Daily Comment
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 »
Daily Comment (February 11, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] U.S. equity futures are trending higher this morning after a later rally on Friday. It’s the 40th anniversary of the Iranian Revolution.[1] Here is what we are watching today: Trade: Talks between China and the U.S. will restart next week; the focus on this round will… Read More »
Daily Comment (February 8, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] U.S. equity futures are under pressure again this morning. Here is what we are watching today: Trade: Yesterday, we noted that the lack of dollar depreciation was starting to become a problem for equities. Although the reversal of the FOMC on monetary policy is, by itself,… Read More »
Daily Comment (February 7, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] U.S. equity futures are under pressure again this morning. Here is what we are watching: What’s eating the market? We are seeing a series of foreign central bank easing actions or signals thereof. Yesterday, the Reserve Bank of Australia surprised the markets with a rate cut. … Read More »
Daily Comment (February 6, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] U.S. equity futures are a bit lower this morning in a very quiet trade. Here is what we are watching today: State of the Union: For financial markets, there wasn’t much in the speech that mattered. There was nothing on taxes and the potential for any… Read More »
Daily Comment (February 5, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] U.S. equity futures are modestly higher this morning in a very quiet trade. Much of Asia remains closed for the New Year. Here is what we are watching this morning: The President and the Chair: President Trump, Treasury Secretary Mnuchin, Chair Powell and Vice Chair Clarida… Read More »
Daily Comment (February 4, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] The Year of the Pig begins! Several Asian markets were closed and China will be closed all week. Thus, it was a very quiet overnight session. Here is what we are watching this morning: Venezuela: Although the EU did not act as a group to call… Read More »
Daily Comment (February 1, 2019)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s employment day! We cover the data in detail below but here is a quick rundown. The payroll data came in much stronger than expected, but there was a large downward revision to December. The unemployment rate ticked higher, but that was likely due to the… Read More »