Daily Comment
Daily Comment (June 14, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] There is breaking news at the time of this writing. A gunman shot at Congressional members and staffers at a baseball practice in suburban Virginia. The Congressional baseball game is one of the few bipartisan social events in Washington. Although the situation is evolving,… Read More »
Daily Comment (June 13, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] After a two-day correction in tech stocks, equities are stabilizing this morning. Although the drop in the popular sector seemed to come out of nowhere, it looks to us like a fairly normal market correction, merely some profit taking. In a world of ultra-low… Read More »
Daily Comment (June 12, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] The global political situation remains fluid. In France, President Macron won an apparent smashing victory in the first round of parliamentary elections, winning nearly 32% of the vote and faring much better than the conservative parties, which captured around 20%. The National Front picked… Read More »
Daily Comment (June 9, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] In Britain, Theresa May’s decision to call a snap election in order to win a larger mandate backfired last night. The Tories, who were supposed to win more seats, lost their majority and barely squeaked out a plurality. Final results show that the Tories… Read More »
Daily Comment (June 8, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Welcome to Super Thursday! Today, there is a slew of geopolitical events that may have an impact on global markets. In Europe, the ECB will hold a press conference about current and future policy decisions. In the U.S., former FBI Director James Comey testifies… Read More »
Daily Comment (June 7, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] In Iran, a gunman and suicide bomber attacked the Iranian parliament and the Ayatollah Rullah Khomeini shrine. The Sunni-led group ISIS has claimed responsibility for both attacks, its first significant attack in Iran, which is majority Shiite. According to the Iranian news media, previous… Read More »
Daily Comment (June 6, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Although there has been some market uncertainty due to political risks in the U.S. and U.K., the overnight news was relatively quiet. Market jitters seem to be due to concerns that tax and healthcare reforms have stalled, doubts as to whether Theresa May will… Read More »
Daily Comment (June 5, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Although financial markets are quiet, there is a lot happening in the news. Here is what we saw as important: President Trump ready with two Fed governor nominations: The president, according to numerous media reports, is prepared to fill two of the current three… Read More »
Daily Comment (June 2, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] The employment data, discussed at length below, was disappointing, with payrolls coming in weak. The bullish headline was that the unemployment rate fell to a new cycle low; in fact, a 16-year low. Sadly, that occurred because the labor force fell by a whopping… Read More »