Research & News
Daily Comment (July 18, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with news that the U.S. is sending more military forces to the Middle East to counter Iranian mischief there. We next review a wide range of other international and U.S. developments with the potential to affect the financial… Read More »
Daily Comment (July 17, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with several items related to China. As usual, the trend remains negative. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets today, including further efforts by the… Read More »
Asset Allocation Bi-Weekly – Are Higher Interest Rates Bearish for Risk Assets? (July 17, 2023)
by the Asset Allocation Committee | PDF Orthodox finance and economics rests on the idea that higher interest rates reduce economic activity and lower the attractiveness of risk assets. We have no real quarrel with the part about reducing economic activity as higher borrowing costs will tend to slow investment and consumer durable spending. The… Read More »
Daily Comment (July 14, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Today’s Comment begins with a discussion about a possible shift in Fed policy. Next, we give an update on the latest stories surrounding artificial intelligence. Lastly, we end the report detailing the possible ramifications of the breach in the price cap on… Read More »
Daily Comment (July 13, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Today’s Comment begins with our thoughts about the better-than-expected inflation report. Next, we explain how tight policy abroad may impact domestic economies. Lastly, the report discusses how tensions within NATO may not necessarily doom the military alliance. Inflation Cools: Investors are hopeful… Read More »
Weekly Energy Update (July 13, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Falling U.S. inflation is raising hopes that the Fed’s tightening cycle is coming to an end. That has lifted oil prices, triggering a breakout above the recent trading range. (Source: Barchart.com) Commercial crude oil inventories rose 5.9 mb, well above the 0.1 mb draw… Read More »
Daily Comment (July 12, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with notes on global asset allocation strategy among hedge funds and new developments in the global race for electric-vehicle minerals. We next review a wide range of other international and U.S. developments with the potential to affect the… Read More »
Daily Comment (July 11, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with news that Turkey has agreed to support Sweden’s accession to NATO, creating an even more formidable military bulwark in response to Russia’s invasion of Ukraine. We next review a wide range of other international and U.S. developments… Read More »