Research & News
Daily Comment (September 15, 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 exhibiting a familiar pattern of being stronger overnight and fading into the opening. It is clear that market momentum is waning. We think this action is a correction of sorts, but it will be… Read More »
Daily Comment (September 14, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning and happy CPI day! We cover the data below, but the quick read is that prices rose less than expected, lifting equity futures, which were leaning higher before the report. Tropical Storm Nicholas has hit the Texas coast,… Read More »
Weekly Geopolitical Report – Afghanistan, Part I: History (September 13, 2021)
by Bill O’Grady | PDF The American exit from Afghanistan has created a crisis in the region. For two decades, the U.S. has propped up a government in Kabul. The U.S. withdrawal has led to the rapid collapse of that government and the restoration of the Taliban. The media has been closely tracking the situation… Read More »
Daily Comment (September 13, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning and happy Monday! A lot is going on in the world today as we turn toward autumn. After a soft week, equities are lifting this morning. We begin with comments on what is shaping up to be a… Read More »
Daily Comment (September 10, 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 signaling a higher open this morning. Today’s report begins with a discussion of the call between Presidents Joe Biden and Xi Jinping. International news is up next followed by U.S. economics and policy news,… Read More »
Asset Allocation Weekly – Powell and Fed Independence (September 10, 2021)
by the Asset Allocation Committee | PDF Chair Powell’s term as leader of the FOMC comes to an end in early February 2022. It appears likely, at this time, that he will be reappointed for another four-year term. Decision markets currently put the odds of another term at 85%. Given all the policy actions that… Read More »
Weekly Energy Update (September 10, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices continued to consolidate in the high $60s. (Source: Barchart.com) Crude oil inventories fell 1.5 mb compared to the 6.0 mb draw forecast. Analysts (including us) were clearly expecting Ida to bring a large draw. However, the drop in exports and the slide in… Read More »
Daily Comment (September 9, 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 under pressure again this morning as equity markets grapple with the ongoing pandemic, the uncertainty around the budget process, and the potential for a debt ceiling standoff. The ECB and the Fed kick off… Read More »
Daily Comment (September 8, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Today’s Comment begins with a wide range of developments regarding U.S. monetary, fiscal, and regulatory policy. We then move to global technology company regulation and other key foreign developments that could drive the financial markets today. We conclude with the… Read More »