Daily Comment
Daily Comment (August 14, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] It’s mid-week in what has been a busy week. President Trump blinks (sort of) on trade. Equity markets don’t follow through, mostly due to lingering trade uncertainty and mounting evidence of global economic weakness. Hong Kong remains a flashpoint. Here is what… Read More »
Daily Comment (August 13, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] It’s an August Tuesday. Risk markets are falling again this morning. Although there is a lot of news most of it is a continuation of recent events. Here is what we are watching: Hong Kong: Protests continue this morning; check-ins have been… Read More »
Daily Comment (August 12, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] It’s an August Monday. Equities are under pressure again this morning and risk assets, in general, are weaker. Here is what we are watching: China and the dollar: For the third consecutive day, the PBOC fixed the CNY/USD exchange rate above 7. … Read More »
Daily Comment (August 9, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Friday! Equities are giving back some of yesterday’s stronger gains. The Italian government is near a collapse. U.K. economy disappoints. U.S. holds off on tech decisions. And, five decades ago today, the famous album cover photo of Abbey Road was snapped. … Read More »
Daily Comment (August 8, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Markets are relatively quiet this morning after an impressive reversal in the equity markets yesterday. We are seeing a backup in bond yields in the past hour on reports Germany may finally be considering fiscal expansion. Here is what we… Read More »
Daily Comment (August 7, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Risk assets are rising again this morning. Central banks make a splash; gold continues to march higher. Trade conflict with China remains front and center. Here are the details: Central bank surprise: The Reserve Bank of New Zealand, the Reserve… Read More »
Daily Comment (August 6, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Risk assets are getting a bounce this morning. Trade conflict with China remains front and center. Here are the details: Currency manipulator: The Treasury has officially designated China a “currency manipulator.” This designation isn’t as big a deal in reality… Read More »
Daily Comment (August 5, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] It’s Monday, but far from a happy one. Global equity markets are taking a beating while interest rates continue to decline. Geopolitical tensions are rising in several theaters. The U.S. is dealing with two mass shootings. And, the Haj begins today. Here… Read More »
Daily Comment (August 2, 2019)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Happy Friday employment day! We cover the data in detail below but the snapshot is generally in line with expectations. Payrolls were 164k, nearly bang on forecasts of 165k, although revisions lowered payrolls by a net 32k. The unemployment rate was unchanged… Read More »