Research & News
Daily Comment (March 18, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning! U.S. equity futures have mostly failed to hold yesterday’s gains as long-duration Treasury yields continue to move higher. Our coverage begins with economics and policy with a focus on the FOMC and monetary policy. China news comes next… Read More »
Weekly Energy Update (March 18, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. Prices are consolidating in the low $60s. Crude oil inventories rose 2.4 mb which was in line with forecast. There was no change in the SPR. We did see a recovery in refinery operations but not… Read More »
Daily Comment (March 17, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Happy St. Patrick’s Day! Turning to today’s Comment, we open with a preview of the Federal Reserve’s latest policymaking conclave. The meeting decision will be released early this afternoon, followed by a press conference. We also review a range of… Read More »
Daily Comment (March 16, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Today’s Comment opens with a review of the Federal Reserve policy meeting that begins this morning (spoiler alert: no policy change is expected). We then review several important new items from overseas, including signs that the Chinese government is taking… Read More »
Weekly Geopolitical Report – The Geopolitics of Central Bank Digital Currencies (CBDC): Part I (March 15, 2021)
by Bill O’Grady | PDF There has been a surge in interest in digital currencies among the world’s central banks. The triggering event was probably Facebook’s (FB, USD, 264.28) unveiling of the LIBRA project in June 2019. Digital currencies of various stripes have been around for some time; bitcoin (BTR, USD, 49,989.80), introduced in 2009,… Read More »
Daily Comment (March 15, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning, Monday! We have an additional sign of spring, the semiannual clock adjustment. March Madness begins this week, all in one city. U.S. equity futures are ticking higher this morning as Treasury yields are steady to lower. Our coverage… Read More »
Daily Comment (March 12, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF We have published our latest Weekly Geopolitical Report, which is Part II of our two-part series on the Western Sahara. We also have several other recent multimedia offerings. There is a new chart book recapping the recent changes we made… Read More »
Asset Allocation Weekly (March 12, 2021)
by Asset Allocation Committee | PDF With the U.S. dollar apparently poised for what could be a long phase of depreciation, investors are naturally looking more closely at foreign stocks for future growth. Japan has been a prime focus, not only because it sports the world’s third-largest economy and the third-largest equity market, but also… Read More »
Daily Comment (March 11, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF We have published our latest Weekly Geopolitical Report, which is Part II of our two-part series on the Western Sahara. We also have several other recent multimedia offerings. There is a new chart book recapping the recent changes we made… Read More »