Daily Comment
Daily Comment (April 27, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s a busy Friday. Here is what we are watching: Korean leaders meet: In a historic event, the leaders of North and South Korea met and Kim Jong-un became the first DPRK leader to visit the South since the war. The two leaders vowed to work… Read More »
Daily Comment (April 26, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] ECB: The statement was dovish. It indicated that balance sheet expansion is scheduled to end in September but actual tapering won’t start anytime soon. Interest rates were left unchanged and forward guidance was generally left unchanged, meaning rates are expected to stay low even after… Read More »
Daily Comment (April 25, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equity market weakness continues this morning after a sell-off yesterday. The dollar is rising, boosted by the 10-year T-note definitively breaking 3%. Here is what we are watching this morning: Did Macron save the Iran deal? Probably not. Although it isn’t obvious what “plan B” is… Read More »
Daily Comment (April 24, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It was an unusually quiet night. After a barrage of tweets recently, the president appears occupied with his French visitor for now, which might account for the current “tweet silence.” Earnings are coming in stronger than expected (see above), while Treasury yields remain elevated. Here is… Read More »
Daily Comment (April 23, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It was a very busy weekend. This morning, 10-year T-note yields briefly touched 3.00% and remain near that level. The dollar is higher on somewhat soft European PMI data. Here is what we are watching this morning: North Korean thaw: Kim Jong-un said his nation would… Read More »
Daily Comment (April 20, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It was a mostly quiet overnight session. Here is what we are watching this morning: Policy talk boosts greenback: Dovish comments from the ECB and BOE have lifted the dollar this morning. The ECB is considering delaying the path of tapering due to recent economic weakness… Read More »
Daily Comment (April 19, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Castro era coming to an end: Today, Raul Castro, brother of Fidel Castro, is expected to step down as Cuba’s president. Castro will be replaced by his vice president, Miguel Diaz-Canel Bermudez, but will still retain his role as head of the Communist Party until… Read More »
Daily Comment (April 18, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equity markets are quietly ticking higher. Earnings remain strong. Although there wasn’t much market news, there was a great deal of other news. Here is what we are watching: Pompeo to Pyongyang: Over Easter, CIA Director and SOS nominee Mike Pompeo was dispatched to North Korea… Read More »
Daily Comment (April 17, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It was mostly quiet overnight. Continued robust earnings are lifting equities this morning. Here is what we are watching: Abe to Florida: Japanese PM Abe will meet today with President Trump at Mar-a-Lago. The meetings come at a difficult time for Japan. Abe is facing domestic… Read More »