Research & News
Daily Comment (November 17, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment begins with a discussion about why countries are ok with tight fiscal and monetary policy even when their economies are barreling toward recession. Next, we review what a possible reprieve in geopolitical tensions could mean for commodities. Finally,… Read More »
Weekly Energy Update (November 17, 2022)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF (The Weekly Energy Update will not be published next week due to Thanksgiving. The report will return on December 1.) Crude oil prices appear to be building in a base in the mid-$80s. (Source: Barchart.com) Crude oil inventories fell 5.4 mb compared to a… Read More »
Daily Comment (November 16, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning. Recently, the dollar has been the key indicator of the direction of financial and commodity markets. A stronger dollar usually signals weaker financial and commodity markets, while dollar weakness indicates the opposite. This morning, the dollar is weaker but there… Read More »
Daily Comment (November 15, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning to all those eight billion out there (that are growing older, btw)! Equities are trending higher this morning, interest rates are falling, and the dollar is lower. The driving factor behind the rally is primarily the meeting between President Biden… Read More »
Daily Comment (November 14, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Our Comment today opens with an update on the Russia-Ukraine war, including a discussion of what comes next following Ukraine’s dramatic recapture of the southern city of Kherson late last week. We next review a wide range of other international and U.S.… Read More »
Asset Allocation Bi-Weekly – The Impossible Trinity (November 14, 2022)
by the Asset Allocation Committee | PDF The U.S. Dollar Index hit a 20-year high in September as the greenback gained against other global currencies. The climb in the U.S. dollar (USD) began in the post-pandemic recovery. Investors flocked to the greenback for safety as the U.S. economy outgrew its peers in the OECD. Aggressive… Read More »
Daily Comment (November 11, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Happy Veterans Day! Today’s Comment begins with our view on the market’s reaction to the positive CPI report. Next, we discuss how a moderation in Fed policy could impact the dollar. The report ends with a review of recent developments that may… Read More »
Daily Comment (November 10, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s Comment begins with a quick observation on the market action following the CPI data. Next is our take on the midterm election results. Then, we point out the recent slowdown in the movement toward deglobalization. Lastly, we give an… Read More »
Weekly Energy Update (November 10, 2022)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices appear to be building in a base in the mid-$80s. (Source: Barchart.com) Crude oil inventories rose 3.9 mb compared to a 0.3 mb build forecast. The SPR declined 3.6 mb, meaning the net build was 0.3 mb. In the details, U.S.… Read More »