Daily Comment
Daily Comment (October 18, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Tax reform: Senate Republicans are moving closer to tax reform as 50 senators have agreed to begin debate on a budget resolution. In order for tax reform to happen, the Senate must first pass a budget appropriations bill. Currently, there appear to be a few… Read More »
Daily Comment (October 17, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] U.S. financial markets are quiet, but there is a lot going on again today. Here’s what we are watching this morning: Taylor to the Chair? John Taylor, the creator of the “Taylor Rule,” visited President Trump yesterday and, according to news reports, the president was very… Read More »
Daily Comment (October 16, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Although U.S. financial markets are quiet, there is a lot going on. Here’s what we are watching this morning: War in Iraq? Iraqi troops have taken a refinery and captured oil fields surrounding the city of Kirkuk. So far, only Iraqi regular army troops have been… Read More »
Daily Comment (October 13, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Markets are quiet again this morning; we are seeing the dollar weaken a bit and bonds rally on the weaker than forecast CPI data. On the other hand, retail sales were strong, although some of that is coming from hurricane distortion. Here is what we are… Read More »
Daily Comment (October 12, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Fed minutes: The Fed minutes didn’t have a lot of surprises; we would characterize them as modestly dovish. Going off the terms used, “several” members were uncertain about inflation and wanted more data to improve their confidence, while “a few” believed that additional increases should… Read More »
Daily Comment (October 11, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Although overall market activity is quiet this morning, there is a good bit of news. Here is what we are watching this morning: Catalonia blinks—Rajoy presses: Yesterday, Catalan leader Carles Puigdemont declared and suspended independence, asking for talks with Madrid. PM Rajoy is having none of… Read More »
Daily Comment (October 10, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Although it was mostly quiet overnight, we are awaiting a potential declaration of independence from Catalonia. Here is what we are tracking this morning: A declaration of independence? Catalan Leader Carles Puigdemont is expected to address the regional parliament in Barcelona at 11:00 EDT amid growing… Read More »
Daily Comment (October 9, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s a slow news morning. Columbus Day is being celebrated, which means the Federal Government and Treasury market are closed. Equities are open. Here is what we are tracking this morning. A Turkish spat: Turkish financial markets have been roiled this morning after both the U.S.… Read More »
Daily Comment (October 6, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy employment data day! We cover the release in detail below but the quick view is the report is mixed; payrolls actually declined but the unemployment rate did, too. The data was affected by weather events. The dollar rose on the news and Treasury yields rose… Read More »