June 2024 Newsletter
Q: When does a joke become a dad joke?
A: When it becomes apparent.
Friends,
June 1, 2, and 6, 2024 are my 17th wedding anniversaries to my wife Amy. She is a genius. We just celebrated at the Almondy Inn in Newport, RI.
What? I never told you about our three weddings? We couldn’t agree on where to get married. I wanted a church, Amy wanted outside. So Friday, June 1, 2007 we got married at St. Mark Church in Stratford, CT with just our immediate families. Then Saturday, June 2, 2007 we had a huge party on the lawn of Boothe Park in Stratford and were married by a justice of the peace with 283 of our closest friends and family in attendance. Then on our honeymoon in Rome, we were surprised by a priest that we scheduled a lunch with and he did a wedding ceremony with just the two of us right in a city street in Rome.
We also celebrate Father’s Day in June. So Happy Father’s Day, happy graduation and happy June birthdays to everyone who falls in these categories.
Kind Regards,
Michael Antonini
What’s New
Inflation Delays Rate Cuts
Pullbacks are to be expected in any bull market.
From a late-March peak in the S&P 500 through the third week of April, the broad-based index shed 5.5% of its value amid anxieties that three expected rate cuts later in the year were being pared back or were completely off the table.
In some corners, analysts and investors were fretting that the Fed might actually begin raising interest rates. The reason is obvious: Inflation has been misbehaving since the year began.
For all practical purposes, Fed. Chief Jerome Powell shut the door on any rate hikes and seemed to go out of his way to squash any talk that the Fed was even informally chatting about rate hikes behind closed doors.
Investors viewed his comments favorably. Aided by rising profits, stocks began to creep back to the late March high.
