Research & News
Daily Comment (August 2, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with a discussion of Fitch’s decision to cut the U.S. government’s bond rating to one notch below its highest score. We next review a wide range of other international and U.S. developments with the potential to affect the… Read More »
Daily Comment (August 1, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with news that the coup leaders who seized power in Niger have announced an embargo on sending uranium and gold to France—a move that’s entirely consistent with the type of behavior we’ve been warning about from the China/Russia… Read More »
Daily Comment (July 31, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with several reports touching on China’s economy and foreign relations. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets today, including a modest acceleration in eurozone economic… Read More »
Asset Allocation Bi-Weekly – Part-Time Troubles (July 31, 2023)
by the Asset Allocation Committee | PDF The job market has greatly surpassed the expectations of leading experts so far this year. Back in December, a Bloomberg survey found that economists predicted that monetary policy tightening by the Federal Reserve would push the country into a recession in the first half of 2023. They estimated… Read More »
Daily Comment (July 28, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment begins with a discussion about the Bank of Japan’s latest policy decision. Next, we will provide an in-depth analysis of the GDP report, including why we believe that the warm weather may hurt economic growth in the third… Read More »
Daily Comment (July 27, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment begins with a summary of the Federal Open Market Committee’s policy rate decision and our views on the path of rates going forward. Next, we provide an overview of the European Central Bank’s monetary policy decision. Finally, we… Read More »
Weekly Energy Update (July 27, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices have moved into the upper end of the trading range. (Source: Barchart.com) Commercial crude oil inventories fell 0.6 mb, less than the 2.0 mb draw forecast. The SPR was unchanged. In the details, U.S. crude oil production fell 0.1 mbpd to 12.2… Read More »
Daily Comment (July 26, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with news that China is making new progress toward developing a network of naval facilities in the waters of the Indo-Pacific region. We next review a range of other international and U.S. developments with the potential to affect… Read More »