Daily Comment
Daily Comment (February 25, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s a risk-on day with China’s equities on a tear. Here is what we are watching this morning: It’s official—tariffs are delayed: Although anyone paying attention would not be surprised by this outcome, President Trump confirmed that the next round of tariffs on China will be… Read More »
Daily Comment (February 22, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s a modest risk on day today in front of “mega Fed”—seven FOMC members will talk today.[1] Here is what we are watching this morning: Fed minutes follow-up: Yesterday, we noted two quotes lifted from the Fed minutes. …several of the participants argued that rate increases… Read More »
Daily Comment (February 21, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] U.S. equity futures are steady this morning in quiet trading. There is some optimism, however, on the China/U.S. trade talks and on the Fed’s balance sheet. European and Japanese PMIs were disappointing, suggesting weaker global growth, and the Philly Fed was very weak (see below). Here… Read More »
Daily Comment (February 20, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s mid-week (already!). Global equities are stronger this morning and U.S. equity futures are flat. Here is what we are watching this morning: More U.K. defections: Yesterday, we reported that seven Labour MPs left their party to form a new centrist party, called the Independent Group. … Read More »
Daily Comment (February 19, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Welcome back! The three-day weekend is now past and it’s back to work. Global equities are weaker this morning and U.S. equity futures are too. Here is what we are watching this morning: The world goes dovish: The FOMC is reconsidering its balance sheet policy[1] and… Read More »
Daily Comment (February 15, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] U.S. equity futures are steady to higher this morning in quiet trading. There is some optimism on the China/U.S. trade talks and on the Fed’s balance sheet. Here is what we are watching this morning: Trade talks: Although there isn’t much evidence of real progress (e.g.,… Read More »
Daily Comment (February 14, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy St. Valentine’s Day! U.S. equity futures are trending higher this morning in quiet trading. Here is what we are watching: White House calming markets: The president is reportedly considering pushing back the trade deadline by 60 days and backing a border security bill that would… Read More »
Daily Comment (February 13, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] U.S. equity futures are trending higher this morning in quiet trading. Here is what we are watching: Brexit: PM May has asked for more time to negotiate with Brussels.[1] Apparently, she is still seeking changes to the Irish backstop, although there isn’t much evidence at this… Read More »
Daily Comment (February 12, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] U.S. equity futures are trending higher this morning after a mostly flat day yesterday. The big news is that negotiators have reached a deal to avoid a government shutdown. Here is what we are watching this morning: Shutdown averted: Negotiators have reached a deal to avoid… Read More »