Daily Comment
Daily Comment (September 28, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are mostly quiet today. There is a modest reversal of recent trends as the dollar eases a bit, but long-duration bonds are continuing to weaken. Here is what we are watching today: Tax talk: The GOP leadership sketched out the tax plan. Tax reductions… Read More »
Daily Comment (September 27, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] The primary features of this morning’s trade are rising interest rates and a stronger dollar. Chair Yellen is becoming increasingly hawkish; so far, equity markets are holding their own. Here are some of the news items we are tracking: BREAKING: German FM Wolfgang Schäuble has indicated… Read More »
Daily Comment (September 26, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are generally quiet this morning. Here are the news items we are watching: The German elections reverberate: Although Merkel remains chancellor, the German political landscape is shifting radically. If the ruling coalition is made up of the CDU/CSU, FDP and the Greens, it will… Read More »
Daily Comment (September 25, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It was a busy weekend. Here are the stories we are following: Merkel slips: Merkel’s CDU/CSU won the election as expected, but underperformed expectations. Her party took 32.9% of the votes compared to the last poll predicting a result of 34%. However, most polls going into… Read More »
Daily Comment (September 22, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] There is much to discuss this morning. Let’s get to it: North Korea returns: After President Trump’s speech to the UN we have been waiting for a response from the Kim regime. Overnight, we got our answer. The Young Marshal offered a rambling response to Trump… Read More »
Daily Comment (September 21, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Financial markets are consolidating after yesterday’s Fed meeting, which we will discuss below. The key takeaway is the dollar’s rally. In the Asset Allocation Weekly published on Friday (see gray section below), we analyzed the case for a weaker dollar; it rests on the fact that… Read More »
Daily Comment (September 20, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Markets are very quiet in front of the FOMC meeting. We get the results later today at 2:00 EDT, with a press conference about 30 minutes later. Here is what we are watching: The UN speech: On the surface, the president’s speech at the UN was… Read More »
Daily Comment (September 19, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Markets are very quiet in front of the FOMC meeting, which begins later this morning. President Trump offers formal remarks to the UN this morning, too. Here is what we are watching: The Fed: As we noted yesterday, we look for the Fed to begin balance… Read More »
Daily Comment (September 18, 2017)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s Fed week! The FOMC meets this week, beginning tomorrow and ending on Wednesday. This meeting will bring new forecasts, dot plots and a press conference. Here is what we are watching today: The President to the UN: President Trump will address the UN today. Although… Read More »