Research & News
Daily Comment (September 30, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning as we bid farewell to Q3. Although there is plenty to worry about, equities continue to move up on that wall of worry. Our coverage begins with a recap of legislation and other concerns in Washington; today could… Read More »
Weekly Energy Update (September 30, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices have rallied to above $75 per barrel. (Source: Barchart.com) Crude oil inventories unexpectedly rose 4.6 mb compared to the 2.5 mb draw forecast. The SPR declined 0.9 mb, meaning the net draw was 3.8 mb. In the details, U.S. crude oil production rose… Read More »
Daily Comment (September 29, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF We open today’s Comment with the latest brinksmanship in Congress over the federal government’s debt limit and budget, along with a note on Federal Reserve Chair Powell’s prospects of being reappointed to a second term later this year. We next… Read More »
Daily Comment (September 28, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF In today’s Comment, we open with a range of recent developments regarding U.S. fiscal and monetary policy. Next, we review international news that could have an impact on the financial markets today or in the near future. We wrap things… Read More »
Weekly Geopolitical Report – Afghanistan, Part III: Russia and Central Asia (September 27, 2021)
by Patrick Fearon-Hernandez, CFA | PDF In Part I of this report, we reviewed the history of Afghanistan and why great powers have fought over it for centuries. In Part II, last week, we examined how the United States exit from Afghanistan will affect Pakistan, India, and Iran. This week, our focus is on how… Read More »
Daily Comment (September 27, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning and happy Monday, the last one for September 2021 (time flies!). U.S. equity futures are mostly flat this morning, while crude oil is near a three-year high. Our coverage leads off with the German elections, which were something… Read More »
Daily Comment (September 24, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning, all! U.S. equity futures are signaling a lower open this morning. Today’s report begins with an Evergrande (EGRNF, USD, 0.3550) update and international news roundup. Next, we cover U.S. economics and policy developments. China news follows, and we… Read More »
Asset Allocation Weekly – The Supply Side Worry on Inflation (September 24, 2021)
by the Asset Allocation Committee | PDF In the 1970s, the U.S. had a serious inflation problem. By the end of the decade, it had become the most critical economic policy issue. Although inflation can be a complicated topic, one way of simplifying it is to see it through the intersection of aggregate supply and… Read More »
Daily Comment (September 23, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning! U.S. equity futures are higher this morning as the market digests the continuing Evergrande (EGRNF, USD, 0.40) issue and the Fed meeting. Our coverage begins with the FOMC meeting. Evergrande is up next, followed by China news. We… Read More »