Daily Comment
Daily Comment (June 1, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] There were a couple of political items of note. First, the White House announced the president will hold a Rose Garden gathering to announce his decision on the Paris Climate Accord. Reports suggest he will take the U.S. out of the agreement, although there… Read More »
Daily Comment (May 31, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] News flow was quiet overnight. The biggest item came from the U.K. where a YouGov model projected a hung Parliament. It showed the Tories losing 20 seats to fall to 310, while Labour would pick up 28 seats, capturing 257. The required majority is… Read More »
Daily Comment (May 30, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Welcome back from the long weekend! Here are the stories that caught our attention: A break in Europe: Chancellor Merkel made headlines by indicating that, in the wake of the G-7 meeting, continental Europe must prepare to “go it alone” without the security support… Read More »
Daily Comment (May 26, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] The GDP data (see below) came in much better than forecast and that is giving a bounce to equities this morning. It’s a long Memorial Day weekend, which usually means the afternoon trade will become very thin and sluggish. The big news overnight was… Read More »
Daily Comment (May 25, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] The FOMC minutes held no surprises—barring a sudden downturn in the data, the next rate hike will come on June 14. Dallas FRB President Kaplan gave a speech in Toronto yesterday and indicated that he expects two more rate hikes this year; thus, if… Read More »
Daily Comment (May 24, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] Financial and commodity markets are very quiet this morning. U.S. equity futures markets are mostly steady, the dollar is becalmed and there is a modest bid for Treasuries. There was some important news overnight. Here are the high points: Moody’s downgrades China: The U.S.… Read More »
Daily Comment (May 23, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] A deadly terrorist attack occurred in Manchester, U.K. last night as an apparent suicide bomber exploded a bomb outside a concert venue as a concert was ending. At present, 22 have died and over 50 were wounded. IS has taken responsibility for the attack. … Read More »
Daily Comment (May 22, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] The news over the weekend was fairly quiet, although there were several things we noted: The first leg of the president’s trip went rather well: President Trump offered support to authoritarians in Egypt and the Gulf State which was well received. Iran was isolated as… Read More »
Daily Comment (May 19, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EDT] After a week of tumult, things appear rather quiet this morning. Equities have a bullish tone after a drop midweek. Oil prices are up as OPEC officials meet to prepare for next week’s policy setting meeting. There are hopes that the broader cartel can… Read More »