Research & News
Weekly Geopolitical Report – Why China and India Are Fighting (July 13, 2020)
by Patrick Fearon-Hernandez, CFA | PDF In a bizarre confrontation last month, Chinese and Indian soldiers fought a pitched battle in near total darkness high up in the Himalayan mountains. If that wasn’t strange enough, the weapons used were merely fists, stones, police batons, and wooden clubs wrapped in barbed wire or studded with nails.… Read More »
Asset Allocation Weekly (July 10, 2020)
by Asset Allocation Committee Equity markets, to a greater or lesser degree, tend to reflect social and political trends. After all, the mood of investors plays a role in the propensity to move money into stock markets. Unfortunately, the impact of social or political events on equities tends to be a mixed bag. The chart below… Read More »
Weekly Energy Update (July 9, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA Here is an updated crude oil price chart. The oil market has stabilized at higher levels after April’s historic collapse. Crude oil inventories rose well above market expectations, with stockpiles rising 5.3 mb compared to forecasts of a 3.0 mb draw. The SPR added 0.6 mb… Read More »
Weekly Geopolitical Report – The Geopolitics of the Eurobond (June 29, 2020)
by Bill O’Grady | PDF (N.B. Due to the Independence Day holiday, the next report will be published on July 13.) A global hegemon provides two broad categories of public goods. The first is security. A successful hegemon enforces some degree of global security as it has the ability to project power globally. This power… Read More »
Asset Allocation Weekly (June 26, 2020)
by Asset Allocation Committee (N.B. Due to the Independence Day holiday, the next report will be issued on July 10, 2020.) Since 2008, some central banks have implemented negative policy interest rates. Standard economics suggests that negative nominal rates on deposits are impossible because holders could simply liquidate the deposit and “put the money under the… Read More »
Weekly Energy Update (June 25, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA (NB: Due to the upcoming Independence Day holiday, the next report will be published on July 9.) Here is an updated crude oil price chart. The oil market has stabilized at higher levels after April’s historic collapse. Crude oil inventories rose less than market expectations, with… Read More »