Daily Comment
Daily Comment (November 2, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] The overnight news was relatively light, but here are the events we’re keeping an eye on today: Changes at the Fed: Yesterday, the FOMC decided to maintain interest rates at their current levels but hinted at a possible rate increase in December. The Federal Reserve cited… Read More »
Daily Comment (November 1, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equity markets have been fairly strong following relatively strong earnings and expectations surrounding the FOMC meeting today. The overnight news was relatively light, but below are a few topics that we are keeping an eye on today: Return of the ban? Yesterday, a driver in a… Read More »
Daily Comment (October 31, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Halloween! Financial and commodity markets are quiet this morning, awaiting the president’s pick for Fed chair (Powell is the consensus selection), the president’s trip to Asia and Friday’s employment report. Here is what we are watching this morning: The indictments: Although the indictments dominated the… Read More »
Daily Comment (October 30, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It was a heavy weekend of news. Let’s dig in: Manafort, Gates indicted: Paul Manafort and his former business associate, Rick Gates, were indicted this morning and told to surrender to the FBI. Latest reports indicate that Manafort and his former partner will face charges related… Read More »
Daily Comment (October 27, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] As we detail below, Q3 GDP came in stronger than forecast. And, yesterday’s spate of tech company earnings were quite solid. Equities and the dollar continue to rally and interest rates are grinding higher. Here is what we are watching: A budget passes the House: As… Read More »
Daily Comment (October 26, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s a news-heavy morning. Here is what we are tracking: Yellen out? Politico is reporting that the president has narrowed the field for Fed chair, eliminating Gary Cohn yesterday and also Yellen. Although the source from Politico, Ben White, is generally reliable, in the same report,… Read More »
Daily Comment (October 25, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are a bit weaker this morning—equities are signaling a softer opening while Treasuries are continuing to take on water. There is a lot going on; this morning we are focused on the following issues. Xi sets Standing Committee: The new Standing Committee of the… Read More »
Daily Comment (October 24, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Here is a recap of what we are watching this morning: Xi elevated: Although the news is rather obscure to Western eyes, “Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era” was added to the Chinese constitution today. Such thoughts, such as Jiang Zemin’s… Read More »
Daily Comment (October 23, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] There was (and is) lots of news. Let’s dig in: Abe in a landslide: PM Abe’s gamble to call early elections looks like a winner. The LDP and the rest of Abe’s ruling coalition will take 313 seats, giving him a “supermajority” of more than 310… Read More »