It is like a gulf. This is not separated in terms of politics. Actually, ill take this side. Im really not sure you may be closer to me than him this guy is a nut. Im going to need a lifeline. We could put Chris Christie in between us. Lets check on the markets this morning. You know what i didnt look at today, constitutional crisis concerns looking at the stock market, i cant see it there up 115 points on the dow jones the nasdaq up 41 treasury yields up 71. My mind is wandering the predicted volume and money is very small. I checked the odds of impeachment. They are up 60 cents odds that trump does not finish his first term or odds he does finish is 80 . At 4 00, there is a meeting. Maybe it is one of those situations you do it and hes not removed. How do you read that im no expert but saying this is a political decision. Impeachment is a political decision bringing charges is different than a case. They have an election in 2020, they may just want to wait for that i would think so.
A nice headwind if you are headed off to the west, but dont be surprised if your gas mileage drops a little bit today. The breezes at the golden gate, there its 16. Look at the temperatures at noon. 60 near the coast, and 70 around the bay and inland. Thats it. 70 and 80 by 4 00 and then back in the 50s and 60s. Enjoy the break from summer. Happy tuesday. We have light conditions. Well give our south bay viewers love with a look at highway 87 past the sap center, and you can get an idea of where you are and everybody is moving at the limit and light conditions on this tuesday morning. We will hop across town and look at 280, and again the headlights making their way up from downtown san jose, and this is the over crossing on the way to cupertino for an eightminute drive. And we will look at our traffic maps with the typical slowing out of tracy for a 33minute drive from tracy to dublin, not bad at all and it has increased since we last looked, 55 minutes from tracy into castro valley.
Painting a rosier picture of economic fundamentals. Joining us is david zervos, looking sharp with the new haircut. David, what do you make of the fact that we have bounced back pretty nicely . Yesterdays reversal and some followthrough today what does that tell you . I think the trade tensions are definitely a story summer liquidity is the story. It was a pretty aggressive 200point plus move in the s p and the interesting thing from the price action for me is the rate market. The rate market had an incredibly large move. One of the largest weve seen in a while and it really hasnt come back off that much. So while stocks have rallied back, you would have expected maybe rates would have sold off a little more, risen a little more and they havent. So this is maybe telling you more that people are getting comfortable with a fed view that is cuts are coming and probably more cuts are coming than people had been nervous about with the meeting. You know the important thing in that answer, da
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Substantially lower than that. Exactly, bryan. When we are looking at Asset Allocation longterm particularly for plans that dont have as mat tour portfolio as you do. You run an efficient frontty which is a mathematical calculation of determining the best mix of assets at each level of risk, the optimum returning portfolio. If you assume that private equity volatility was significantly lower than public markets, you would put your money in private equity. From a long term projection standpoint, we put in what is a economic risk. Now the reality if you said what do i think your portfolio will actually do, you dont experience economic volatility in private equity through time because you have valuation processes as we have seen that are lagged and reduce that volatility. We have a separate volatility forecast. This is economic volatility. We have a separate set of volatility numbers to represent accounting volatility so the forecast for your portfolio would look more like what you think