Research & News
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 »
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 »
Weekly Geopolitical Report – Approaching a Traffic Light in Germany (November 1, 2021)
by Patrick Fearon-Hernandez, CFA | PDF Germany’s parliamentary elections in late September were momentous for several reasons. Perhaps most important, the elections set the stage for a new leader to take power as Chancellor Angela Merkel decided not to stand for another term after leading Germany since 2005. However, even though the retiring Merkel is… Read More »
Asset Allocation Weekly – The Debt Ceiling and the Platinum Coin (October 29, 2021)
by the Asset Allocation Committee | PDF The debt limit on authorized Treasury borrowing has created a periodic problem in recent years. When the limit had been reached in the past, it triggered a government shutdown. However, not all government shutdowns are simply due to reaching the debt ceiling. Sometimes a closure occurs because Congress… Read More »
Weekly Energy Update (October 28, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices have moved above $85 per barrel this week but retreated on this week’s inventory data. (Source: Barchart.com) Crude oil inventories rose 4.3 mb compared to a 1.8 mb build forecast. The SPR declined 1.1 mb, meaning the net draw was 3.2 mb. In… Read More »
Weekly Geopolitical Report – Here Comes China! (October 25, 2021)
by Thomas Wash | PDF Following President Donald Trump’s withdrawal from the Transpacific Partnership (TPP) in January 2017, it was believed that the agreement would die a quiet death. However, with the leadership of Japan and Australia, the agreement found new life and the remaining members decided to move forward with the deal. Although the… Read More »
Asset Allocation Weekly – The Inflation Adjustment for Social Security Benefits in 2022 (October 22, 2021)
by the Asset Allocation Committee | PDF Even for dedicated, successful investors who have built up a substantial nest egg, Social Security retirement and disability investments can be an important part of one’s financial security. For many Americans, Social Security benefits may be the only significant source of income in old age. On average, Social… Read More »