The big news in the investing world is that the US has finally raised interest rates. As the markets have already priced in the rate rise, interest rate sensitive investments began to rally and REITs in particular had a great session in spite of an overall down market just now. The overall direction of interest rates in the US is going to be up but I expect the pace to be slower than most folks would expect because the low interest regime is good for growth and there is no risk of inflation as of this moment. The situation in China may make things worse for global growth. It seems that the downturn was largely caused by corrupt civil servants curtailing their spending in the midst of a crackdown as it may be engineered by the Communist government. Moving forward, if China can clean up their act and allow their ......