Research & News
Daily Comment (May 20, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Today’s U.S. market strength stems in part from earnings reports showing many companies have been able to adjust relatively well to the coronavirus challenges, albeit with higher costs. Adding to the positive vibe is news that all 50 states have now relaxed… Read More »
Daily Comment (May 19, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] The generally positive trend in risk markets today comes as coronavirus restrictions continue to be lifted around the world and scientists continue to make progress in understanding the virus, coming up with treatments and developing vaccines. We review all the key news… Read More »
Weekly Geopolitical Report – The Geopolitics of the 2020 Election: Part I (May 18, 2020)
by Bill O’Grady | PDF (NB: Due to the Memorial Day holiday, the next report will be published on June 1.) In our geopolitical outlook for 2020,[1] our most important issue was the 2020 elections. In general, U.S. presidential elections are geopolitical issues because of America’s hegemonic status. In an era where the U.S. is… Read More »
Daily Comment (May 18, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning and happy Monday! Equity markets are on a tear this morning, and oil is also higher. Reports that vaccine trials are going well are boosting stocks. There wasn’t much news on China overnight, which probably accounts for some of the… Read More »
Asset Allocation Weekly (May 15, 2020)
by Asset Allocation Committee As the Federal Reserve expands its balance sheet and the federal deficit balloons, there is a legitimate concern about the potential for inflation. In this week’s report, we will examine inflation from a theoretical perspective. There are two simple tools we use to discuss inflation, the equation of exchange and the intersection… Read More »
Daily Comment (May 15, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning and happy Friday! Equity markets are weaker after a rather robust recovery yesterday. Trade worries appear to be a problem. We update the COVID-19 news. Retail sales are out this morning—details below. Here is what we are watching: COVID-19: The… Read More »
Daily Comment (May 14, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning! Equity markets continue under pressure this morning. We update the COVID-19 news. The Weekly Energy Update is available. Here are the details: COVID-19: The number of reported cases is 4,364,172 with 297,491 deaths and 1,418,656 recoveries. In the U.S., there… Read More »
Weekly Energy Update (May 14, 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. Crude oil inventories surprised the markets by falling 0.7 mb compared to the forecast rise of 5.0 mb. In the details, U.S. crude oil production fell 0.3 mbpd to… Read More »
Daily Comment (May 13, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] The general rise in today’s markets comes as multiple countries and states continue to ease their coronavirus restrictions and Democrats in the House released their proposal for another round of fiscal relief, but optimism remains tempered by health officials’ warnings against easing… Read More »