Thoughts {03.16.16}

Markets likely will flatline today ahead of the Federal Reserve's decision on interest rates.  Though no rate increase is expected today the market will want to hear about the likelihood of further increases down the road.  The June meeting is the one most flagged by the investment community for possible action on this front.  May see some fireworks after the announcement depending on what is said.

Last night's election results make it more likely than not that Donald Trump will face Hillary Clinton in the fall.  It's in the bag now for Mrs. Clinton as she crushed Mr. Sanders last night.  Trump still has some work to do but he now owns a commanding lead in the Republican delegate count.  Markets can live with a Clinton as President.  It is unclear in my mind what a Trump Presidency would do for the investor class.  In any event, polls show right now that in a head to head race Mrs. Clinton likely prevails.  A Clinton Presidency is likely the the presumed outcome now in the investment world and markets will discount this until an event or facts forces them to change their view.

Saw this the other day on States with the Highest Tax Rates.  Good Old Illinois tops this list as the most expensive state via taxes with a whopping 14.54% tax rate.  That distinction, according to the study,  is nearly 36% above the national average.  I'd note that if you live in the Chicago region your tax rate is probably higher than the state average as property taxes here are more expensive than in the rest of Illinois.  Illinois also ranks 46th in terms of the unemployment rate.  We're tied with West Virginia with only the District of Columbia, New Mexico, Alaska and Mississippi faring worse.  Did I also mention Illinois is broke.  Perhaps the last two statistics have something to do with the tax situation.  

Back tomorrow with something for the Irish in all of us.