Presented and quorum is present. And can you call the next item. Thank you item number 2, communications. We welcome the publics participation. During Public Comment period. There will be an opportunity for general Public Comment at the meeting after closed session and an opportunity to comment on each discussion or action item on the agenda. Each comment is limited to 2 minutes. Public comment will be take place be inperson and remotely by call in. For each item the board will take the comments from people inperson and during the Public Comment time is available by calling. Public comment callin 4156550001 access code 2663 414 9768 when connected hear the meeting discussions but will be muted and listening mode added to the speaker line. Best practices are to call from a quiet location, speak clearly and slowly, and turn down your television, radio, or computer. Please noted city policies with local policies dont permit harassment and only on matter within the jurisdiction and thank y
The 10 year yield going in the other direction. A little bit of a lift in yields. 457 on the day. We will keep our eyes on that. There was a bit of a messy auction people had looked forward to. A lot of dynamics going on under the bond market. Midday movers. We will look at shares of rent the runway. It reported fourthquarter revenue and topped average analyst estimates. The for your outlook was mixed relative to wall streets expectations. Shares slid 90 in the past year through wednesdays close. We are looking at a stunning gain in that stock. Alphabet shares are climbing as investors are becoming more optimistic about its ai strategy. The companys market cap inching closer to the 2 trillion mark. Nvidia, microsoft, and apple are the only other companies that hit that milestone. Back to the economy. That is driving the story. The Producer Price index increased by the most in 11 months in march. Still below wall street estimates. We will discuss how it impacts the feds Interest Rate pa
Abigail doolittle is with us first. Abigail the bulls have it with buyers taking major averages higher modestly. The major indices are all up more than 2 10 of 1 . The s p 500 and the nasdaq are putting in record highs. Day may be short but we are looking at records and this is a continuation of what we have seen this week with all three major averages up for a weekly gain. This is the first time in three weeks. On the s p 500, not only do we have a modest gain but it is on pretty good strength relative to sectors. That 10 of the 11 s p 500 sectors are trading higher on the way. Energy is up top and the only down sector is telekom. Its a broadbased move higher. It is the holiday shortened day so not surprisingly unless an average volume, this is the average volume function in the bloomberg. Here in blue is the 20 day moving average. This is todays trading action and we are below by about 50 . We have gains but on less volume than usual. The Holiday Shopping season kicks off which inclu
Plan enters a crucial week. Can the president get a policy win before the year is out . 4 00 a. M. T 00 a. M. , if you are in london. I am tracy alloway. We are at the start of another trading week here in the uae. Let us take a look at how u. S. Markets closed on friday. It was not a bad day for u. S. Equities. With the spx closing up about five points, helped by u. S. Retailers. It was black friday in the u. S. We saw the Retail Stocks push the index up, including macys. Macys is the sixth best performer i on friday. Amazon was the second best. Let us talk about the dollar because the dollar continues to slide. Since been sliding wednesday, now at its lowest level since eight weeks. He opposite story for the euro the euro now at the strongest in about two months. It looks like germany might be able to get past the political impact we were discussing last week. Fascinating moves. Here are some other Asset Classes we have been having our eyes on. Take a look at u. S. 10 year. 34, modes
Go down when the markets go down. And private credit. We expect private credit to generate low teens, anywhere from 912 a year, highly cash, meaning most of the 912 is income, that off sets the liquidity, you have cash flow coming in as markets correct downward. We think joe, the movement you have taken to take some money out of equity markets which in the longterm is your highest growth and return asset and spreading it into other assets that have higher returns, at least higher than assumed rate but lower volatility will give you the opportunity to earn that 7. 5 with less risk of a major downturn. The numbers we developed for you that are part of the Asset Allocation assumption did indicate over the longer term, the more diversified portfolio had an expected return of just below 8 . If we take on more leverage, it will be the result of return. Theres leverage in private equity thats sort of normal. Im looking at the gross leverage amount. And probably more a higher gross exposure, b