"Wall St continues to grind higher on light volumes, with money clearly flowing from US bonds to US equities.
The entire US yield curve rising, despite the Fed’s stated intentions, is most likely a good thing as it represents a growing view that the US economic recovery is becoming self-sustaining. While that view also sees the US Dollar rally and erode a fraction of the US economy’s low currency advantage, the fact the yield curve is rising across the board is a positive signal. With capital losses in US bonds now adding up, you may well see further asset allocation from US bonds to US equities."
BBG Price at posting:
$2.39 Sentiment: LT Buy Disclosure: Held