Research & News
Daily Comment (July 22, 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 were higher, and long-duration interest rates were rising overnight, but comments from the ECB (see below) have pushed equity futures into the red and have lifted bond prices. We are also seeing lots of… Read More »
Weekly Energy Update (July 22, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF The OPEC+ agreement led to a deep selloff in oil prices, but the decline has attracted new buyers. (Source: Barchart.com) Crude oil inventories unexpectedly rose 2.1 mb compared to the 4.5 mb draw forecast. The SPR was unchanged this week. In the details, U.S.… Read More »
Daily Comment (July 21, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF In today’s Comment, we begin with a preview of today’s procedural vote in the Senate on the bipartisan “hard” infrastructure bill. We follow that with a range of U.S. and international news, focusing on the increasing regulatory risks facing the… Read More »
Asset Allocation Quarterly (Third Quarter 2021)
by the Asset Allocation Committee | PDF There is no recession within our forecast period. Monetary and fiscal stimulus should continue in the U.S. over our three-year forecast period, yet at a decreasing rate as the economy recovers. After a surge in inflation this year and into next year, resulting from the economic recovery following… Read More »
Daily Comment (July 20, 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 new threats to regulate cryptocurrency-related assets. Coupled with the surging concerns about the new Delta mutation that pushed down prices for a variety of assets yesterday, the new regulatory threat helped push down cryptocurrency… Read More »
Weekly Geopolitical Report – Nigeria’s Conflict with Biafra and Social Media (July 19, 2021)
by Thomas Wash | PDF On June 2, Twitter (TWTR, $61.72) removed a tweet posted by Nigerian President Muhammadu Buhari that vaguely threatened Biafran separatists. Buhari’s tweet appeared to be in response to a series of attacks against Nigerian security forces and police officers. In any case, Buhari has become the latest high-level political leader… Read More »
Daily Comment (July 19, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning. U.S. equity futures continue to trend lower this morning. A resurgence in COVID-19 infections and worries about the economy and inflation have weakened investor sentiment. Oil prices are sharply lower this morning, and bond yields are falling as… Read More »
Daily Comment (July 16, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning, all! U.S. equities appear to be headed for a higher open this morning. The overnight news was rather quiet. Our report begins with international news and discussions about rising tensions between Poland and the EU, Iranian hackers targeting… Read More »
Asset Allocation Weekly (July 16, 2021)
by the Asset Allocation Committee | PDF The pandemic-related expanded benefits for the unemployed are expected to end in September. States that have ended the booster early have seen a sharper decline in initial claims than states that haven’t ended them. Although the end of enhanced employment benefits could help resolve the labor shortage, there… Read More »