Daily Comment
Daily Comment (January 31, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] There was a lot of political news overnight but it didn’t have much impact on financial markets. However, this morning, Peter Navarro, the director of the newly formed National Trade Council, told the FT that Germany is using a “grossly undervalued” exchange rate to… Read More »
Daily Comment (January 30, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] One of the key themes we have been monitoring since Trump’s election has been the uneasy alliance between the populists and the GOP establishment. We personalized this interaction as Speaker Ryan versus Chief Strategist Bannon. The policies that would be supported from the Ryan… Read More »
Daily Comment (January 27, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] It was a quiet night overall; the big news is Q4 GDP, which we will cover below. Here are a few items we are watching: The Italian Constitutional Court finally clarified the 2015 election reform law, known as the “Italicum.” It ruled against a… Read More »
Daily Comment (January 26, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] Global equities are holding this week’s gains on renewed optimism that tax changes and infrastructure spending will lift the economy and earnings. We note that the GOP House leadership is pressing the idea that tax changes should be mostly revenue-neutral and there is a… Read More »
Daily Comment (January 25, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] After a sluggish start to the year, equity markets have resumed their northward march. There isn’t a whole lot of news to trigger this rise, although the reversal of the Obama policy on pipelines may have lifted hopes that deregulation is really on the… Read More »
Daily Comment (January 24, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] The big news overnight came from the U.K. where the Supreme Court ruled that Parliament must move on Brexit before an Article 50 declaration can be made. Although this decision is being portrayed as a setback for PM May, it isn’t exactly a huge… Read More »
Daily Comment (January 23, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] It was a rather tumultuous weekend with the incoming administration sparring with the media over a number of issues. Those factors are being hashed out in the media so we won’t focus on them. However, what we are paying attention to is the impact… Read More »
Daily Comment (January 20, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] Happy Inauguration Day! As President Obama exits the White House and President Trump takes control, the new administration will begin to settle in. One of the characteristics of any new president and his team is that nearly all the members of the incoming administration… Read More »
Daily Comment (January 19, 2017)
by Bill O’Grady, Kaisa Stucke, and Thomas Wash [Posted: 9:30 AM EST] The ECB decided to keep its interest rates low as well as maintain its quantitative easing program. During a press conference, Mario Draghi expressed his willingness to extend the current monetary policy as growth within the European Union is still relatively slow. He also… Read More »