Daily Comment
Daily Comment (August 24, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF It’s Monday and the last full week of August (that month went by fast, didn’t it?)! There is a lot going on this morning. We have twin tropical storms, one already in the Gulf of Mexico and the other on… Read More »
Daily Comment (August 21, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Happy Friday! Equity futures are mostly marking time this morning. We lead off with foreign news; Iran, North Korea, and Russia are the focus. We also update news on China, followed by policy news and the latest on the pandemic. … Read More »
Daily Comment (August 20, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF We are seeing some reversals of recent trends in the wake of the Fed minutes. Currently, equity markets are lower this morning. Some of the weakness is being attributed to the lack of new fiscal stimulus, but we think a… Read More »
Daily Comment (August 19, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF On this, the 29th anniversary of the August 1991 coup in the Soviet Union, it looks like the U.S. equity market will follow through on its rise yesterday to a new record-high close. Today’s apparent follow-through comes despite very little… Read More »
Daily Comment (August 18, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF The modest uptick in risk assets so far today comes despite new U.S. moves to punish Chinese companies on national security and economic policy grounds, as well as the continued stalemate over a new U.S. coronavirus relief bill. We review… Read More »
Daily Comment (August 17, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Happy Monday. Equity markets are higher this morning as the S&P 500 slowly trends toward a new high. Foreign news leads off our comments this morning, with a special focus on Belarus. China news is next, followed by market and… Read More »
Daily Comment (August 14, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Happy Friday! It looks like a risk-off morning. Foreign news is the opening focus—the U.S. has engineered the UAE’s recognition of Israel, only the third nation in the region (Jordan and Egypt are the others) to grant formal recognition. China… Read More »
Daily Comment (August 13, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF The summer doldrums are upon us. Equity markets are mostly steady, with the dollar weakening. We detail the claims data below, but they are showing improvement. We lead with market and economic news this morning, followed by China. Foreign news… Read More »
Daily Comment (August 12, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF The mixed-to-higher tenor of risk assets so far today is understandable given the mixed news on the coronavirus. U.S. infections continue to moderate, but there has been little discernible progress on a new pandemic relief bill. Separately, Joe Biden announced… Read More »