Research & News
Weekly Energy Update (October 6, 2022)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices remain in a downtrend. (Source: Barchart.com) Crude oil inventories fell 1.4 mb compared to a 2.1 mb build forecast. The SPR declined 6.2 mb, meaning the net draw was 7.6 mb. In the details, U.S. crude oil production was steady at… Read More »
Asset Allocation Bi-Weekly – The Gold Paradox (October 3, 2022)
by the Asset Allocation Committee | PDF Gold prices have been weak in recent months despite high levels of inflation. Gold is often considered an inflation hedge, and so the lack of strength is puzzling to many investors. In this report, we will take a look at gold and try to explain why prices have… Read More »
Weekly Energy Update (September 29, 2022)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices remain under pressure due to recession fears. (Source: Barchart.com) Crude oil inventories fell 0.2 mb compared to a 2.0 mb build forecast. The SPR declined 4.6 mb, meaning the net draw was 4.8 mb. In the details, U.S. crude oil production… Read More »
Bi-Weekly Geopolitical Report – Updates on Russia-Ukraine and Armenia-Azerbaijan (September 26, 2022)
by Patrick Fearon-Hernandez, CFA, and Bill O’Grady | PDF September has been full of dramatic developments in Russia’s war against Ukraine and in the broader geopolitics of the region. Indeed, now that we’re into autumn and Russia and Ukraine are both trying to improve their positions ahead of winter, it may be a good time… Read More »
Weekly Energy Update (September 22, 2022)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices remain under pressure on recession fears. (Source: Barchart.com) Crude oil inventories rose 1.1 mb compared to a 1.9 mb build forecast. The SPR declined 6.9 mb, meaning the net draw was 5.8 mb. In the details, U.S. crude oil production was… Read More »
Asset Allocation Bi-Weekly – The Federal Reserve’s Big Policy Mistake (September 19, 2022)
by the Asset Allocation Committee | PDF If you look at how stocks and other risk assets have lost value since Fed Chair Powell’s short, hawkish speech at Jackson Hole last month, it’s clear he has succeeded in resetting expectations for monetary policy. Investors now seem to accept that the Fed plans to hike interest… Read More »