For hedge funds. The Investment Committee is ready to go. Halftime report starts right now. Welcome. Good to have you back with us on this friday. We have a super sized Investment Committee, josh brown, jon fortt, steve wise, meghan shoe is here, kate moore, also with us today, deproveco lake owes. Lets win with the market stocks as we know by now are lower. It is the move in key areas like bonds that we are watching very closely today. Kate moore, ten year hits 145. The ten i dont remember keeled down 30 to date 30 year yield record low is this a sign that a Tipping Point for stocks is in fact closer i dont think so many things have been affecting the bond market. The liquidity push from Central Banks into the bond market i dont think we should take too much signal from yields today and say at this point we are at an inflection and that equity markets have tosell off as a result everyone is looking for an excuse there is a lot of uncertainty, a lot of anxiety about the move we have ha
Assuming im reading that. The portion of the cash they hold and they relay more cash that they hold and its probably not calculated. Its not the notion. This is causing confusion. Those are my questions. Any further questions. This is not an action item. Public comment. Just one question last year . The motion would be recommendation with approve of july. We made our First Investment in october. We asked you to bring it back a second time. July was the second time. It was originally presented in april. Thank you. Sorry commissioners. In the past, the only need treat Asset Classes and they are stock bonds and real estate. Go back 100 years and they have averages seven and a half to 11 for the past 100 years. What they didnt tell you when it was stock and bonds let me give you year to date on the total bonds index year to date returns, total bond index 8. 77 . Then i would like to give you the returns of the s p 500 500 for the past 10 years. 13. 78 . And 6060 and index and 6440. Year to
Items. Ill make the standard order of Public Comment and instructions when we get to Public Comment at 3 30. Do we need order to go into closed session. Public comments . Seeing none, if someone wouldnt mind closing the doors. Ill turn the flor over to mr. Coker of the eight items that were listed on the closed session item there shall only be seven. With the matrix would be number seven we need a motion to cover the attorneyclient privilege as we go into closed session is there such a motion so moved second. All those in favor say aye. Public comment. All those in favor say aye. Aye. So, im going to read the motion approved by the board in regards to gregory latman versus the retirement board. The motion that was approved reads as follows set aside the hear offices november 1st, 2019 denying the application in march 2017 denying the petition for the hearing and remand the case in retirement system staff. Remand the case of the office of administrative hearings foray signment to a hear
He also gave a timeline of yesterdays deadly accident. Of the information we know so far, that the helicopter departed with the pilot and one passenger from Westchester County yesterday about 11 30 a. M. It landed in manhattan about 11 45 a. M. The passenger disembarked, the pilot waited at the 34th street helipad until about 1 30 when he departed for his destination in new jersey. The helicopter crashed on the roof about 1 40 p. M. Mark the pilot was the sole occupant of the helicopter and was killed when it hit the roof of 787 7th avenue in fog and rain. Investigations top concerns will be to determine why the pilot was flying in low visibility conditions. Even though the Supreme Court has yet to decide whether a Citizenship Question should be included index years census questionnaire, the u. S. Census bureau is preparing for either outcome. Bureau officials said today they are beginning a test to see how people respond to the questionnaire, depending on whether the Citizenship Quest
Xpectations. Still, a majority of the committee were clearly in favor of the rate hike that the fed went ahead within december, and the majority of the committee are still expressing some confidence that inflation in the mediumterm is going to move back to 2 . But there is a sense that confidence in that is slipping a bit. That matches up with the feds forecast, the dots that we saw last month. The median for rate hike projections asked year is three, but their worst next year is three, but there were Six Committee members below that meeting. Ledave a more hawkish group by people like Loretta Mester in cleveland, and they are more concerned about a severe undershoot of unemployment in 2018, possibly leading to a bump in inflation. And here is another interesting quote i found in the minutes. Participants discussed several couldthat, if realized, result in a steeper path of increases in the target rate. They mentioned those risks include the economy expanding well beyond its maximum sus