Yield Pressure Causes Pullback

A warm welcome to WWII and Korean Veterans in our Nation’s capital. Filmed in Minneapolis on day after my DC stay. After eight straight days we get a pullback in the markets. Seemingly big moves in the majors are a non-event in my opinion. The pullback soothes the overextend short term outlook. Rates on the 10-year jumping over 3% pressure utilities, real estate and dividend payers. Excuse the verbal typo, I meant 3-month bill not 3-year. Let’s blame it on not enough coffee! Great moves last week firm the undertone from a technical perspective despite all other weight currently being thrown at it.