Yeah.
I grew up in a Leave It to Beaver family (not really) and city in SW Ohio starting 76y ago, middle-class if not upper-middle-class, but thank goodness had liberally educated, progressive, allocentric parents who knew what freedom is for and what our obligations are to others.
They pushed hard for and helped get enacted fair housing legislation, among other local initiatives (religiously though not color-integrating the country club, bringing the MJQ to the local symphony, active in LWV, Planned Parenthood, all that sort of thing).
Many of my friends' families were not like that, though lots were (through church and local university).
Now, in a true black comedy piece of history, I find out that where we moved to, on the north side, in the early 1950s had begun its life (long before my parents arrived) as a restricted redlining model for the entire bleeding country.
https://www.pbs.org/video/redlining-harry-kissel-ozarwf/
FDR's admin adopted of Harry Kissell's recommendations. Oi!
Off-topic,
@msf
>> remember that cars were much lighter then and the engines weren't sitting over the front axle.
Not clear what cars are being thought of here, but every Chevy (and all the rest) I drove from the 1950s and 1960s had exactly that distribution:
https://conceptbunny.com/wp-content/uploads/2021/01/1957-Chevrolet-Bel-Air.gif

+1.
Mass. College of Liberal Arts used to be known as the North Adams State Teachers' College, before everything shifted and got fancified and dandied-up. Special names for lovely wonderful institutions. Because we are ALL special and wonderful and glorious and super-dooper and fabulous. How DARE you tell me I have AVERAGE ability????
"How come, in former lifetimes, everybody's somebody famous?"
-----Crash Davis.

Yes indeed, there was red-lining. And we never heard it referred to. It was a dirty little secret. Now there's no more redlining, and the crime is ALL OVER the city. What have we fixed?

. In western New England, Jim Crow was a thing that never entered our minds.
That was the problem.
Powerful maps: Groundbreaking report exposes ‘redlining’ in Pittsfield’s past that kept Black citizens in poverty cycle
'Jim Crow in everything but name'
By Heather Bellow, The Berkshire Eagle April 16, 2022

In 1956, the situation had only worsened.
...
It wasn’t Jim Crow laws that helped lock a poverty cycle in place — those were illegal in Massachusetts.
It was a [redlining] map of Pittsfield.
...
The HOLC, as it is known, made color-coded maps that divided neighborhoods in U.S. cities by creditworthiness and risk for lenders.
It coded the “hazardous” neighborhoods in red, subjecting those residents to a lack of investment that would continue to plague future generations and segregate a city to this day.
The authors of a groundbreaking report, “Redlining in Pittsfield: A case study,” lay all of this out, focusing on the West Side neighborhood, and revealing that the Berkshires, like the rest of the Northeast, had its own way of keeping people of color down.
“We didn’t have Jim Crow laws but we had Jim Crow in everything but name,” said Kamaar Taliaferro, an NAACP Berkshire County Branch officer and community leader specializing in housing, and one of the report’s leading authors.
...
“Many folks don’t think of Berkshire County as a Detroit or a Chicago,” [co-author Frances Jones-Sneed, Prof. Emeritus, Mass. College of Liberal Arts] said of what the report calls a “false distance.”

+1….(also for Grandeur)…..please :)

@hank
I can always count on you to make sense of it. Thank you. So... currency exchange. I'd not thought of that. Yes, NHYDY was up over 30% last year at one point for me. Back down to more like 14% now. I'm sticking with it. I've looked at everything and anything I can find about that company. As much as one can have faith in any of this investment stuff, I think they know how to steer the ship. Sadly, there have been recent layoffs. Expecting reduced demand. Lovely dividend, though, too. Fwd. Div. yield = 7.63%. Trailing div. yield = 9.47%. Payout ratio = 44.23%.

+1.

Our local bank is still only paying .01 on our checking account, so we only keep a few thousand there as we can quickly transfer cash from PRTXX if needed.

https://www.sec.gov/Archives/edgar/data/874964/000093041323000476/c105767_497.htm
497 1 c105767_497.htm
THE LAZARD FUNDS, INC.
Lazard Emerging Market Debt Portfolio
Supplement to Current Summary Prospectus and Prospectus
The Board of Directors of The Lazard Funds, Inc. (the “Fund”) has approved the liquidation of Lazard Emerging Market Debt Portfolio (the “Portfolio”).
No further investments are being accepted into the Portfolio, except for investments by certain brokers or other financial intermediaries or employee benefit or retirement plans (acting on behalf of their clients or participants) with pre-existing investments in the Portfolio pursuant to an agreement or other arrangement with the Fund, the Distributor or another agent of the Fund regarding Portfolio investments. Promptly upon completion of liquidation of the Portfolio’s investments, the Portfolio will redeem all its outstanding shares by distribution of its assets to shareholders in amounts equal to the net asset value of each shareholder’s Portfolio investment. It is anticipated that the Portfolio’s assets will be distributed to shareholders on or about April 25, 2023.
Prior to the liquidation of the Portfolio, depending on the arrangements of any broker or other financial intermediary associated with your account through which Portfolio shares are held, the Fund’s exchange privilege may allow you to exchange shares of the Portfolio for shares of the same Class of another series of the Fund in an identically registered account. Please see the section of the Prospectus entitled “Shareholder Information—Investor Services—Exchange Privilege” for more information.
Dated: February 24, 2023

