Lauren goodwin, senior director of multiasset mfrl strategy. Lauren, good to see you. Good to be here thanks for having me, mike want to go back to just about a month ago right before the previous cpi report, right july 12th. The s p 500 within 1 of where it is right now and the 10year treasury yield at 4 where it is right now. When we got it, it was a bit of a kickstart for the late july rally and now weve given it back what is the status right now in your mind of the landing and the economic scenario and how much of that the market can benefit from or potentially have the market learned pretty good information from the last Inflation Report from june that we saw in july which was the disinflationary process has moved from an early stage to a more stable one and that is one where the fed is not done hiking and investors can be excited about the potential for a soft landing. I think its a little bit of a false start because until unemployment claims start durably rising, that narrative
[background noises] good afternoon everyone. You look like a great crowd here this afternoon. Before we even start give yourselves a big round of applause for coming to learn more about closing the wealth gap in diversity and inclusion. We have some wonderful panelist with us this afternoon. I am so pleased to be here today and honored to be hosting this panel on Financial Services closing the wealth gap and providing access to capitol my name is maxine waters. [cheering] formerly chair of the Financial Services committee of the house of representatives and now the ranking member. Still trying to carry on the work that we were doing as a chair. As you know after the recent election they were able to get control of the house of representatives and they dismantled our subcommittee that i had created on diversity and inclusion. But we are going to talk about what it means to have this wealth gap. You are going to talk to some people who are dealing with clothing this wealth gap have to cl
[background noises] good afternoon everyone. You look like a great crowd here this afternoon. Before we even start give yourselves a big round of applause for coming to learn more about closing the wealth gap in diversity and inclusion. We have some wonderful panelist with us this afternoon. I am so pleased to be here today and honored to be hosting this panel on Financial Services closing the wealth gap and providing access to capitol my name is maxine waters. [cheering] formerly chair of the Financial Services committee of the house of representatives and now the ranking member. Still trying to carry on the work that we were doing as a chair. As you know after the recent election they were able to get control of the house of representatives and they dismantled our subcommittee that i had created on diversity and inclusion. But we are going to talk about what it means to have this wealth gap. You are going to talk to some people who are dealing with clothing this wealth gap have to cl
Awesome. With that, well move into fiscal 2223ocoh Fund Annual Report and i believe ill turn it over to ivy. Ivy, if you would. We dont need to do roll call . Okay. Let me actuallyokay. So, good afternoon committee. As you know, we publish our fiscal year 2223 annual report yesterday, so im going to talk about how to navigate the site and some of the key take aways from the report we did. So, just to start, the Controllers Office is responsible for the administration of the our city our home oversight fund, and so as part of that responsibility we report on a few things, specifically the [indiscernible] and impact of the fund. Okay. So used to watching people up here. Okay. So, yeah, as i said, the Controllers Office is responsible for reporting on the use of the impact of the fund and so thats what is laid out here in the fiscal year 2223 annual report. Some of the key take aways are how the city budgeted and expanded the funds over a three year period, and we go into depth on expendi
The s p down. 20 . The nasdaq up slightly up. 1 . The treasury market was having. Ism manufacturing numbers came out that were showing growth for the first time in a year and a half. You would think that is good news. It pushed back expectations for rate cuts. You can see the tenyear note at 4. 33. The two hyear note at 4. 71. Yields moved up to the highest level in a couple of weeks. That manufacturing data was a surprise. That was 4. 34. Yeah. 1. 9. It was 4. 20 yesterday. 14 basis points. It was on the stronger than expected ism. You add that together with the higher inflation data with the pce numbers on friday and the comments from jay powell and Christopher Waller last week and all of it has people thinking that june rate cut may not happen. The fed futures fell below Roger Ferguson said it over and over again. He has been our accurate barometer overall of it. We were at six and settle for five. Okay. Four would be good. We decided were going to do three. It could be one or two.