Daily Comment
Daily Comment (July 30, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! The FOMC meeting begins today. The GBP continues its slide. Here are the details: The Fed: Although there is almost no chance the Fed won’t cut by 25 bps tomorrow, we are watching for two items. First, Powell’s language, especially… Read More »
Daily Comment (July 29, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Monday! It’s Fed week. The MLB trading deadline is Wednesday. There was unrest around the globe. Here are the details: The Fed: It is all but certain the FOMC will cut rates on Wednesday. Former Chair Janet Yellen came out in… Read More »
Daily Comment (July 26, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Friday! As slow as the news is trickling in today, it’s clear that we’re deep into the dog days of summer. Nevertheless, we have seen a few interesting tidbits, like an initial estimate showing moderate economic growth and falling inflation here… Read More »
Daily Comment (July 25, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! The big news today is the ECB. Although the central bank for the Eurozone did not cut rates as hoped, the narrative of the statement was dovish. However, the press conference dampened the bullish enthusiasm. Here is what we are… Read More »
Daily Comment (July 24, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Mueller testifies today; we mistakenly expected it yesterday. Although the testimony will be the focus of the media, it probably won’t move the financial markets. Here is what we are watching: Trade optimism: Equity markets rallied yesterday on news that… Read More »
Daily Comment (July 23, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! There are two big items today. As expected, Boris Johnson is now the new PM of the U.K. The IMF has lowered its global growth forecasts due to trade disruptions. And, Mueller testifies today. Here is what we are watching:… Read More »
Daily Comment (July 22, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Monday! It’s going to be a busy week. The media will be mostly distracted with Mueller’s testimony. Boris Johnson is set to become PM on Tuesday. The ECB meets on Thursday with an outside chance of a rate cut. China’s version… Read More »
Daily Comment (July 19, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Friday! Fifty years ago today, Apollo 11 orbited the dark side of the moon as a precursor to the landing. In market news, it is still all about monetary policy. Tensions with Iran are rising. Here is what we are watching… Read More »
Daily Comment (July 18, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Global equity markets are trading lower this morning as worries over earnings are pressuring prices. Japan fell on weak export data and the Bank of Korea surprised with a rate cut. Here is what we are watching today: Fed talk: Perhaps the… Read More »