Daily Comment
Daily Comment (March 8, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy employment Friday! We cover the data below but the quick read is that it’s mixed. The payroll data came in very weak (+20k vs. +180k expected). The unemployment rate dropped to 3.8% from 4.0% last month, and wages rose more than expected. Market reaction… Read More »
Daily Comment (March 7, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equities are lifting on the back of the ECB. Here is what we are watching this morning: ECB: The ECB went a bit further than expected in its statement.[1] There was no change in the policy rate but the statement indicated there will be a… Read More »
Daily Comment (March 6, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s another very quiet news morning. Equity futures continue to struggle. Here is what we are watching this morning: BREAKING: The ECB is reportedly cutting its inflation forecasts through 2021. The reductions are said to be enough to allow the ECB to extend easy policy… Read More »
Daily Comment (March 5, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s a very quiet news morning. When the Chinese National Party Congress dominates the news, you can tell things are slow. Equity futures are steady after a drubbing yesterday. Here is what we are watching this morning: After the Chinese trade deal: Although negotiations continue,… Read More »
Daily Comment (March 4, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equities are moving higher this morning on hopes of a U.S./China trade deal. China’s National Party Congress begins on Wednesday and the ECB meets on Thursday. Here is what we are watching this morning: Chinese trade: It appears the U.S. and China are nearing a… Read More »
Daily Comment (March 1, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s a risk-on Friday with little news to account for the strength. World PMIs (see below) remain rather soft, although several (including China) came in above depressed expectations. Here is what we are watching this morning: MSCI lifts China: The index provider MSCI has boosted… Read More »
Daily Comment (February 28, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] The U.S./North Korea summit ended abruptly as the leaders reached an impasse. We are seeing some modest flight to safety market action. Here is what we are watching this morning: The summit abruptly ends: The two sides reached an impasse. North Korea was willing to… Read More »
Daily Comment (February 27, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] There is an escalation between India and Pakistan, and a summit in Hanoi. Futures markets suffered a technical glitch and stopped trading for several hours overnight.[1] Here is what we are watching this morning: India v. Pakistan: There has been an escalation of tensions between… Read More »
Daily Comment (February 26, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equities are taking a breather this morning in a news heavy environment. Here is what we are watching this morning: Brexit: The drama continues. PM May met with her cabinet this morning and will support a vote on delaying Brexit past the March 29 deadline[1] and… Read More »