Research & News
Daily Comment (May 29, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning and happy Friday! Global equities are softer this morning as tensions between the U.S. and China continue to rise. We discuss the latest with China. As usual, we update what we know about COVID-19. The Weekly Energy Update is available. … Read More »
Weekly Energy Update (May 29, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA Due to the Memorial Day holiday, the DOE data was delayed until yesterday. Thus, our report was delayed as well. Here is an updated crude oil price chart. The oil market continues to recover after April’s historic collapse. Crude oil inventories surprised the markets for the… Read More »
Daily Comment (May 28, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Global equities are steady to higher this morning after a continued strong march higher. We update the COVID-19 situation; the U.S. death toll now exceeds 100k. We discuss the Hong Kong/China situation. The Beige Book was released yesterday. We are… Read More »
Daily Comment (May 27, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Risk assets appear set to follow through on their rise yesterday, reflecting not only more signs of a nascent economic recovery from the coronavirus crisis, but also a slew of new stimulus measures in the U.S., Europe and Japan. We highlight all… Read More »
Daily Comment (May 26, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] The rally in risk assets around the globe today comes as coronavirus restrictions continue to be lifted around the world, economic activity starts to increase again, and more potential vaccines make their way into trials. So far today, those bright spots are… Read More »
Asset Allocation Weekly (May 22, 2020)
by Asset Allocation Committee Beginning in the late 1990s and becoming an even bigger issue after Dodd-Frank regulations were imposed following the Great Recession, many market participants worried that bond market liquidity would be absent in the face of a crisis. Strict regulations discouraged banks and brokerage firms from holding large inventories of corporate bonds, thereby… Read More »
Daily Comment (May 22, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning and Happy Friday! As a reminder, financial markets will be closed on Monday, so the next Daily Comment will come to you on Tuesday. Hong Kong tensions are depressing global equity markets. We cover the crackdown on Hong Kong. As… Read More »
Daily Comment (May 21, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Equity markets are taking a breather this morning. China is preparing for its CPC spring meetings. Germany bends (a little) on a Eurobond. We touch on the Fed minutes and update the COVID-19 news. The Weekly Energy Update is available,… Read More »
Weekly Energy Update (May 21, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA Here is an updated crude oil price chart. The oil market continues to show signs of recovery. One interesting development has been in open interest. Open interest is the number of open contracts in a futures market. Most of the time, the highest open interest in… Read More »