Research & News
Daily Comment (February 15, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with a new forecast indicating that global oil demand is expected to rebound to a record high in 2023. We next review a wide range of other international and U.S. developments with the potential to affect the financial… Read More »
Daily Comment (February 14, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with two key developments in European Union economic policy, including a suggestion that the European Central Bank will tighten monetary policy more than expected and the passage of a new law that will ban the sale of gasoline-powered… Read More »
Daily Comment (February 13, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with a number of observations regarding China’s relations with the rest of the world, driven by the wave of Chinese surveillance balloons belatedly discovered in North American airspace (although we don’t delve into why the North American Defense… Read More »
Asset Allocation Bi-Weekly – Reflections on Inflation (February 13, 2023)
by the Asset Allocation Committee | PDF [Note: There will be no accompanying podcast with this report.] Several advisors and their clients have been asking questions about inflation, which suggests there is a degree of uncertainty surrounding the issue. This uncertainty is understandable as inflation is a very complicated subject and, unfortunately, economic theory has… Read More »
Daily Comment (February 10, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Good morning! Today’s Comment begins with Russia’s latest response to the Western price cap and sanctions. Next, the report discusses what the deepening yield curve says about the financial market. The report concludes with our thoughts on the likely new Governor of… Read More »
Daily Comment (February 9, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Today’s Comment begins with our thoughts on a report written by Seymour Hersh concerning the explosions that damaged the Nord Stream pipelines. We next share our view on the market’s switch in sentiment regarding central bank hawkishness. Next, we discuss the dollar’s… Read More »
Weekly Energy Update (February 9, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices appear to have based but so far have failed to break above resistance at around $80-$82 per barrel. (Source: Barchart.com) Crude oil inventories rose 2.4 mb compared to a 2.0 mb build forecast. The SPR was unchanged. In the details, U.S.… Read More »
Daily Comment (February 8, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with the latest on the spiraling of tensions between the U.S. and China. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets today, including news that the… Read More »
Daily Comment (February 7, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with news that yesterday’s earthquakes in Turkey have closed a major oil exporting terminal, pushing up global prices. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets… Read More »
Bi-Weekly Geopolitical Report – Is Japan’s Sun Rising Again? (February 6, 2023)
Patrick Fearon-Hernandez, CFA | PDF Ever since Japan’s “bubble economy” imploded at the end of the 1980s and its population began to fall in the 2000s, investors have tended to dismiss the country’s financial markets as well as its geopolitical and economic standing. Japan’s pacifist constitution and its diplomatic deference to the United States constrained… Read More »