Early yesterday morning all thought the markets would be down because of Friday’s poor jobs data.  The markets did open lower only to stage a considerable advance following NY Fed President Dudley’s remarks that the pace of interest rate increases is likely to be “shallow”...

For many, I included, the first quarter was difficult.  It is now very apparent the only manner to generate returns is via closet indexing.  As noted several times, I believe today is analogous to 1999-2000 where performance was driven by something .com or the four...

Equities closed considerably lower as monies began to exit the momentum names, perhaps the result of the rising dollar that may hurt profits.  Treasuries also declined in price even though the economic data was weaker than expected....

Relatively speaking yesterday was a quiet day.   This was the first day in eight equities did not close 100 points higher or lower.  Treasuries were essentially unchanged.  Oil advanced however this was perhaps the result of a weaker dollar....