Research & News
Weekly Energy Update (November 18, 2021)
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 2.) Oil prices have been struggling this week, testing support $79.50. (Source: Barchart.com) Crude oil inventories unexpectedly fell 2.1 mb compared to a 1.2 mb build forecast. The SPR… Read More »
Daily Comment (November 17, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF Today’s Comment begins with a range of U.S.-related developments, including news that Monday’s summit between Presidents Biden and Xi opened the possibility of negotiations for a nuclear arms control deal with the U.S. and China. We next turn to several… Read More »
Daily Comment (November 16, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF In today’s Comment, we open with a few important international developments, including last night’s U.S.-China virtual summit and a potential worsening of Europe’s energy crisis. We also cover several other U.S. and foreign economic and political developments. We wrap things… Read More »
Weekly Geopolitical Report – The Special Relationship (November 15, 2021)
by Thomas Wash | PDF Ever since the United Kingdom defeated the Spanish Armada in the 16th century, it has typically kept Europe at arm’s length. The victory not only showed that the British could successfully defend itself from invasion, but that it was an important power in Europe. This newfound confidence along with the… Read More »
Daily Comment (November 15, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF Good morning and happy Monday! U.S. equity futures are pointing to a higher open, while oil prices continue to decline. President Biden will hold a signing ceremony for the infrastructure package today. Our coverage begins with an overview of today’s… Read More »
Daily Comment (November 12, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF Good morning! U.S. equity futures are signaling a higher open this morning. Today’s report begins with U.S. economic and policy news, followed by our roundup of China-related stories. International news is next, and we conclude with our pandemic coverage. Economics… Read More »
Asset Allocation Weekly – The Citigroup Economic Surprise Index and Bond Yields (November 12, 2021)
by the Asset Allocation Committee | PDF As market strategists, we’re always on the lookout for reliable indicators of future financial market performance wherever we can find them. Some indicators are strongly correlated by themselves, with performance yardsticks like stock prices, dividend yields, or bond yields. Other indicators are indexes composed of multiple data points,… Read More »
Daily Comment (November 11, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF Good morning; it’s Veterans Day. A sincere thanks to all who served. It’s also Single’s Day, but the Chinese celebration is lower key this year under conditions of shared prosperity. Risk markets are higher this morning, with gold continuing to… Read More »
Weekly Energy Update (November 11, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After pulling back from $85 per barrel, the market made another assault on the price level, but that level is proving to give strong resistance. (Source: Barchart.com) Crude oil inventories rose 1.0 mb compared to a 2.6 mb build forecast. The SPR declined 3.1… Read More »