Daily Comment
Daily Comment (August 2, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It was a quiet overnight trade. The Reserve Bank of India did cut rates as expected. Here are the trending news items we are watching: Trade war with China: Several media outlets are reporting that the administration is opening a broad investigation into China’s trade practices… Read More »
Daily Comment (August 1, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Global equity markets are higher this morning on the second day of Gen. Kelly’s tour as Chief of Staff (CoS). Here are the news items we are watching: The “Mooch” is out: Anthony Scaramucci left his role as communications director. It isn’t completely clear if he… Read More »
Daily Comment (July 31, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy St. Ignatius of Loyola Day! The weekend was news heavy—here’s what we are watching this morning. A new Chief of Staff: Reince Priebus was removed from the Chief of Staff position at the White House late Friday. Although it does appear he resigned the day… Read More »
Daily Comment (July 28, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Unlike the past few days, there was a lot of news overnight. Here’s what happened: The Senate fails to “repeal and replace”: In the wee small hours of the morning,[1] three GOP senators joined the full contingent of Democrats to kill any chance of ending the… Read More »
Daily Comment (July 27, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] We are seeing stronger equities, weaker bond prices and a stable dollar this morning. Here’s the news we are following: The FOMC: The Fed statement didn’t offer too many surprises. It did admit that inflation is running below target but didn’t elaborate about the future path… Read More »
Daily Comment (July 26, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Good Wednesday morning! It’s Fed day. Other than that, we continue to see the major U.S. equity indices quietly make new highs. Good earnings and nothing earthshattering coming from Washington are playing a role in lifting equity values. Here are the news items of interest today.… Read More »
Daily Comment (July 25, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s another quiet summer trading day. Here are the items making news: The FOMC meeting begins later today: The Fed has created a problem for itself. The U.S. central bank meets every six weeks (or eight times per year), but because it makes four meetings out… Read More »
Daily Comment (July 24, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s another quiet, summertime session. Here are the items we are watching this morning: OPEC meeting: The OPEC meeting is wrapping up with no new production cuts. However, Saudi Arabia has promised to reduce its oil exports which is modestly positive. As we noted last week,… Read More »
Daily Comment (July 21, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Friday! Here are the items we are following this morning: Pardon me: Numerous media reports indicate that the Trump administration is exploring pardoning options and ways to ring fence Special Counsel Mueller’s investigation. There are overtones of Nixon in these comments. First, seeking pardons when… Read More »