Research & News
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 »
Daily Comment (June 10, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Equities futures are trading lower this morning after the CPI report was hotter than expected. Today’s Comment starts with a brief update on the Russia-Ukraine war. Next, we review the latest international news, focusing on the ECB’s hawkish shift. We examine some… Read More »
Daily Comment (June 9, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF In today’s report, we examine the recent weakness in the yen. Up next, we review the latest developments in the Russia-Ukraine war. We briefly discuss some international and U.S. news stories and close with our COVID-19 coverage. Dovish BOJ: The yen depreciated… Read More »
Weekly Energy Update (June 9, 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 3.3 mb draw forecast. The SPR declined 7.3 mb, meaning the net draw was 5.2 mb. In the details, U.S. crude oil production… Read More »
Daily Comment (June 8, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today begins with an update on the Russia-Ukraine war, where it appears neither side achieved any substantial territorial gains over the last day. The more important news from the war is that we are seeing the first signs of significant… Read More »
Daily Comment (June 7, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF We open our Comment today with an update on the Russia-Ukraine war, where the Russians continue to gain small amounts of territory in eastern Ukraine while the Ukrainians stage modestly successful counterattacks. We next review a range of international and U.S. developments… Read More »
Bi-Weekly Geopolitical Report – Mineral Commodities in the World’s New Geopolitical Blocs (June 6, 2022)
by Patrick Fearon-Hernandez, CFA | PDF For many years, we’ve discussed how the United States has been backing away from its historical role as global hegemon, setting the stage for deglobalization and a fracturing of the world into separate geopolitical and economic blocs. In our Bi-Weekly Geopolitical Report from May 9, 2022, we provided a… Read More »
Daily Comment (June 6, 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. Russian troops continue to make some progress in seizing territory in Ukraine’s eastern Donbas region, but the Ukrainians are also launching some small but successful counterattacks. We next review a range… Read More »
Daily Comment (June 3, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s report begins with an update on the Russian invasion of Ukraine. Next, we discuss the latest economic and policy news, including our thoughts on recent Fed comments. Afterward, we review some international stories that could impact markets today and… Read More »