Research & News
Weekly Geopolitical Report – The Disputed Territory of Nagorno-Karabakh: Part I (November 23, 2020)
by Thomas Wash | PDF (Due to the Thanksgiving holiday, our next report will be published on December 7, 2020.) On November 9, Armenia agreed to give up some of its territory to Azerbaijan in a deal brokered by Russia. After six weeks of fighting and three failed ceasefires, Azerbaijan and Armenia have ended their… Read More »
Asset Allocation Weekly (November 20, 2020)
by Asset Allocation Committee | PDF In the aftermath of the election and favorable news on vaccine progress, we have seen a notable backup in interest rates. The 10-year T-note yield is flirting with 1%. In this report, we will examine the future path of long-duration interest rates. We start with our 10-year T-note yield… Read More »
Weekly Energy Update (November 19, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF (N.B. Due to the Thanksgiving Day holiday, the next report will be published on December 3.) Here is an updated crude oil price chart. Positive news on a vaccine for COVID-19 led to a strong rally this week, taking prices to the upper end… Read More »
Weekly Geopolitical Report – An Ant Problem (November 16, 2020)
by Bill O’Grady | PDF Although the U.S. elections were the major story during the first week of November, another notable, but somewhat overshadowed, event did occur, namely, when Chinese regulators forced Ant Group to suspend its initial public offering. Ant Group, an affiliated firm of Alibaba Group (BABA, USD 294.04), was preparing to launch… Read More »
Asset Allocation Weekly (November 13, 2020)
by Asset Allocation Committee | PDF In our most recent Asset Allocation quarterly rebalance, we addressed the potential for election-related market disruption. In the end, we made only modest defensive adjustments to the portfolios and instead focused our allocations on continued policy support and economic recovery. In this week’s report, we will look at the… Read More »
Weekly Energy Update (November 13, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. Positive news on a vaccine for COVID-19 led to a strong rally this week, taking prices to the upper end of the current trading range. Commercial crude oil inventories rose 4.3 mb when a 2.0 mb… Read More »
Weekly Geopolitical Report – Revolution in Kyrgyzstan (November 9, 2020)
by Thomas Wash | PDF Around 20,000 protesters took to the streets in the Kyrgyzstan capital of Bishkek following parliamentary elections on October 4. Social media posts and news reports of alleged vote-buying and registration fraud sparked outrage when 107 out of 120 parliamentary seats went to parties loyal to President Sooronbay Jeenbekov, a surprising… Read More »