Research & News
Daily Comment (January 24, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Happy Friday! Davos continues, and the coronavirus continues to dominate the news on the eve of the “year of the rat.” Here is what we are watching this morning: Coronavirus: The virus has now been blamed for 25 fatalities and has infected… Read More »
Daily Comment (January 23, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Davos continues, the ECB meets, but it’s the coronavirus dominating the news. The U.S. is setting its trade sights on the EU. Here is what we are watching this morning: Coronavirus: The latest death toll is 17 and the number of confirmed… Read More »
Asset Allocation Quarterly (First Quarter 2020)
The U.S. election season and the more dovish composition of the Federal Reserve Board of Governors should ensure policy accommodation continues in the near-term. The recent resolution of trade policies with China and the prospect for finalization of USMCA produces an environment where corporate capital can be deployed with less uncertainty. Although we hold a… Read More »
Daily Comment (January 22, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Davos continues, impeachment dominates the news (but has no discernable impact on financial markets) and we continue to monitor the coronavirus. Lebanon gets a new government, Norway’s fails and Italy’s might be close to failing. Here is what we are watching this… Read More »
Daily Comment (January 21, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] It’s Davos week! World leaders in politics, business, academia and media are all gathering in Davos, Switzerland. Your Daily Comment team is skipping the event this year, remaining in picturesque downtown Webster Groves instead. It’s a risk-off market this morning as the… Read More »
Asset Allocation Weekly (January 17, 2020)
by Asset Allocation Committee The December employment data showed three interesting developments that are worth discussing. They are wage growth, hours worked and the level of “out of the workforce.” Wage growth: For most of last year, production and non-supervisory wage growth was outpacing that of overall workers. This development suggested that ordinary workers were finally… Read More »
Daily Comment (January 17, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Happy Friday! Equity markets continue to grind steadily higher to new record levels. The White House officially nominated the two last open governor positions on the FOMC. An update on the Iran missile attack and other Iran issues. Germany is holding a… Read More »
Daily Comment (January 16, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Good morning! Equity markets continue to grind steadily higher; in fact, it’s the third longest streak since 1995 of the major indices not moving more than 1% in either direction. Why? Our quick take is that we are seeing the combination of… Read More »
Daily Comment (January 15, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Good morning! It was a very quiet overnight session as markets await the signing of the Phase One deal with China. Here is what we are watching this morning: BREAKING: Russian PM Medvedev resigned this morning along with the entire Russian government. … Read More »
Daily Comment (January 14, 2020)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA [Posted: 9:30 AM EST] Markets are quiet this morning as earnings season begins. Trade is the biggest headline, as the U.S. and China are expected to sign a deal tomorrow. Here is what we are watching this morning: Trade: First, the U.S. and China are expected… Read More »