Research & News
Daily Comment (March 21, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with an update on the Russia-Ukraine war, where the Battle of Mariupol is intensifying. We next review a range of international and U.S. developments with the potential to affect the financial markets today. We wrap up with the… Read More »
Asset Allocation Bi-Weekly – A Commodity Update (March 21, 2022)
by the Asset Allocation Committee | PDF Since the beginning of the year, commodities, as measured by the Bloomberg Commodity Index, have been up 15.4%. All other major asset classes are down for the year. Among the S&P 500 sectors, only energy is positive. Commodity prices were strong going into the war in Ukraine, but… Read More »
Daily Comment (March 18, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s report begins with the latest updates on the Russian invasion of Ukraine. We then give a brief roundup of international news items and conclude with COVID-19 coverage. The conflict in Ukraine shows no signs of abating. On Thursday, Reuters… Read More »
Daily Comment (March 17, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! The report today begins with Zelensky’s speeches to Congress and the Bundestag. We then give a brief overview of Wednesday’s Fed meeting and the impact it may have on financial markets. Next, we focus on energy and China-related news and… Read More »
Weekly Energy Update (March 17, 2022)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices have fallen to near pre-invasion levels. The initial rally was driven by short covering, and price volatility has reduced market participation. (Source: Barchart.com) Crude oil inventories unexpectedly rose 4.3 mb compared to a 1.6 mb draw forecast. The SPR declined 2.0 mb,… Read More »
Daily Comment (March 16, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF We begin today’s Comment with an update on the Russia-Ukraine War. There are hints of compromise on each side, even as the Ukrainians are apparently launching a major counterattack. That alone would probably be enough to give a boost to global stock… Read More »
Daily Comment (March 15, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment opens with an update on the Russia-Ukraine War, where there has been little discernible change in the military situation on the ground or in diplomatic efforts to end the conflict. We next review some international and U.S. developments with the… Read More »
Bi-Weekly Geopolitical Report – The Ukraine War and the Path of Globalization (March 14, 2022)
by Bill O’Grady | PDF There are decades where nothing happens; and there are weeks where decades happen. ̶ Vladimir Lenin Over the coming weeks, we will be analyzing the impact of the war in Ukraine. Clearly, the situation is highly fluid[1] and projections on how the future will be affected by the war must… Read More »