Research & News
Daily Comment (May 12, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Investors today continue to focus on pandemic lockdowns being eased around the world, including the reopening of schools in much of Europe, but a bit of caution is rising as some countries and localities are seeing a rebound in cases. As always,… Read More »
Weekly Geopolitical Report – Schumann in Volgograd (May 11, 2020)
by Patrick Fearon-Hernandez, CFA If you ever find yourself in Volgograd, Russia, you will visit Rodina Mat’ Zovyot. It’s unavoidable. The statue, depicting Mother Russia calling her sons to battle against her invaders, is one of the tallest in the world. Standing almost 280 feet high, she is nearly twice as tall as the Statue… Read More »
Daily Comment (May 11, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning and happy Monday! Given the news flow of recent weeks, it was rather quiet overnight. Risk markets are lower this morning. We update the COVID-19 news. Here are the details: COVID-19: The number of reported cases is 4,122,173 with 283,001… Read More »
Asset Allocation Weekly (May 8, 2020)
by Asset Allocation Committee The U.S. economy has been hit with shelter-in-place orders that have depressed consumption and reduced production. The economic readings on Q2 will be historically bad, perhaps even worse than the Great Depression. However, based on the assumptions that (a) aggressive policy support will continue, and (b) the pandemic will wane over time,… Read More »
Daily Comment (May 8, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning and happy Friday! Global risk markets are rising at the same time Treasury yields are falling. It’s employment Friday; we cover the data below but, suffice it to say, it’s historic and not in a good way. We update the… Read More »
Daily Comment (May 7, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Good morning; it’s the 75th anniversary of Germany’s surrender in WWII. Despite expectations of dreadful labor market data tomorrow, equity futures continue to move higher. The BOE maintains current policy. We update the COVID-19 news. Our Weekly Energy Update can be found… Read More »
Weekly Energy Update (May 7, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA Here is an updated crude oil price chart. The oil market is showing signs of recovery. Crude oil inventories rose 4.6 mb compared to the forecast rise of 8.0 mb. In the details, U.S. crude oil production fell 0.2 mbpd to 11.9 mbpd. Exports rose 0.4… Read More »
Daily Comment (May 6, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] Today’s positive market action comes as state governments and countries around the globe continue to ease their coronavirus restrictions. Besides that, it’s also VE Day, and the beginning of National Nurses Week! We review all the virus news below, along with a… Read More »
Daily Comment (May 5, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] The risk-on tenor in the markets today reflects continued scientific progress against the coronavirus and further lockdown easing across the globe, although there are also worries that the easing might come too fast and spark a second wave of infections. Below, we… Read More »