Research & News
Asset Allocation Bi-Weekly – The Case for New Home Sales (May 22, 2023)
by the Asset Allocation Committee | PDF A common topic among the financial markets is the impact of rapid monetary policy tightening. After years of accommodative monetary policy, the spike in inflation caused by the pandemic has continued to persist. To address the inflation issue, the FOMC has lifted the policy target rate at the… Read More »
Daily Comment (May 19, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment will start with our thoughts on the recent performance of European stocks. Next, we will give a broad overview of the limitations and controversy surrounding generative artificial intelligence. Lastly, we explain why emerging markets may not be keen… Read More »
Daily Comment (May 18, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment starts with an update on the U.S. debt-ceiling discussion and an explanation as to why it may not be as bullish as some investors would expect. Next, we explain why calls for a Fed interest rate cut in… Read More »
Weekly Energy Update (May 18, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices were mostly steady over the past week. Recession fears continue to stifle price movements. (Source: Barchart.com) Commercial crude oil inventories rose 5.0 mb compared to the forecast draw of 2.0 mb. The SPR fell 2.4 mb, putting the total build at 2.6… Read More »
Daily Comment (May 17, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with a hawkish statement by Bank of England Governor Bailey that suggests British interest rates are likely to go higher. We next review a wide range of other international and U.S. developments with the potential to affect the… Read More »
Daily Comment (May 16, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with new forecasts showing global crude oil demand in 2023 will likely rise more than expected, potentially boosting prices later in the year. We next review a wide range of other international and U.S. developments with the potential… Read More »
Bi-Weekly Geopolitical Report – Opportunities and Risks in a Tripolar Nuclear World (May 15, 2023)
Patrick Fearon-Hernandez, CFA | PDF Some 30 years into China’s development boom, it’s no longer controversial to say that tomorrow’s global investment environment will be shaped by Beijing’s effort to displace the United States as the world’s dominant country. China remains focused on building its various sources of power, whether they be political, economic, technological,… Read More »
Daily Comment (May 15, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with a major mining merger that underscores our oft-stated view that global commodity markets are set to enter a prolonged boom period once we get past the expected recession. We next review a wide range of other international… Read More »
Daily Comment (May 12, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment starts with our thoughts about this weekend’s presidential election in Turkey. Next, we explain why the recent drop in the British Pound Sterling (GBP) against the U.S. dollar may not hold. Lastly, we discuss how the controversy in… Read More »