Research & News
Bi-Weekly Geopolitical Report – The 2022 Mid-Year Geopolitical Outlook (June 21, 2022)
by Bill O’Grady and Patrick Fearon-Hernandez, CFA | PDF (N.B. Due to the Fourth of July holiday, our next geopolitical report will be published on July 18.) As is our custom, we update our geopolitical outlook for the remainder of the year as the first half comes to a close. This report is less a… Read More »
Daily Comment (June 17, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Note: the markets and our office are closed on Monday, June 20, in observance of the Juneteenth holiday. Our next report will be published on Tuesday, June 21. Today’s Comment starts with a discussion about Thursday’s steep sell-off in equities. Next, we… Read More »
Daily Comment (June 16, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Today’s Comment starts with a brief overview of central bank news from around the world, beginning with the market impact of the Federal Reserve’s decision to raise rates and ending with the broader market impact of global monetary tightening. Next, we examine… Read More »
Weekly Energy Update (June 16, 2022)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices continue to rise in an orderly fashion. (Source: Barchart.com) Crude oil inventories rose 2.0 mb compared to a 2.0 mb draw forecast. The SPR declined 7.7 mb, meaning the net draw was 5.8 mb. In the details, U.S. crude oil production… Read More »
Daily Comment (June 15, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with an update on the Russia-Ukraine war, where both sides continue to face resource constraints and are struggling to make significant new territory gains. We next review other international and U.S. developments with the potential to affect the… Read More »
Daily Comment (June 14, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF We open our Comment with an update on the Russia-Ukraine war, where we discuss how the conflict has become a competition of force generation and the two sides’ abilities to marshal resources for the fight. Next, we review other international and U.S.… Read More »
Daily Comment (June 13, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment opens with an update on the Russia-Ukraine war; Russian forces continue to make some plodding progress in seizing territory in eastern Ukraine, while the Ukrainian forces look like they’re facing more problems with ammunition shortages. We next review other international… Read More »
Asset Allocation Bi-Weekly – Homebuilders Versus Apartment Builders (June 13, 2022)
by the Asset Allocation Committee | PDF After two years of press reports about skyrocketing home prices, we assume investors are well aware that the housing market has been hot. However, “housing” includes at least two main asset types: single-family homes and apartment properties. A deep dive into the data reveals significant differences between these… Read More »