Daily Comment
Daily Comment (September 11, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Sixteen years ago, the U.S. suffered its worst terrorist attack in its history. The nation was changed in numerous ways, both large and small. Every time we fly commercial we are reminded that our safety was compromised. The country is still trying to unwind two wars… Read More »
Daily Comment (September 8, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Market action is sluggish this morning; the big story is the continued weakness in the dollar. Here is what we are watching today: The dollar in perspective: The EUR is threatening $1.210 and the greenback continues to slide despite dovish comments from ECB President Draghi yesterday. … Read More »
Daily Comment (September 7, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy productivity day! Lots of news this morning; here is what we are watching: The ECB: The ECB’s statement was a repeat of the one from a few weeks ago. In the press conference, the reporters focused most of their questions on the exchange rate. President… Read More »
Daily Comment (September 6, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are easing off the flight from risk exhibited yesterday. There wasn’t a lot of breaking news overnight, but there are currently several significant news items. Here’s a recap: Hurricane Irma: There are three tropical events in the Atlantic but Irma is the current focus… Read More »
Daily Comment (September 5, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Goodbye summer! We are now moving into autumn. Here is what we are watching today: North Korea: The Hermit Kingdom was active over the holiday weekend. It detonated another nuclear device, claims to have miniaturized it for a warhead and is reportedly preparing for another missile… Read More »
Daily Comment (September 1, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Employment Day! We recap the numbers below. Here is what we are watching today: Q3 GDP looking strong: Q2 GDP was revised to 3.0%, and the Atlanta FRB is projecting a 3.3% growth rate for Q3. We present the relevant charts below. The estimated growth… Read More »
Daily Comment (August 31, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s the last day of August. Here is what we are watching today: Russian bank problem: Otkritie is a bank in Russia that has become insolvent. The bank has close ties to the government and has apparently enjoyed rapid growth by absorbing the assets of smaller… Read More »
Daily Comment (August 30, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy GDP day! We cover the GDP data below, but the report showed 3.0% annualized growth. Interest rates have ticked higher and the dollar is recovering from yesterday’s weakness. Here is what we are following this morning: Harvey hits Louisiana: After slamming Texas with massive rains,… Read More »
Daily Comment (August 29, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are in “risk on” mode this morning after the North Korean missile test. Treasuries and gold are higher, while equities and the dollar are weaker. In fact, the EUR broke above the 1.200 level for the first time in two years. Here is what… Read More »