Research & News
Daily Comment (October 12, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Today’s Comment opens with several big and broad crises, including the global energy crunch, China’s clampdown on private firms, and Chinese debt issues. We also cover other foreign and U.S. developments, and we wrap up with the latest on the… Read More »
Weekly Geopolitical Report – AUKUS (October 11, 2021)
by Bill O’Grady | PDF On September 15, the leaders of the U.S., U.K., and Australia announced a new security relationship which includes a nuclear submarine arrangement with Australia. Although it will likely take a couple of decades before Australia will have its own indigenous nuclear propulsion vessels, the treaty means that the U.S. and… Read More »
Daily Comment (October 11, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning. It’s Columbus Day and Indigenous People’s Day. Being a commercial bank holiday, the Treasury market is closed, although Treasury futures are trading and would suggest interest rates will continue to rise. It’s also a government holiday, meaning there… Read More »
Daily Comment (October 8, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning! Today’s report begins with our thoughts on China-U.S. trade relations. We then review various international news items followed by U.S. economics and policy. China news is next, and we end with our pandemic coverage. China-U.S.: Tensions between the… Read More »
Asset Allocation Weekly – Has Bitcoin Become a Substitute for Gold? (October 8, 2021)
by the Asset Allocation Committee | PDF Over the last half-decade, one of the most dramatic developments in finance has been investors’ embrace of cryptocurrencies such as Bitcoin. Once considered merely an exotic technology with little relevance to investment portfolios, Bitcoin has now become a popular tool for investing. One reason for its popularity is… Read More »
Daily Comment (October 7, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning. U.S. equity futures are up this morning. A potential deal on the debt ceiling and relief on oil and gas prices have improved sentiment. Our coverage begins with an examination of these two factors. Up next is crypto… Read More »
Weekly Energy Update (October 7, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices are approaching $80 per barrel. (Source: Barchart.com) Crude oil inventories rose 2.3 mb compared to the 1.0 build forecast. The SPR declined 0.9 mb, meaning the net draw was 1.4 mb. In the details, U.S. crude oil production rose 0.2 mbpd to 11.3… Read More »
Daily Comment (October 6, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF We open today’s Comment with the latest developments in U.S. fiscal policy and other issues. We then turn to several international issues, many of which are playing into the weak financial markets we’re seeing across the globe today. Those items… Read More »
Daily Comment (October 5, 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 multiple U.S. developments that have the potential to affect the financial markets today, including the latest on the federal government’s debt limit, signs of growing worker clout in the labor market, and new regulatory… Read More »