Research & News
Daily Comment (March 16, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with an update on the US-Israeli war against Iran and President Trump’s call for foreign nations to chip in with naval forces to restart the flow of oil, natural gas, and other commodities through the Strait of Hormuz.… Read More »
Asset Allocation Bi-Weekly – Are Long-Term Treasurys No Longer a Safe Haven? (March 16, 2026)
by Patrick Fearon-Hernandez, CFA | PDF Historically, major geopolitical or economic crises, such as the war against Iran, have prompted investors to sell riskier assets and buy “safe-haven” investments whose values were expected to remain stable or even rise amid the disruptions. The most popular safe havens have been the US dollar, gold, and longer-term… Read More »
Daily Comment (March 13, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with our perspective on why private credit exposure to software companies has attracted heightened scrutiny. We then examine how the White House is seeking to ease war-related supply chain stresses. Next, we highlight key market developments, including signs of… Read More »
Daily Comment (March 12, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with an update on the war in Iran, focusing on rising tensions around the Strait of Hormuz. We then review the February CPI report and assess how the Middle East conflict could shape the path of inflation. Next, we… Read More »
Daily Comment (March 11, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment opens with what Oracle’s earnings signal about the AI investment cycle, then examines how the US’s difficulty in securing passage through the Strait of Hormuz illustrates the challenges of confronting smaller asymmetric adversaries. We next highlight key market developments: the… Read More »
Daily Comment (March 10, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with the latest news on the Iran War and discusses how challenging it will be to end the conflict in the near term. We next review several other international and US developments with the potential to affect the… Read More »
Bi-Weekly Geopolitical Report – The Geopolitics of US Dollar Stablecoins (March 9, 2026)
by Bill O’Grady | PDF The expansion and regulation of stablecoins have become major policy goals of the Trump administration. This form of cryptocurrency has the potential to dramatically improve the transfer of funds between economic entities and could be a new source of demand for US Treasurys. In this report, we will define what… Read More »
Daily Comment (March 9, 2026)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM ET] | PDF Our Comment today opens with the big weekend surge in global energy prices, which has pushed Brent crude well above $100 per barrel and threatens to push US gasoline prices above $4.00 per gallon in the coming weeks. We next review several… Read More »