Research & News
Daily Comment (January 19, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Good morning! Today’s Comment begins with the market’s reaction to Wednesday’s economic data. Next, we discuss why central banks are now pushing for smaller rate hikes. We end the report with our thoughts about the recent developments in tech and crypto. A… Read More »
Daily Comment (January 18, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with an upward revision in the International Energy Agency’s forecast for global oil demand this year, which is giving a boost to oil prices so far this morning. We next review a wide range of other international and… Read More »
Asset Allocation Bi-Weekly – The Master of Surprise (January 17, 2023)
by the Asset Allocation Committee | PDF [Note: The podcast that accompanies this report will be delayed until Friday, January 20.] They don’t call Haruhiko Kuroda the “Master of Surprise” for nothing. The Bank of Japan (BOJ) Governor lifted the yield cap on 10-year Japanese government bonds (JGB) by 25 bps last month. The bank… Read More »
Daily Comment (January 17, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with a slew of reports related to China and its recent shift toward supporting domestic economic growth and easing tensions with the West. We next review a wide range of other international and U.S. developments with the potential… Read More »
Daily Comment (January 13, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Good morning! Today’s Comment begins with a discussion on whether the Fed is close to ending its rate-hiking cycle. Next, we explain why changes to Japan’s controversial yield-curve-control policy pose a risk to the international financial system. The report ends with our… Read More »
Daily Comment (January 12, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Good morning! Today’s Comment begins with our thoughts on the latest Consumer Price Index report and its implications for Fed policy. Next, we discuss the impact that China’s reopening is having on markets. The report concludes with our thoughts on Germany’s response… Read More »
Weekly Energy Update (January 12, 2023)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices continue to come under pressure on worries over economic growth, although there is some evidence that prices may be basing between $72 and $82 per barrel. (Source: Barchart.com) Crude oil inventories jumped 19.0 mb compared to a 3.0 mb draw forecast. … Read More »
Daily Comment (January 11, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with an update on the Russia-Ukraine war, where a key Russian blogger has broken taboo and directly criticized President Putin for his management of the invasion. We next review a wide range of other international and U.S. developments… Read More »
Daily Comment (January 10, 2023)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EST] | PDF Our Comment today opens with the news of a potential mine shutdown that would affect global copper supplies and the increased tensions between China, Japan, and South Korea. We next review a wide range of other international and U.S. developments with the… Read More »