Research & News
Daily Comment (June 6, 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. Russian troops continue to make some progress in seizing territory in Ukraine’s eastern Donbas region, but the Ukrainians are also launching some small but successful counterattacks. We next review a range… Read More »
Daily Comment (June 3, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! Today’s report begins with an update on the Russian invasion of Ukraine. Next, we discuss the latest economic and policy news, including our thoughts on recent Fed comments. Afterward, we review some international stories that could impact markets today and… Read More »
Weekly Energy Update (June 3, 2022)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Crude oil prices continue to grind higher despite reports of OPEC+ production increases and record SPR sales. (Source: Barchart.com) Crude oil inventories fell 5.1 mb compared to a 3.0 mb draw forecast. The SPR declined 5.4 mb, meaning the net draw was 10.5 mb.… Read More »
Daily Comment (June 2, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Optimism about a possible increase in Saudi oil production boosted S&P 500 futures this morning; however, relatively weak private payroll numbers have led to some moderation. Today’s report opens with an overview of the Federal Reserve Beige Book. Next, we give an… Read More »
Daily Comment (June 1, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Today, our Comment opens with an update on the Russia-Ukraine war; Russian forces continue to seize some territory in Ukraine’s eastern Donbas region, and Ukrainian forces continue staging what appears to be a tactical retreat. We next review a range of international… Read More »
Daily Comment (May 31, 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, where Russian forces continue to make progress toward their scaled-down goal of seizing all of Ukraine’s eastern Donbas region. In other major news regarding the war, the European Union has finally… Read More »
Asset Allocation Bi-Weekly – The Problem of Financial Conditions (May 31, 2022)
by the Asset Allocation Committee | PDF Among the financial pundit class, there has been a growing call to weaken financial conditions. What are financial conditions? They include credit spreads, the level of interest rates, the level of equities, the level of market volatility, the dollar’s exchange rate, etc. Weaker financial conditions mean that borrowing… Read More »
Daily Comment (May 27, 2022)
by Patrick Fearon-Hernandez, CFA, and Thomas Wash [Posted: 9:30 AM EDT] | PDF Good morning! U.S. equities continue to rally as investors no longer fear that the Fed will become more hawkish. Additionally, a drop in mortgage rates and a strong performance from retailers have boosted investor sentiment. Today’s report begins with the rising popularity… Read More »