The weekly market update was posted and includes the following;
The FOMC met last week and of course hiked rates to a new range of 1.00%-1.25%. The move was widely expected, built into Fed Funds futures pricing but seems to be widely derided as well. Barron’s made the argument that the policy group is underestimating the downward pressure on prices from creative destruction seen in things as mundane as unlimited data plans getting cheaper and cheaper.
Please click through and read the entire update.
I was in San Diego last week to speak at the Pershing Insite Conference on asset allocation and managed to take in a Padres game. The Padres are one of my favorites (after the Red Sox of course) and I love the stadium.
On the way to San Diego I stopped at a couple of fire houses for some pictures including Congress, AZ.
And Imperial County, CA in Palo Verde