Research & News
Daily Comment (August 31, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Happy Monday on this last day of August. Risk markets are quietly higher this morning. We begin with Japan, as leaders of the LDP jockey to replace Abe. We update the situation in Belarus and then discuss other foreign news. … Read More »
Daily Comment (August 28, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Happy Friday! Equity markets are moving higher this morning; we cover the consumer spending data below. There is a lot happening today. PM Abe, suffering from chronic digestive track issues, has resigned. We recap the historic Powell speech from yesterday. … Read More »
Asset Allocation Weekly (August 28, 2020)
by Asset Allocation Committee | PDF As people think about the supplemental federal unemployment benefit of $600 per week that was in place through July, most would assume that if the total benefits exceed a person’s actual wages, they will choose to be unemployed instead of accepting employment. Anecdotal reports suggest that companies are running… Read More »
Daily Comment (August 27, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF Good morning. After hitting another new high yesterday, S&P futures are consolidating this morning. There is a lot to get through today; the first revision to GDP is out and is covered below. We lead off with Chair Powell speaking… Read More »
Weekly Energy Update (August 27, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Here is an updated crude oil price chart. The oil market has stabilized at higher levels after April’s historic collapse. Crude oil inventories fell more than anticipated, declining 4.7 mb compared to forecasts of a 3.0 mb decline. The SPR declined 1.8 mb; since… Read More »
Daily Comment (August 26, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF It’s a pretty quiet news day today, which is probably fitting for the dog days of summer. Unfortunately, the lack of news also means there’s still no discernible progress on the next coronavirus relief bill in Congress. Another negative is… Read More »
Daily Comment (August 25, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EDT] | PDF The newest Confluence of Ideas podcast episode, “The Dollar and the Eurobond,” is available today! This episode looks at the decision by the EU to create a mutualized bond, a debt instrument backed by the full faith and credit of… Read More »