US stocks flying high
What a chart this is.
The S&P 500 stumbled in March but (as the seasonal trend predicted), April has been sensational. Month-to-date the index is up 4.9% with the Nasdaq up 5.9%.
The stock market is getting a lift today from positive economic data, but mostly from falling Treasury yields. US 10s are down 9 bps today to 1.54%. Zero Hedge has a good look at why that's happening, which boils down to position squaring and more of a wait-and-see attitude towards inflation.
