Research & News
Daily Comment (January 14, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Good morning! Today’s report begins with President Biden’s Fed picks and additional U.S. economic and policy news. Next, we discuss China’s trade surplus. We then focus on international news, and we conclude with a pandemic update. Economics and policy: The White House… Read More »
Daily Comment (January 13, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Good morning! Today’s report begins with a discussion about the recent remarks made by FOMC members. This is followed by U.S. economic and policy news a China-related story. International news is next, and we end with our pandemic coverage. More Hikes? The… Read More »
Weekly Energy Update (January 13, 2022)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Since troughing in early December, oil prices have been steadily rising due to tightening supplies. We are approaching the highs set in November. (Source: Barchart.com) Crude oil inventories fell 4.6 mb compared to a 1.7 mb draw forecast. The SPR declined 0.3 mb, meaning… Read More »
Daily Comment (January 12, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF In today’s Comment, we open with a discussion of Federal Reserve Chair Powell’s testimony yesterday before the Senate Banking Committee, in which he doubled down on his recent hawkishness regarding inflation. We next turn to various international developments that have the potential… Read More »
Daily Comment (January 11, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF We open today’s Comment with a preview of Federal Reserve Chair Powell’s testimony before Congress today. We also cover other U.S. news, including the U.S.-Russia meeting yesterday over Eastern European security issues. We next review several international items that could affect the… Read More »
Daily Comment (January 10, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF In today’s Comment, we open with geopolitical news and a focus on Russia’s aggressive stance toward the countries surrounding it. Notably, we discuss today’s U.S.-Russian security talks seeking to de-escalate the situation in Ukraine. We next turn to other international news and… Read More »
Asset Allocation Bi-Weekly – The Path of Monetary Policy (January 10, 2022)
by the Asset Allocation Committee | PDF Our expectation of no policy rate hikes this year is an out-of-consensus call in our 2022 Outlook: The Year of Fat Tails. There are a couple of factors that suggest rate hikes this year. First, financial markets have factored in rate hikes. Fed funds futures suggest a greater… Read More »
Daily Comment (January 7, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Good morning! We begin today’s report with news from the Fed followed by China-related stories, including the latest on the real estate situation. Next is an update on the protests in Kazakhstan and various other international news. We conclude with our pandemic… Read More »
Daily Comment (January 6, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Good morning! Today’s report begins with U.S. economic and policy news followed by China-related stories. International news is next, and we end with our pandemic coverage. Economics and policy: The Federal Reserve released its meeting minutes on Wednesday. Overall, the report confirmed… Read More »