Research & News

Daily Comment (January 7, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Financial and commodity markets are rather quiet this morning as we await Iran’s response.  Investor sentiment is starting to recover as risk assets are recovering.  China reported its foreign reserves.  We are watching a new pneumonia emerging from China.  As a side… Read More »

Daily Comment (January 6, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Happy Monday!  It’s another risk off morning, as issues surrounding Iran dominate the news and the markets.  We update the situation in the Middle East this morning.  In other news, Hong Kong has a new administrator and Phase One of the U.S./China… Read More »

Daily Comment (January 3, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] The fifth episode of the Confluence of Ideas podcast has been posted.  “Arriving at Decisions” examines the issues that surround making decisions under conditions of uncertainty. Happy Friday!  With the world still in New Year’s holiday mode, there’s little interesting news in… Read More »

Daily Comment (January 2, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] The fifth episode of the Confluence of Ideas podcast has been posted.  “Arriving at Decisions” examines the issues that surround making decisions under conditions of uncertainty. Happy New Year everyone! Global equities began 2020 with a bang, as markets responded favorably to… Read More »

Asset Allocation Weekly (December 20, 2019)

by Asset Allocation Committee (N.B.  This is our last Asset Allocation Weekly for 2019.  The next edition will be published January 10, 2020.) Did the Fed engineer a soft landing?  That is the critical question for 2020.  If the Fed, through its rate cuts last year,[1] has rescued the economy, it would be one of the… Read More »

Daily Comment (December 20, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] N.B.  A couple of items.  First, the Daily Comment will go on hiatus from Dec. 23, 2019, to Jan. 1, 2020.  Publication will resume on Jan. 2, 2020.  Second, the fifth episode of the Confluence of Ideas podcast has been posted.  “Arriving… Read More »

2020 Outlook: Storm Watch (December 19, 2019)

by Bill O’Grady & Mark Keller Summary – The Base Case: Economy grows at 1.5%; consumption has become the primary driver of growth. Expansion continues to set new records for duration; no recession is our base case in 2020, although there are increasing risks of a downturn. Core inflation max is 2.5% next year. Dollar… Read More »

Daily Comment (December 19, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] N.B.  A couple of items.  First, the Daily Comment will go on hiatus from Dec. 23, 2019 to Jan. 1, 2020.  Publication will resume on Jan. 2, 2020.  Second, the fifth episode of the Confluence of Ideas podcast has been posted.  “Arriving… Read More »

Daily Comment (December 18, 2019)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Good morning, all. So far, the overnight news has been relatively mum as fears of an ongoing trade war appear to be dissipating. Meanwhile, rising concerns of a “hard” Brexit have weighed on the pound. Below are the stories we will be… Read More »

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