Major Move Coming?

The big story in the markets is record low volatility, with the VIX dropping to a level not seen since 1993 while shares are trading at record levels. There have only been three moves in the S&Ps of 1% or more since the start of the year; based on the norm, there would have been 19. Investors have never been more complacent, according to sentiment measures.

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Just When You thought Markets Couldn’t Get Nuttier…

The stock market ripped higher again yesterday. The last couple of days, the Nasdaq, Nasdaq 100, Dow and S&P, have gapped higher with the former two making new highs. Why? Apparently because Trump’s tax plan is about to be revealed. Do we need to be reminded that Trump’s health care, extreme vetting, infrastructure and border wall initiatives have all failed? Thank goodness for Syria and North Korea, where Trump can make decisions without Congress.

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Pensions: Do You Know Where Your Retirement Is?

As you know, dear reader, I have been following the pension issue for the last year. Here are just some recent headlines: from Texas, “Without a Fix, Teacher Healthcare Fund is Empty Next Year”, from Modesto, California “City Considers Freeze on Hiring and Promotions as Pension Costs Loom”, and “Emotions Run High as Kentucky Retirement Systems Pension Hole Grows.” These stories go on and on and on.

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