Research & News

Weekly Energy Update (November 11, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After pulling back from $85 per barrel, the market made another assault on the price level, but that level is proving to give strong resistance. (Source: Barchart.com) Crude oil inventories rose 1.0 mb compared to a 2.6 mb build forecast.  The SPR declined 3.1… Read More »

Daily Comment (November 10, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Today’s Comment opens with key U.S. developments that could have an impact on the financial markets today, including news of a new government crackdown on crime at big companies.  We next cover a range of international news, including the appointment… Read More »

Daily Comment (November 9, 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 a range of U.S. news, including new details on a corporate tax hike in the Democrats’ proposed health, education, and climate bill.  The U.S. news also includes the latest opening on the Federal Reserve’s… Read More »

Weekly Geopolitical Report – Meet Fumio Kishida (November 8, 2021)

by Patrick Fearon-Hernandez, CFA | PDF Whenever a big, rich country gets a new leader, there could be potential investment implications, and Japan is no exception to this rule.  When former Prime Minister Suga announced last summer that he wouldn’t seek reelection as head of the ruling Liberal Democratic Party, the first step in Japan’s… Read More »

Daily Comment (November 8, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning and happy Monday!  It’s lighter in the morning but will be darker earlier.  Risk markets are modestly higher this morning.  Tesla (TSLA, USD, 1222.09) is making news (and might be lowering the major indices) after Elon Musk had… Read More »

Daily Comment (November 5, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning! A strong jobs report has pushed U.S. equity futures higher this morning. Today’s Comment begins with U.S. economic and policy news followed by several China-related stories. International news is next, and we conclude with our pandemic coverage. Economics… Read More »

Asset Allocation Weekly – Is Monetary Policy Affected by Financial Markets? (November 5, 2021)

by the Asset Allocation Committee | PDF In the 1980s, economic graduate students were taught that the “wealth effect” was minor at best.  It is a behavioral theory that measures the impact of rising wealth on consumption.  In theory, when a household’s assets increase in excess of its liabilities, there should be a tendency for… Read More »

Daily Comment (November 4, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning.  Risk markets are mostly moving higher this morning.  Our coverage focuses on central banks this morning.  The Bank of England was unexpectedly dovish while the Fed is moving to taper.  We look at the impact.  Our regular coverage… Read More »

Weekly Energy Update (November 4, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After touching $85 per barrel, oil prices have dropped on rising inventories and worries about tightening monetary policy. (Source: Barchart.com) Crude oil inventories rose 3.3 mb compared to a 2.0 mb build forecast.  The SPR declined 1.6 mb, meaning the net draw was 1.7… Read More »

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