Research & News
Weekly Energy Update (April 13, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil gapped higher in early April on reports that OPEC+ was cutting production targets. It has held those gains and is now moving above chart resistance at $82 per barrel. (Source: Barchart.com) Commercial crude oil inventories rose 0.6 mb compared to the forecast… Read More »
Daily Comment (April 12, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with updated projections for global economic growth from the International Monetary Fund. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets today, including new evidence that China… Read More »
Daily Comment (April 11, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with key news on the global technology sector, including data showing a steep downturn in personal computer shipments and increasing regulatory pressure on the evolving artificial intelligence industry. We next review a wide range of other international and… Read More »
Daily Comment (April 10, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with the latest on the big leak of classified U.S. intelligence documents that was discovered late last week. We next review a wide range of other international and U.S. developments with the potential to affect the financial markets… Read More »
Asset Allocation Bi-Weekly – Increasing Concerns About Commercial Real Estate (April 10, 2023)
by the Asset Allocation Committee | PDF Last month’s failure of Silicon Valley Bank (SIVB, $106.04) showed that the institution had vulnerabilities in both its assets and its liabilities. On the asset side of its balance sheet, the bank had too much exposure to longer-maturity government bonds, which depreciated sharply as the Federal Reserve aggressively… Read More »
Daily Comment (April 6, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Happy Maundy Thursday! Today’s Comment starts with our thoughts about tomorrow’s job report. Next, we discuss possible substitutes to the equity and futures markets to gauge investor reaction to the labor market data. Lastly, we review the latest development in the conflict… Read More »
Weekly Energy Update (April 6, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil jumped on the unexpected decision by OPEC+ to cut production targets. (Source: Barchart.com) Crude oil inventories fell 3.7 mb compared to the forecast of a 1.8 mb build. The SPR fell 0.4 mb. In the details, U.S. crude oil production was unchanged… Read More »
Daily Comment (April 5, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with the latest signs and implications of worsening U.S.-China tensions, including an important admission by a top U.S. business leader that China poses major economic threats to the U.S. and must be confronted. We next review a wide… Read More »
Daily Comment (April 4, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with some good news on global lithium prices and the prospect of lower costs for batteries and electric vehicles. We next review a wide range of other international and U.S. developments with the potential to affect the financial… Read More »