US stocks flying high
![US stocks flying high](http://az705044.vo.msecnd.net/20210415/spx-daily.png)
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.