Research & News
Weekly Geopolitical Report – Reflections on Terrorism (September 19, 2016)
by Bill O’Grady Fifteen years ago, al Qaeda terrorists used commercial airplanes to attack the World Trade Center in New York and the Pentagon in Washington. Another aircraft crashed in rural Pennsylvania; it was believed to be en route for another attack but passengers on the plane prevented the terrorists from achieving their goal. The events… Read More »
Daily Comment (September 19, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] It was a very busy weekend for news. Let’s take a look: Terrorist attacks: There were a couple of bomb explosions over the weekend along with a number of unexploded devices found in the Greater New York area. The story is evolving but security officials have… Read More »
Asset Allocation Weekly (September 16, 2016)
by Asset Allocation Committee Since the beginning of September, 10-year T-note yields have risen from a low of 1.52% to a high of 1.75%. This backup in yields is as issue we are monitoring carefully because we have favored long-duration assets for some time. We analyze long-dated interest rates by starting with a fair value assessment… Read More »
Daily Comment (September 16, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] There isn’t a ton of news in the financial markets this morning. The most discussed is the DOJ decision to levy a $14 bn fine against Deutsche Bank AG (DB, $14.76). In European trading, shares were off over 8% overnight. The bank was anticipating a fine… Read More »
Daily Comment (September 15, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] The big overnight news was the BOE’s decision to hold rates and bond-buying steady, which was expected. The committee vote was 9-0 in favor of the current policy. The bank did indicate, however, that it was still on course to lower rates later this year and… Read More »
Daily Comment (September 14, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] In the next AAW (published Friday), we will discuss the very important impact of foreign issues on U.S. Treasury yields. This is one reason why the financial markets have become focused on the BOJ’s review of its monetary policy. There are rumors swirling as to what… Read More »
Daily Comment (September 13, 2016)
by Bill O’Grady and Kaisa Stucke [Posted: 9:30 AM EDT] Risk markets are lower to sideways as oil tumbled this morning after the International Energy Agency revised its global demand estimates lower and indicated that the global inventory glut will last longer than it had previously estimated. Domestic oil inventories are expected to build this week… Read More »
Weekly Geopolitical Report – After Karimov (September 12, 2016)
by Bill O’Grady On August 29, the president of Uzbekistan, Islam Karimov, died from a cerebral hemorrhage. Karimov had been in office since the founding of Uzbekistan following the fall of the Soviet Union. Given his long tenure in office and the uncertainty that always surrounds the transfer of power in an authoritarian regime, there are… Read More »