The excommunication given so many centuries before. So let me tell you a little bit about our speaker. E eve leplank has published five nonfiction books. Two of them are especially relevant to our period. One is american jezebel, which is for sale outside after the talk. And it tells the true story of eves ancestor, the colonial heretic and founding mother, Ann Hutchinson. The one who was finally brought back into it church and the second ancestor who will be mentioned this evening is the salem witch judge, samuel sul and that book won the 2008mous ps book award for nonfiction. A critic noted recently or i dont know when it was that laplank sees Ann Hutchinson and samuel sual not as the dark puretens many believe them to be but living presences, even models of rectitude into the 21st century. So please, welcome eve for her remarks. [ applause ] thank you, rose. And thank you to the partnership and thank you all for coming tonight. Before i start i wanted to think for a moment where we
Governments relenting to the shut down with a shortterm funding deal. Mitch mcconnell praised the decision yesterday. After three days of an unnecessary lapse in funding, a bipartisan majority has brought the Democratic Leaders extraordinary filibuster to an end and pass the bipartisan deal to reopen the federal government. As i said repeatedly over the past week, shutting down the government isnt irresponsible way to do business. Markets rally on deal. The dow, nasdaq, s p 500 all closing record territories. Half a percent of the dow up 143 points or 26,214. The nasdaq up 1 higher. Now 74 weight. Features a sporting show momentum continue. All the major indices in positive territory. Though investors up 73 points. Nasdaq up another 10 points. In europe across the board take a look at the european indices right now. Dax or three quarters of 1 in germany up 132 points. The others in positive territory. Same story in asia as the best performer they are hong kong hang seng up one and two
If you go back to say 2013 and consider the until this year, the reasons why inflation was low are not hard to understand its a combination of slack in the labor market, declines in Energy Prices and strong dollar that pulled down import price inflation. So, whats important in determining inflation Going Forward is Inflation Expectations by some by many of professional forecasters those have been rock solid we do also look at Household Expectations which have come down some. Marketbased measures of inflation compensation as we mentioned in the statement, they have declined, and they have been snabl recent months, but they have declined to levels that are low by historical standards. That might suggest that Inflation Expectations have come down, but, when cant get at clear read, there are risk built in to inflation compensation that make it impossible to extract directly with Inflation Expectations are so, you know, there is a miss this year. I cant say i can easily point to a sufficien
Im wilfred frost. Im seema mody in for sara eisen today. It is Throwback Thursday. In honor of National Bring your kid to workday, were channeling our inner child in us and throwing back to some good songs from childhood. I assume, wilfred, this is your pick. This was my top pick. Are you a lion king fan . Absolutely. You were a little critical of my choice of song it seems. I reference those songs from my teenage years. Its great. Either way, were both still children at heart. Absolutely. For now, the adult also look at t markets. Investors are greeting trumps tax plan with a certain level of skeptici skepticism. Yesterday day after spending most of the day in positive territory, the markets slumped at the close. All fell in negative territory for the day. Futures mixed. Dow jones up six points. Nasdaq up higher fractionally. The s p 500 is flat if we look at tenyear treasury note. 2. 30 . A couple pieces of Economic Data today, including pending home sales and durable goods. On the b
Really a macro call based on valuation and you have to consider the dollar as part of it. I just think yen has more potential upside. The its a pair trade, as you said, its not that im short the s p, bearish, its a relative performance. Thinks the s p could still outperform. This is like a mid year trade. Sure, if you were thinking about mean reversion and the huge gaps in valuation and performance thaend youre looking at the recent trend that shows a big reversal from what weve seen in the last few years. For contest, were overweighting em. Ive been flogging this horse for months. So its nigs to hear him agree with it. Eem is up 16. 5 year to date. This is the key to outperformance this year i think is to be in europe, even japan, nikkei looks like it wants 20,000 badly. As were talking, is breaking a level to the upside that it isnt seen since may of 2015. If you look at spy you can see a change in trend, thats coinciding with better economic news. And i genuinely think that whats go