Research & News
Weekly Geopolitical Report – The Geopolitics of Central Bank Digital Currencies (CBDC): Part IV (April 12, 2021)
by Bill O’Grady | PDF This week, we conclude our series on CBDC with market ramifications. Ramifications Money is a seminal good. As our metaphysical discussion examined, economics has tended to avoid forays into the being of money.[1] Accordingly, for the past 150 years, there have been steady changes to the use of money, from… Read More »
Daily Comment (April 12, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning all, and Happy Monday! U.S. equity futures are lower this morning, pausing to refresh after a series of new highs. Our coverage begins with economics and policy. Amazon (AMZN, USD, 3372.22) avoided a unionization vote in Alabama, and… Read More »
Daily Comment (April 9, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning. Equity markets are expected to open higher this morning as Treasury yields will likely drop for a fourth consecutive day. We begin our coverage with the Alabama warehouse union vote and the Biden administration’s proposal for a global… Read More »
Asset Allocation Weekly (April 9, 2021)
by Asset Allocation Committee | PDF One key worry for investors these days is whether massive fiscal stimulus, loose monetary policy, and accelerating economic growth will spark runaway inflation. That concern has been a major factor in driving down fixed income prices and boosting bond yields since the beginning of the year. However, we’ve been… Read More »
Daily Comment (April 8, 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 are mostly elevated this morning in the wake of yet another record S&P 500 close. We open commentary this morning with the Fed minutes. Economics and policy follow with corporate taxes in the spotlight. … Read More »
Weekly Energy Update (April 8, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices continue to consolidate in a tight range between $62 and $58 per barrel. (Source: Barchart.com) Crude oil inventories fell 3.5 mb compared to the 2.0 mb draw expected. There was no change in the SPR. Refinery operations have normalized to pre-Texas freeze levels.… Read More »
Daily Comment (April 7, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Today’s Comment opens with various observations concerning monetary and fiscal policy and their implications for U.S. economic growth. We next look at the new report of a possible U.S. and allied boycott of the 2022 Winter Olympics in Beijing over… Read More »
Daily Comment (April 6, 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 developments that suggest Democrats in Congress could have more options to push through their economic and tax agendas than previously thought. Increased fiscal stimulus, rapidly expanding vaccinations, and economic reopening continue to buoy… Read More »