Daily Comment
Daily Comment (October 7, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] Global equity markets are mixed this morning. The EuroStoxx 50 is trading lower by 0.5% from the last close. In Asia, the MSCI Asia Apex 50 closed lower by 0.3% from the prior close. Chinese markets are closed for the Golden Week holiday. U.S. equity futures… Read More »
Daily Comment (October 6, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] The IMF meetings are being held in Washington this weekend. We would not expect anything too earthshattering out of these discussions. However, the organization has calculated an interesting bit of data—the IMF estimates that the world has $152 trillion of debt, about twice the size of… Read More »
Daily Comment (October 5, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] It was a rather quiet night. The VP debate came and went; polls suggest that Pence was better received but we doubt the interaction will change the election chances of either presidential candidate. There are some interesting trends starting to develop that are worth mentioning: Long-term… Read More »
Daily Comment (October 4, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] BREAKING NEWS: The IMF has updated its economic forecasts. Although world GDP growth remains steady, it has lowered Eurozone and U.S. GDP. Overall, economic growth remains sluggish. For the second straight day, the British pound (GBP) is taking a “pounding.” The proximate cause is PM May’s… Read More »
Daily Comment (October 3, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] Politics mostly dominated the weekend news flow, although Deutsche Bank (DB, $13.09, +1.61) was in the news, too. German markets are closed for a holiday (it’s Unification Day, the holiday that commemorates the official day when East and West Germany were reunited), so we haven’t seen… Read More »
Daily Comment (September 30, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] The market’s focus continues to center on the banking system, with Deutsche Bank (DB, $11.48, -0.82) being the most market relevant, although the travails of bankers testifying before Congress hasn’t helped the sector. Deutsche Bank is the bigger issue because it raises fears of systemic problems. … Read More »
Daily Comment (September 29, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] Oil prices jumped yesterday on an announcement that OPEC had arrived at a deal to cut production. This was mostly unexpected (we didn’t expect it). According to early reports, the cartel agreed to cut output by 0.7 mbpd, which included a 0.4 mbpd cut by Saudi… Read More »
Daily Comment (September 28, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] Overall, there wasn’t much news overnight. We haven’t had much to say about Deutsche Bank (DB, $11.92, +0.07), although there have been legitimate fears that Germany’s largest bank could need a bailout despite protests to the contrary. Shares did lift this morning on news that the… Read More »
Daily Comment (September 27, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] The first presidential debate was held last night and Sen. Clinton won by nearly all accounts. She was, as expected, well prepared. Potentially dangerous areas for her, such as the ongoing e-mail scandal and the Clinton Foundation, were not heavily covered. Much time was spent on… Read More »