Research & News
Weekly Geopolitical Report – The Geopolitics of the Strategic Petroleum Reserves (November 22, 2021)
by Bill O’Grady | PDF (NB: Due to the Thanksgiving holiday, the next report will be published on December 6.) During the 1970s, the world economy suffered through two oil shocks. The first, in 1973, was caused by the Yom Kippur War. The U.S. supported Israel, and the Arab states retaliated with an oil embargo. … Read More »
Daily Comment (November 22, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF N.B.: HOLIDAY SCHEDULE – The Daily Comment will go on hiatus after Tuesday’s report and will return on Monday, November 29. A Weekly Geopolitical Report will be published today, and the next report will be available on December 3. There… Read More »
Daily Comment (November 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 are signaling a lower open. Today’s report begins with U.S. economic and policy news, followed by our roundup of China-related stories. International news is next, and we conclude with our pandemic coverage. Economics and policy:… Read More »
Asset Allocation Weekly – The Composition of the FOMC (November 19, 2021)
by the Asset Allocation Committee | PDF (NB: Due to the Thanksgiving holiday, the next report will be published on December 3.) The FOMC now has at least three vacant governor positions and two regional bank president positions. There is one vacancy that remains from the Trump administration. Richard Clarida’s vice-chair position expires in January. … Read More »
Daily Comment (November 18, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning on the eve of a major lunar eclipse! U.S. equity futures are moving higher this morning, and oil prices are ticking higher as well, despite U.S. pressure for a wider SPR release. Our coverage begins with comments on… Read More »
Weekly Energy Update (November 18, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF (N.B. Due to the Thanksgiving Day holiday, the next report will be published on December 2.) Oil prices have been struggling this week, testing support $79.50. (Source: Barchart.com) Crude oil inventories unexpectedly fell 2.1 mb compared to a 1.2 mb build forecast. The SPR… Read More »
Daily Comment (November 17, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF Today’s Comment begins with a range of U.S.-related developments, including news that Monday’s summit between Presidents Biden and Xi opened the possibility of negotiations for a nuclear arms control deal with the U.S. and China. We next turn to several… Read More »
Daily Comment (November 16, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] | PDF In today’s Comment, we open with a few important international developments, including last night’s U.S.-China virtual summit and a potential worsening of Europe’s energy crisis. We also cover several other U.S. and foreign economic and political developments. We wrap things… Read More »
Weekly Geopolitical Report – The Special Relationship (November 15, 2021)
by Thomas Wash | PDF Ever since the United Kingdom defeated the Spanish Armada in the 16th century, it has typically kept Europe at arm’s length. The victory not only showed that the British could successfully defend itself from invasion, but that it was an important power in Europe. This newfound confidence along with the… Read More »