Daily Comment
Daily Comment (May 15, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Good morning! Markets are mixed this morning as Chinese equities lifted on speculation that Beijing will provide stimulus following weak economic data, while concerns that U.S. tariffs could dampen economic growth have weighed on U.S. futures. Here are the stories we are following today: War… Read More »
Daily Comment (May 14, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Markets were mixed this morning as rising tensions in the Middle East have caused oil prices to increase, while a softening of rhetoric by the president has restored optimism for a possible trade deal between the U.S. and China. Here are the stories we are… Read More »
Daily Comment (May 13, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Good morning, all! Equities are soft this morning due to rising tensions in trade and the Middle East. Here are the stories we are watching: China responds: This morning, China decided to impose tariffs on $60 billion of U.S. goods starting June 1. The decision… Read More »
Daily Comment (May 10, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] The tariffs were applied at midnight. Here is what we are watching: China trade: As the president promised, tariffs on trade with China were applied at midnight.[1] Interestingly enough, financial markets took the news in stride, with equities up across the world…until a series of… Read More »
Daily Comment (May 9, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Trade concerns remain, while tensions with Iran increase. Here is what we are watching: China trade: Although Chinese negotiators are meeting with U.S. officials today, it appears we are heading toward tariffs at midnight EDT tonight. China has vowed to retaliate.[1] In a speech (granted,… Read More »
Daily Comment (May 8, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Risk-off continues. Tensions with Iran are increasing. South Africa holds elections today. Here is what we are watching: The Iran issue: SoS Pompeo abruptly canceled a meeting with German Chancellor Merkel and made an unannounced visit to Baghdad.[1] According to reports, he made the detour… Read More »
Daily Comment (May 7, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Trade tensions remain. Parsing the Iran threat. Here is what we are watching: Trade turmoil: So, is the tariff threat real or a bluff? Equity markets decided yesterday that it was more the latter than the former.[1] This morning, equity markets seem less convinced. This… Read More »
Daily Comment (May 6, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Monday as we clear out the “tequila cobwebs” this morning! Cyclone Fani made landfall over the weekend.[1] Ramadan begins.[2] Trade turmoil returns. It’s a massive risk-off day so far. Here is what we are watching: Trade turmoil: On Sunday afternoon, President Trump tweeted that,… Read More »
Daily Comment (May 3, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s employment Friday! We cover the data in detail below, but the quick take is that it was a blowout report. Payrolls were well above forecast and the unemployment rate fell to its lowest level since December 1969. Here is what we are watching: Moore… Read More »