Research & News
Daily Comment (November 20, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with indications of a potential cooling of Japan-China tensions as Beijing looks to bolster Chinese economic growth. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets today,… Read More »
Asset Allocation Bi-Weekly – Reflections on Earnings (November 20, 2023)
by the Asset Allocation Committee | PDF The third quarter’s earnings season is coming to a close and, once again, earnings beat expectations. In this report, we will take a more in-depth look at S&P 500 earnings and overall corporate earnings. This chart examines S&P 500 earnings on a four-quarter trailing basis. We have regressed… Read More »
Daily Comment (November 17, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Good morning! Oil prices fell into bear market territory on Friday due to a jump in U.S. inventories and demand pessimism. In other news, Shohei Ohtani, formerly of the Angels, and the Braves’ Ronald Acuna Jr. were named the most valuable players… Read More »
Daily Comment (November 16, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Good morning! Gold prices are rising as investors eagerly await the Federal Reserve’s next policy decision, while Gerrit Cole has been named the American League Cy Young Award winner. Today’s Comment delves into the reasons behind the surge in investor risk taking… Read More »
Weekly Energy Update (November 16, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices have retreated from their early October highs. (Source: Barchart.com) Commercial crude oil inventories rose 0.8 mb compared to forecasts of a 2.0 mb build. The SPR was unchanged, which puts the net build at 0.8 mb. In the details, U.S. crude… Read More »
Daily Comment (November 15, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with new impediments to U.S. investments in China. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets today, including the latest on the Israel-Hamas conflict, new signs… Read More »
Daily Comment (November 14, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with new data suggesting Russia is now almost completely getting around the West’s $60 price cap on its oil exports, potentially setting up new Western efforts to clamp down. We next review a wide range of other international… Read More »
Bi-Weekly Geopolitical Report – The Archetypes of American Foreign Policy: A Reprise (November 13, 2023)
Bill O’Grady | PDF A critical issue in 2024 will be the U.S. presidential elections. America is going through a particularly partisan period where passing legislation is difficult and policy shifts between administrations are widening. Foreign policy isn’t exempt from these changes. In preparation for next year’s election, we wanted to update one of our… Read More »