https://www.sec.gov/Archives/edgar/data/874964/000093041323000479/c105769_497.htm
497 1 c105769_497.htm
THE LAZARD FUNDS, INC.
Lazard Emerging Markets Strategic Equity Portfolio
Supplement to Current Summary Prospectus and Prospectus
The Board of Directors of The Lazard Funds, Inc. (the “Fund”) has approved a Plan of Reorganization (the “Plan”) with respect to Lazard Emerging Markets Strategic Equity Portfolio (the “Acquired Portfolio”) and Lazard Emerging Markets Core Equity Portfolio (the “Acquiring Portfolio”), each a series of the Fund. The Plan provides for the transfer of all of the Acquired Portfolio’s assets and liabilities to the Acquiring Portfolio in a tax-free exchange solely for Institutional Shares and Open Shares of the Acquiring Portfolio, the distribution of such shares of the Acquiring Portfolio to Acquired Portfolio shareholders and the subsequent termination of the Acquired Portfolio (the “Reorganization”). The Reorganization will become effective on or about June 22, 2023.
In anticipation of the Reorganization, effective on or about February 27, 2023 (the “Sales Discontinuance Date”), the Acquired Portfolio will be closed to any investments for new accounts. Shareholders of the Acquired Portfolio as of the Sales Discontinuance Date may continue to make additional purchases and to reinvest dividends and capital gains into their existing Acquired Portfolio accounts up until the time of the Reorganization.
An Information Statement/Prospectus with respect to the proposed Reorganization will be mailed to Acquired Portfolio shareholders in May 2023. The Information Statement/Prospectus will describe the Acquiring Portfolio and other matters. Investors may obtain a free copy of the Prospectus of the Acquiring Portfolio at www.lazardassetmanagement.com/us/en_us/funds or by calling (800) 823-6300.
Dated: February 24, 2023

@ Junkster. I would also take exception to your characterization that “everyone” had life like the Nelsons and the Cleavers. In 1982 I was in the very isolated fishing village of Bahia Tortuga on the west coast of Mexico. Quite by accident I met a woman from my suburban paradise. I gushed about what a great place it was to grow up back in the day and she went nuts. She let loose with a flood of bitterness and bad memories that she had been carrying with her for decades. And I bet she wasn’t the only one.

I expected to catch flak for what I said and deservedly so. I was most blessed in the 50s with an idyllic and Norman Rockwell childhood. I was in the right place at the right time in the right community with the right parents. Luck of the draw I suppose. I realize that may not have been the case for others. Some of my friends who were also blessed by being children of the 50s grew into adulthood with an assortment of problems, some drug related, others suffering a multitude of failed marriages/relationships. Unfortunately, many are now 6 feet under. The victims of the ravages of advancing age. That may have been the cause of my outburst seeing yet another old friend pass yesterday.

@ Junkster. I would also take exception to your characterization that “everyone” had life like the Nelsons and the Cleavers. In 1982 I was in the very isolated fishing village of Bahia Tortuga on the west coast of Mexico. Quite by accident I met a woman from my suburban paradise. I gushed about what a great place it was to grow up back in the day and she went nuts. She let loose with a flood of bitterness and bad memories that she had been carrying with her for decades. And I bet she wasn’t the only one.

OMG, and 19 cent gas. ..... Next-door neighbors were best friends. Everyone actually KNEW everybody....
...And now, back to our regularly scheduled programming....
6%. Well, I remember the inflation of the '70s and '80s. But I had no money invested anywhere. These days, I'm paying attention. 6% might actually result in good rates for savers--- although things have already improved on that score. The economy? BELCH.

Regarding Wally:
https://baltimoresun.com/news/bs-xpm-1993-08-01-1993213175-story.html
https://cbsnews.com/news/tony-dow-on-life-beyond-leave-it-to-beaver/

The 1950s were not good times to have cancer, or be exposed to polio, measles or mumps as there were only just beginning to have vaccines, or to get heart disease. Bacterial disease was on the run as Penicillin was widely available along with other antibiotics
Cancer chemotherapy was only beginning to be effective in the 1960s, but as late as the 80's my cousin died in six weeks from colon cancer that very likely would be halted today. I can't remember the last time I saw someone die from the first or even second heart attack, if they got to the hospital in time. Happened all the time before angioplasty.

