Research & News
The Case for Hard Assets: An Update (September 2020)
by Bill O’Grady & Mark Keller | PDF Background and Summary In this report, we use the term “commodities” to imply “hard assets.” In our definition, the latter is a commodity that requires multiple years to generate a supply response. This definition excludes agricultural commodities, which tend to create a supply response on an annual… Read More »
Daily Comment (September 30, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Our Daily Comment today provides a short recap of last night’s presidential debate, as well as an update on the fighting in Nagorno-Karabakh. Next is a discussion of today’s positive economic data out of China. We also discuss some new… Read More »
Daily Comment (September 29, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Our Daily Comment today provides a brief introduction to tonight’s presidential debate, the anticipation of which could keep a lid on the markets throughout the day. We also discuss several geopolitical tensions involving Eastern Europe, as well as the latest… Read More »
Weekly Geopolitical Report – Erdoğan’s Leadership and the Turkey-Greece Dispute: Part I (September 28, 2020)
by Patrick Fearon-Hernandez, CFA | PDF When talking about international relations, it’s tempting to describe each country as a monolithic, rational decisionmaker with a settled set of concerns, goals, strategies, and tactics. Examples of such descriptions include: China wants to solidify its claim to the South China Sea; Russia is trying to undermine Western democracies;… Read More »
Daily Comment (September 28, 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 September, and the end of Q3. Equity markets are in full recovery mode this morning. We start our coverage with a comment about the election situation. World news comes next, with a focus on… Read More »
Daily Comment (September 25, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF It’s Friday and we are closing another week. Equity markets continue to struggle. We lead off with policy news from around the world (including the U.S.). China news is next. We update the pandemic news followed by international news. As… Read More »
Asset Allocation Weekly (September 25, 2020)
by Asset Allocation Committee | PDF For more than a decade, U.S. investors who diversified their risk assets to include foreign equities have been sorely disappointed in the results. Since September 2010, for example, the S&P 500 Index of large cap U.S. stocks has provided an average annual total return of approximately 13.9%, but the… Read More »
Daily Comment (September 24, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning, all. Equity markets are marking time this morning, but the market tone isn’t very good. A general market comment leads our coverage this morning. The virus update comes next. China news follows. We close with economic, policy, and… Read More »