Research & News
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 »
Asset Allocation Weekly (February 19, 2021)
by Asset Allocation Committee | PDF A poor jobs report for January cast doubt about the strength of the recovery. There was only a 49K rise in non-farm payrolls, well below expectations of 105K. Making matters worse, the previous month’s jobs report was revised downward from a loss of 140K to a loss of 225K.… Read More »
Weekly Energy Update (February 19, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF This week’s report is being published on Friday as the DOE data was delayed due to the Presidents’ Day holiday. Here is an updated crude oil price chart. Prices continue to rise. Crude oil inventories fell 7.4 mb when a draw of 2.0 mb… Read More »
Asset Allocation Weekly (February 12, 2021)
by Asset Allocation Committee | PDF Jan Tinbergen was a Dutch economist, the first to win the Nobel Prize for economics[1] for his work on applied dynamic models of economic processes. Perhaps his most important contribution to economic policy is the penning of the Tinbergen Rule, which states that policymakers need an equal number of… Read More »