@Junkster I'm sorry to tell you that the gold old days of the 1950s weren't so good for people who didn't look like you. Half the population, women, faced limited job, salary and education prospects because of discrimination while many in the remaining half did too if they looked, felt or believed differently from the mainstream. A number of happy couples I know today wouldn't even be allowed to walk down the street.

Why is it people always remember the lower prices from the past, the music and young love, but so rarely the horrors? Wally and the Beave weren’t the 1950s reality for many if not most people who lived back then. I doubt it was even the reality for the actors playing Wally and the Beave. Yet half the nation wants to go back. Nor is this meant to pick on you. I have bouts of nostalgia too.

You are as wrong as wrong can be here. I believe it is called while privilege now and I am suppose to feel guilty. But with just about everyone, and I mean *everyone* I grew up with in the 50s it was indeed exactly like Wally and Beaver and Ozzie and Harriet. That was the reality. It was the best of times. No horrors whatsoever. Things began changing in the 60s with Kennedy’s assassination, the British Invasion, the Vietnam War, and drugs. But what do I know, I am just some ancient relic from the past. But fortunately still enjoying life to the fullest due in part from that idyllic childhood and upbringing of the 50s.
Edit: Just thought about one horror of the 50s which fortunately didn’t impact me - pedophilic priests.

Just wonder if the Fed would act on inflation, say 6 months earlier?
At the height of the pandemic, Powell cut rate from to 0.25% while increase monthly buying of treasury bonds and later mortgage bonds. Rate hike started in March 2021 by 25 bps when they realized they were way behind to control their 2% inflation target. 6% rate suggested by Dimon would bring this economy into deep recession.

Annualized CPI, PPI, PCE were ALL higher than expected. That is BAD.
However, the (wholesale) PPI was LESS than the (retail) CPI and that is good.
The AAII Sentiment Indicator collapsed (see a nearby thread). Don't sell much when the Sentiment is very poor.
Thrust indicators from January/February remain in place until proven otherwise.
But keep an eye on SP500 200-dMA and VIX. https://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=1&mn=0&dy=0&id=p70110975086

https://www.sec.gov/Archives/edgar/data/711080/000168386323001292/f24562d1.htm
497 1 f24562d1.htm 497 SUPPLEMENT
TOUCHSTONE STRATEGIC TRUST
Touchstone Dynamic Allocation Fund
(the “Fund”)
Supplement dated February 24, 2023 to the Prospectus, Summary Prospectus and Statement of Additional Information ("SAI") dated April 29, 2022, as supplemented from time to time
IMPORTANT NOTICE REGARDING PROPOSED CHANGES TO THE FUND
Proposed Reorganization
On February 16, 2023, the Board of Trustees of the Touchstone Strategic Trust (“Trust”) approved converting the Fund into an exchange-traded fund (“ETF”) by the reorganization of the Fund into a new ETF, which upon filing and regulatory approval will be a newly-created fund in the Touchstone family of funds, (the “Reorganization”). The Fund’s shareholders will be required to approve the Reorganization. Additional information about the ETF will be available on or about March 13, 2023.
A proxy statement/prospectus containing more information regarding the Reorganization will be filed with the Securities and Exchange Commission, and once effective, will be mailed to Fund shareholders in the second quarter of 2023. A special meeting of the Fund’s shareholders is expected to be held in the third quarter of 2023 (the “Special Meeting”), at which shareholders of record of the Fund will be asked to vote on the proposal to approve the Reorganization. If the Reorganization is approved by Fund shareholders at the Special Meeting and subject to certain additional conditions, the Reorganization is expected to be completed in the fourth quarter of 2023. Expenses associated with the Reorganization will be borne by Touchstone Advisors, Inc.
* * * * *
The foregoing is not an offer to sell, nor a solicitation of an offer to buy, any shares in connection with the Reorganization, nor is it a solicitation of any proxy.
Please retain this Supplement for future reference.
TSF-54CC-TST-TSMAX-S12-2302

This article is behind a paywall. If you subscribe to Apple News, you can get access to some of them. Note that he has been calling for this for several years and he is finally got it right.

Gundlach’s status on Wall Street these days is undeniable, and he went on to dish out some advice for investors on Wednesday, arguing U.S. Treasuries may be the safe haven of choice amid a “protracted bear market” in stocks. He said that DoubleLine has incrementally increased Treasury exposure, decreased credit exposure, and upgraded the quality of its bond portfolio over the past year.
“I always say, ‘Don’t listen to what I say, look at what I do.’ And we started de-risking, if you will, in the fourth quarter of 2021,” he told Yahoo Finance, adding that he has “been preparing for a hard landing” for some time.

https://fortune.com/2023/02/23/billionaire-bond-king-jeffrey-gundlach-preparing-recession-you-need-an-umbrella/