Fed’s latest policy decision, forecast update and Chairman Powell’s news conference this afternoon. We’ve also seen some pessimistic forecasts for the global economy from the… Read More »
Daily Comment (June 9, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Our newest podcast episode, “The Long-Term Effects of COVID-19,” is available. In this episode, we discuss how the COVID-19 pandemic will likely accelerate the reversal of the equality/efficiency cycle toward equality. Many countries continue to report falling coronavirus infection rates and economic… Read More »