Research & News
Weekly Energy Update (October 29, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. Prices remain rangebound but are testing the lower boundary of the range. Commercial crude oil inventories rose 4.3 mb when a 1.5 mb build was expected. The SPR declined 0.7 mb; since peaking at 656.1 mb… Read More »
Daily Comment (October 28, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Before turning to the daily news, we want to note that our Asset Allocation Rebalance Chart Book for the fourth quarter is now available on Vimeo. In this video, we review our asset allocation process, detail our quarterly portfolio adjustments,… Read More »
Daily Comment (October 27, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Before turning to the daily news, we want to mention that our latest Confluence of Ideas podcast is now available here. This edition discusses our outlook for how U.S. foreign policy is likely to develop in the coming years depending… Read More »
Weekly Geopolitical Report – The Election of 1876: Part II (October 26, 2020)
by Bill O’Grady | PDF Last week, we outlined the history of the presidential election of 1876. This election was disputed and required a special commission to resolve. This week, we will begin with a discussion of our current procedure for electing presidents and the impact of partisanship on the existing environment. We will use… Read More »
Daily Comment (October 26, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF It’s Monday, the last week of October. U.S. equity futures are weaker this morning. A big reason has been a global resurgence of the virus. It leads off our coverage this morning. Next up is international news. In this week’s… Read More »
Daily Comment (October 23, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning and happy Friday! U.S. equity futures are modestly higher this morning. The last presidential debate came and went; it was more orderly than the last one. At this late date, we doubt it will have a significant effect… Read More »
Asset Allocation Weekly (October 23, 2020)
by Asset Allocation Committee | PDF The measures adopted to combat the spread of COVID-19 caused one of the most unusual recessions in American economic history. Although all recessions have their own unique characteristics, the recession that began in February was historically deep; it is likely already over too, making it one of the shortest… Read More »
Daily Comment (October 22, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning. U.S. equity futures are a bit weaker as the financial markets continue to watch for some sort of fiscal action. We start today’s coverage with policy news, including an update on the latest with the fiscal stimulus talks… Read More »