Research & News
Bi-Weekly Geopolitical Report – The 2023 Mid-Year Geopolitical Outlook: The Polycrisis (July 10, 2023)
Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF As is our custom, we update our geopolitical outlook for the remainder of the year as the first half comes to a close. This report is less a series of predictions as it is a list of potential geopolitical issues that we believe will dominate… Read More »
Weekly Energy Update (July 6, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Despite OPEC+ promises to cut production, oil remains in a $67 to $74 per barrel trading range. Commercial crude oil inventories fell 1.5 mb, which was on forecast. The SPR fell 1.5 mb, putting the total draw at 3.0 mb. In the details, U.S.… Read More »
Asset Allocation Bi-Weekly – The Green Shoots of Re-Industrialization (July 3, 2023)
by the Asset Allocation Committee | PDF In a little-noticed report last month, total construction spending in April was up a modest 6.1% from one year earlier, but private nonresidential construction spending was up a whopping 30.2%. That marked the fourth straight month in which private, nonresidential construction, a proxy for commercial construction, was up… Read More »
Weekly Energy Update (June 29, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices may be establishing a new trading range between $67 and $75 per barrel. Commercial crude oil inventories fell 9.6 mb when compared to the forecast draw of 1.3 mb. The SPR fell 1.4 mb, putting the total draw at 11.0 mb. In… Read More »
Bi-Weekly Geopolitical Report – Distinguishing My Wife From a Hat, an AI Story (June 26, 2023)
Thomas Wash | PDF In his book, The Man Who Mistook His Wife for a Hat and Other Clinical Tales, Oliver Sacks, a neurologist, details his experience with patients suffering from varying neurological disorders. In one such case, he dealt with a man who had lost the ability to recognize faces. The patient was a… Read More »
Weekly Energy Update (June 22, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices may be establishing a new trading range between $67 and $75 per barrel. (Source: Barchart.com) Commercial crude oil inventories fell 3.8 mb when compared to the forecast build of 0.5 mb. The SPR fell 1.7 mb, putting the total draw at 5.6… Read More »