Daily Comment
Daily Comment (April 4, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] It’s another quiet and mostly sluggish day in global markets. The French are holding a presidential debate today at 8:40 pm local time (2:40 EDT) that will be closely watched. Current polling hasn’t changed; Le Pen and Macron will likely win the first round… Read More »
Daily Comment (April 3, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] BREAKING: There was a bombing on a St. Petersburg subway that has killed at least 10 and injured 50. This is still a developing story. Thus far, no group has claimed responsibility. With the recent widespread protests (according to reports, nearly 100 cities have… Read More »
Daily Comment (March 31, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Global equity markets had a weak tone overnight but much of that is probably related to quarter-end adjusting. We did see good Chinese data (see below) and sentiment surveys remain robust. For example, the National Association of Manufacturers’ outlook survey hit a new all-time… Read More »
Daily Comment (March 30, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Markets are very quiet this morning. We are seeing the dollar lift in part due to hawkish comments from Fed officials yesterday. For example, Boston FRB President Rosengren called for three more hikes this year; we rate Rosengren as a moderate so his hawkish… Read More »
Daily Comment (March 29, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] The big news today is no surprise but is still important—PM May formally declared Article 50, beginning the process of the U.K.’s exit from the EU. The law gives both parties two years to work out the exit details. Article 50 has never been… Read More »
Daily Comment (March 28, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] As we mentioned yesterday, we want to expand our thoughts on equities. Although growing disappointment is a worry regarding the president’s ability to execute his agenda, we do note that cash levels remain elevated. This chart shows the level of retail money market funds… Read More »
Daily Comment (March 27, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Global equity markets are in retreat this morning as bond yields fall and the dollar declines. What we are seeing is the reversal of the “Trump trade” that came out of the election. The Trump trade was to buy equities (especially financials), sell bonds… Read More »
Daily Comment (March 24, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] The focus of attention remains on the AHCA, which is due for a vote this afternoon. The president has already pivoted on this issue; he has warned that if the vote fails, the GOP is stuck with the ACA for good and he is… Read More »
Daily Comment (March 23, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Yesterday, there was a terrorist attack near Parliament in the U.K. Five people were killed (including the terrorist) and around 40 injured. Although reports suggest the attacker, who hasn’t been named yet, acted alone, eight others have been arrested. This attack followed the pattern… Read More »