Research & News
Daily Comment (August 7, 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 and its relations with the rest of the world. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets today, including news… Read More »
Daily Comment (August 4, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment will discuss three topics: recent optimism about the global economy, the Bank of Japan’s recent intervention in bond markets, and the increase in global defense spending due to the rift between the U.S. and China. Turning Tide: While… Read More »
Daily Comment (August 3, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment will explore three key topics: the U.S. deficit, central bank policy, and the U.K.’s post-Brexit economy. First, we will discuss the U.S. deficit and what it may mean for bond yields. Second, we will explain why other central… Read More »
Weekly Energy Update (August 3, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices challenged the upper end of the trading range but so far have failed to breakout above that level. (Source: Barchart.com) Commercial crude oil inventories fell a massive 17.0 mb, well above the 2.3 mb draw forecast. The SPR was unchanged. In the… Read More »
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 »