Thoughts {09.22.16}

As expected, the Federal Reserve did not raise interest rates yesterday.  They did give an indication that there is an increased likelihood that they could raise rates later in the year, most likely December.  Stocks rallied hard on that news.  More ink has been spilled and more bytes of computer memory have been consumed on this subject then perhaps any other event in the past few weeks.  Only the break-up of Angelina Jolie and Brad Pitt perhaps garnered more information and consumed more time.

Stocks liked the result and rallied hard after the announcement.

Never-the-less there is a belief beginning to percolate in the investment community that world interest rates bottomed sometime this summer.  I've been thinking about this and plan to discuss it further in a future post.  My short take on that is that you should refinance your mortgage now if you haven't done so in the past few years.

Yesterday was Mylan Labs CEO Heather Bresch to take her grilling on Capitol Hill over the increase in prices of EpiPens.  EpiPens are devices that counter the effects of allergic reactions leading to anaphylactic shock.  Again under the theory that the worst scandals are the ones the public can easily understand, then the multi-hundred percent increase in what is basically a generic product {and a product than millions of parents rely on for their children} is probably easier for the public to grasp then what's happened over at Wells Fargo.  Mylan's issues impact children.  Not a good thing.  Really not a good thing in a political year.  Really, really not a good thing when the candidate leading in the Presidential race tried to overhaul the healthcare system when her husband was President.

Go read, "Immigration Reality Looks Nothing Like Trump Rhetoric" over at Bloomberg.

Back Monday.

*Mylan Labs is a component of several ETFs we own for clients and in personal accounts.