Research & News

Asset Allocation Weekly (May 28, 2021)

by the Asset Allocation Committee | PDF Gold moved steadily higher from the late summer of 2018 into last August.  Prices declined toward 1,700 into March but have been recovering since.  In this report, we will update our views on the metal. We have been holding gold in our asset allocation portfolios since 2018, although… Read More »

Daily Comment (May 27, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning.  It’s mostly a down day for risk assets in the U.S. this morning.  Our coverage begins with economics and policy, with a crypto update to follow.  China news is next.  Our international roundup comes after, and we close… Read More »

Weekly Energy Update (May 27, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF (Due to staff vacation schedules, the next report will be published on June 10.)  Oil prices continue to trade in a range from $60 to $68 per barrel. (Source: Barchart.com) Crude oil inventories fell 1.7 mb compared to the 1.0 mb draw expected.  The… Read More »

Daily Comment (May 26, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF We open today’s Comment with the state of play on President Biden’s proposed spending program on infrastructure and other economic initiatives.  We follow with several items related to technology, cybersecurity, cryptocurrencies, and tech regulation.  We then address miscellaneous international news… Read More »

Daily Comment (May 25, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF In today’s Comment, we open with the latest details on the Belarusian “state hijacking” and its impact on geopolitical relations between the U.S., Europe, and Russia.  We then continue with other international news ranging from China and Russia to Turkey… Read More »

Weekly Geopolitical Report – Taiwan and the Risk of Deglobalizing the World’s Semiconductor Industry: Part I (May 24, 2021)

by Patrick Fearon-Hernandez, CFA | PDF (Note: Due to the upcoming Memorial Day holiday, the next report will be published on June 7.) In our recent WGR series titled “The Geopolitics of Taiwan” (see Parts I, II, and III), we examined Taiwan’s geopolitical position in relation to China and the United States.  We described how… Read More »

Daily Comment (May 24, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning, and happy Monday!  U.S. equity futures are higher this morning.  The Northern Hemisphere’s hurricane season runs from June 1 to November 1, but recently it has become common for storms to form early.  NOAA has named Ana the… Read More »

Daily Comment (May 21, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning, all! U.S. equities are expected to open higher this morning as investor optimism has been bolstered by strong economic data and positive earnings reports. Today’s report starts off with a brief update of the conflict between Israel and… Read More »

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