Daily Comment
Daily Comment (April 2, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! After a drubbing yesterday, we are seeing a rebound in global markets this morning. One of the factors helping sentiment is a 10% jump in crude oil prices. The White House is continuing to talk to Russia and the KSA,… Read More »
Daily Comment (April 1, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy April Fool’s Day! But please don’t expect any foolishness here! As always, we soberly review the latest U.S. projections on the course of the COVID-19 pandemic, which have rattled the markets so far this morning. We also note the Fed has… Read More »
Daily Comment (March 31, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] As March draws to a close today, we’re reminded of the old adage about the month: in like a lion, out like a lamb. After what we’ve all gone through during the last month, we certainly hope for a day that’s as… Read More »
Daily Comment (March 30, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning and happy Monday! Before we begin, we want to note a correction from our Friday comment; we erroneously reported the NHL had cancelled its season.[1] That wasn’t true, and we apologize for any confusion. Global equities are lower and oil… Read More »
Daily Comment (March 27, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Happy Friday as we wrap up another long week. After three days of vigorous equity rallies, we are taking a breather this morning. We update all the COVID-19 news. Venezuela’s president is indicted. Israel has a new unity government. Here are the… Read More »
Daily Comment (March 26, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] The long-awaited initial claims data is out; we offer details below, but claims rose a record 3.28 mm. After a two-day respite, equities have turned lower. As we note below, the Senate has passed a $2.0 trillion spending package. As usual, we… Read More »
Daily Comment (March 25, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] For the first time in ages, it actually feels right to say, “Happy Wednesday,” given the historic surge in U.S. stocks yesterday (the Dow’s rise of more than 11% was its best daily gain since 1933). Just as important, Republicans and Democrats… Read More »
Daily Comment (March 24, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] As Tuesday dawns and financial markets surge, it’s important to remember that true market stabilization amidst the pandemic would probably require three things: 1) full support for the economy and financial markets by the Federal Reserve and other major central banks; 2)… Read More »
Daily Comment (March 23, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] It’s Monday. Global markets remain in risk-off mode after the Senate’s first swing at the third phase of the rescue package fails. BREAKING: FED GIVEN BROADER POWERS TO INTERVENE IN FINANCIAL MARKETS—MORE BELOW—S&P FUTURES RECOVER. We update the COVID-19 virus news. Here… Read More »