After the fake out tumble last week based upon what is kind of non news the equity markets have gone nuts today.
The weird thing is that interest rates have barely moved higher–to 2.85% from 2.83%. It would be expected that with stocks flying up near 700 points that the 10 year would be close to 2.90%, but obviously not.
Oh well we can live with low volatility interest rates as it holds income securities flat. Although we like it, we always have to wonder what issue is out there that is causing this non reaction to sharply higher stock prices. We are always leery–trying to look deeper.