Daily Comment
Daily Comment (May 17, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are quiet this morning. This is what we are watching: More in Italy: Governments are powerful but not omnipotent. When financial markets turn on a country, it can force unwelcome policy changes. The populists in Italy are finding this out the hard way. As… Read More »
Daily Comment (May 16, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s mid-week! Here is what we are watching this morning: A DPRK snag? Yesterday afternoon, the Kim regime turned hostile, calling off talks with South Korea and threatening to cancel the summit meeting with President Trump. There is a lot of uncertainty around this sudden change… Read More »
Daily Comment (May 15, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Risk markets are under some pressure this morning. Here is what we are watching this morning: Clarida to the Hill: Richard Clarida, Columbia University economist and Global Strategic Advisor for PIMCO, testifies before the Senate Banking Committee on his way to a confirmation vote. Michelle Bowman,… Read More »
Daily Comment (May 14, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Monday! Here is what we are watching this morning: ZTE relief? In a surprise announcement, President Trump tweeted that he is seeking some sort of relief for the embattled company. ZTE (ZTCOF, 2.26, delayed) is under a rather harsh penalty from the Commerce Department for… Read More »
Daily Comment (May 10, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] BOE meeting: The BOE results were neutral to hawkish. Rates were left unchanged, as expected, but the vote was 7-2 with the dissenters voting for a hike. The press conference and the statement were rather dovish, belying the vote. Markets took the results as moderately… Read More »
Daily Comment (May 9, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] There is a lot going on this morning. Let’s dig in: Iran: As expected, President Trump withdrew the U.S. from the multilateral nuclear agreement with Iran. Opinions on the move and projections of the decision’s impact vary widely. We will have more to say on this… Read More »
Daily Comment (May 8, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s a quiet morning in a very busy week. Here is what we are monitoring this morning: The Iran deal: The president will announce his Iran decision at 2:00 (EDT). Although we expect him to end U.S. participation in the pact, it is unclear what he… Read More »
Daily Comment (May 7, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Good morning! Today was a relatively slow news morning but here are a few stories we are following: NAFTA negotiations: Today, trade representatives from Mexico, Canada and the United States will meet in Washington to discuss an agreement in principle for NAFTA. Currently, there appears to… Read More »
Daily Comment (May 4, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Employment Day! We cover the data in detail below but the quick take is that it was weaker than expected. Although the unemployment rate fell to a new cycle low, it appears to be due to people leaving the workforce. The other major issue is… Read More »