Daily Comment
Daily Comment (July 31, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s July 31st, the Feast Day of St. Ignatius of Loyola, the founder of the Society of Jesus (Jesuits). Here is what we are watching: BREAKING: CHINA SEEKING NEW TRADE TALKS TO DEFUSE TRADE WAR. EQUITIES RISE ON NEWS. BOJ: The BOJ has spoken and not… Read More »
Daily Comment (July 30, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Today we kick off central bank week. The BOE, BOJ and Fed all meet this week. The last meeting is probably of least consequence. Here is what we are watching: BOJ: The BOJ has clearly spooked the market; the Japanese central bank’s current policy is to… Read More »
Daily Comment (July 27, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s GDP day! We detail the data below but the quick take is that it was a very solid number, up 4.1%. Unfortunately, hyperbolic comments from the White House in front of the report increased the odds of disappointment. The initial market reaction is showing disappointment. … Read More »
Daily Comment (July 26, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] A deal…sort of: President Trump and EU Commission President Juncker announced a trade deal has been reached.[1] Equities rose, interest rates moved higher and the dollar eased as investors took the news as a “risk-off” event. We were surprised by the outcome. And, on its… Read More »
Daily Comment (July 25, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Markets are quiet this morning, typical for mid-summer. Here is what we are watching: Juncker to the White House: The president of the EU Commission, Jean-Claude Juncker, visits the White House today.[1] It is expected he will offer the U.S. some sort of narrow trade pact… Read More »
Daily Comment (July 24, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s a quiet Tuesday so far. Equity markets are rising around the world and the White House has been mostly dormant this morning. Here is what we are watching: Chinese stimulus: Since the mid-1990s, China has managed its economy for high levels of growth. Most of… Read More »
Daily Comment (July 23, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Although it was a quiet weekend, we have had a busy morning. Here is what we are watching: Iran: There was media sniping this morning, which appears to have started in Iran. First, President Rouhani of Iran warned the U.S. not to escalate tensions with his… Read More »
Daily Comment (July 20, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] There is a lot going on. Let’s dig in: The president speaks: For the most part, President Trump has been opposed to a weak dollar. At Davos this year, Treasury Secretary Mnuchin suggested a weaker dollar might be in U.S. interests if the goal was a… Read More »
Daily Comment (July 19, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Global equity markets are lower this morning. The EuroStoxx 50 is down 0.3% from the last close. In Asia, the MSCI Asia Apex 50 was down 0.2% from the prior close. Chinese markets were down, with the Shanghai composite down 0.5% and the Shenzhen index down… Read More »