TEXPERS members are trustees, administrators, professional service providers, employee groups, and associations engaged or interested in managing public employee retirement systems.
TEXPERS members are trustees, administrators, professional service providers, employee groups, and associations engaged or interested in managing public employee retirement systems.
When advising our sons and daughters on how to invest for their retirement in roughly 60 years, we point them to stocks and the budding venture capital ideas of their classmates. The same advice might also hold true for perpetual institutions with a nearly infinite time horizon, no annual cash-flow requirements, and a passing interest in market volatility.
Fed watching is once again one of the markets’ favorite pastimes. Federal Reserve officials continue to signal that they would favor tapering of bond purchases in 2021, in line with recent announcements from the European Central Bank. When and how remain to be seen. With ample speculation about the Fed, unemployment, and inflation, it might be a good time for a reminder about what Fed announcements can, and cannot, tell us about the future of fixed income markets. |