There will be a great deal of budget talk later today and so we're linking this note just to reminder readers/taxpayers that there's quite a bit of the budget that's sacrosanct despite the protestations of our political elite.
Read more . . .
Kansas City (Mo.) Firefighters' Pension System terminated Franklin Templeton from a $25 million global multisector fixed-income portfolio. The $635 million pension fund terminated the manager following a review of its overall fixed-income allocation, said Barbara Davis, retirement systems executive officer. Ms. Davis said there had also been performance issues with the portfolio.