Research & News
Asset Allocation Weekly (March 5, 2021)
by Asset Allocation Committee | PDF In our 2021 Outlook, we had a forecast for the S&P 500 of 3918/4050. Since the index is close to that level, we have received questions about whether we are expecting little upside from here or if we intend to calibrate our expectations. This week’s Asset Allocation Weekly is… Read More »
Weekly Energy Update (March 4, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. Prices are consolidating in the high $50s to the mid-$60s. Crude oil inventories jumped 21.6 mb when a draw of 4.0 mb was forecast. There was no change in the SPR. The build in stockpiles was… Read More »
Weekly Geopolitical Report – The Western Sahara: Part I (March 1, 2021)
by Thomas Wash | PDF To facilitate a restoration of diplomatic relations between Morocco and Israel, the Trump administration acknowledged Morocco’s sovereignty over the Western Sahara territory on December 10, reversing the three-decade U.S. policy of supporting self-determination for the Sahrawi People who make up most of the region’s population. The reconciliation between Morocco and… Read More »
Asset Allocation Weekly (February 26, 2021)
by Asset Allocation Committee | PDF The steady rise in the 10-year T-note has started to raise concerns about the impact of higher yields. This week’s report will examine what impact the steady rise in yields may have on the economy and markets. Essentially, the issue at hand is if, how, or when the FOMC… Read More »
Weekly Energy Update (February 25, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. Prices continue to rise. Crude oil inventories rose 1.3 mb when a draw of 6.5 mb was forecast. There was no change in the SPR. Analysts (us included) expected production outages in Texas to lead to… Read More »
Weekly Geopolitical Report – The U.S.-China Balance of Power: Part V (February 22, 2021)
by Patrick Fearon-Hernandez, CFA | PDF As the U.S.-China rivalry intensifies in the 21st century, two questions arise. Which is stronger, the United States or China? Which country is better positioned to protect its interests and achieve its goals? To gauge the likely trajectory of their relationship in the coming years and assess the investment… Read More »