Daily Comment
Daily Comment (October 5, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are very quiet again this morning in front of the employment data on Friday. Here is what we are watching: PM May’s no good, very bad day: With compliments to Judith Viorst,[1] the Tory PM has had a really rough run recently. She was… Read More »
Daily Comment (October 4, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are very quiet again this morning in front of the employment data on Friday. Here is what we are watching this morning: Fed chair decision: President Trump has distilled a short list for replacing (or, perhaps, reappointing) the position of Fed chair. Below is… Read More »
Daily Comment (October 3, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are very quiet this morning. Because it’s quiet, let’s take a look at Europe: Catalonia, Spain and the EU: Every nation is a construct. It is built on a social contract that offers various public goods in exchange for membership. First and foremost, states… Read More »
Daily Comment (October 2, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It was a violent weekend. Here is what we are watching: The mess in Catalonia: Catalonia did hold an independence referendum over the weekend in the midst of a strong central government crackdown. Latest media reports suggest over 760 people were injured in clashes with central… Read More »
Daily Comment (September 29, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy end of quarter day! Q3 comes to a close today and next week we begin the march to Q4. Markets are quiet at quarter end. Here is what we are watching: Social media and Russian bears: For the past several weeks, Facebook (FB, 168.73) has… Read More »
Daily Comment (September 28, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are mostly quiet today. There is a modest reversal of recent trends as the dollar eases a bit, but long-duration bonds are continuing to weaken. Here is what we are watching today: Tax talk: The GOP leadership sketched out the tax plan. Tax reductions… Read More »
Daily Comment (September 27, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] The primary features of this morning’s trade are rising interest rates and a stronger dollar. Chair Yellen is becoming increasingly hawkish; so far, equity markets are holding their own. Here are some of the news items we are tracking: BREAKING: German FM Wolfgang Schäuble has indicated… Read More »
Daily Comment (September 26, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are generally quiet this morning. Here are the news items we are watching: The German elections reverberate: Although Merkel remains chancellor, the German political landscape is shifting radically. If the ruling coalition is made up of the CDU/CSU, FDP and the Greens, it will… Read More »
Daily Comment (September 25, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It was a busy weekend. Here are the stories we are following: Merkel slips: Merkel’s CDU/CSU won the election as expected, but underperformed expectations. Her party took 32.9% of the votes compared to the last poll predicting a result of 34%. However, most polls going into… Read More »