Market Update

Stocks continue to climb steadily. The effort has the S&P 500 at its best level since 2008. Amid the bullish bias the Volatility Index, often euphemistically referred to as the Fear Gauge, has extended its descent so that it is down more than 5% and near its 52-week low. With stocks up and volatility down Treasuries have come under increased selling pressure, such that the yield on the benchmark 10-year Note is now up to nearly 2.10%, or its highest level since January.

Market Update