Today's Post - https://bahnsen.co/3Q5001u

A mixed day of trading between positive and negative all morning and right into the market close with the Dow slightly higher and both the S&P 500 and Nasdaq just below fair value. Rates continue their move higher, with the 10-year up 4 bps and now at the 4.66% level. So aside from what so far has been a tougher start to the second quarter, a few things to keep in mind:

Rates and Fed futures have reset higher based just as much on stronger-than-expected good things in the economy, such as earnings growth, GDP, and employment, as they have on inflation expectations.

We are still only 4% from all-time highs in the S&P 500 when the historical intra-year drawdown is more like 14% on average.

Links mentioned in this episode: