What About The Fed?
In February, the market experienced several record-breaking losing sessions, including two days of more than 1,000 Dow points lower as the 10-year yield approached a 3.0% yield. It’s been there since, including Friday, but the market has come to grips with this and it no longer goes crazy.
Higher yields did help the Financials (XLF) to the best performance in the S&P 500, followed by Energy (XLE) and Industrials (XLI).
Keep watching the Dow Jones Transportation (DJT) Index for validation of the economic boom and a stock market rally – it closed at an all-time high on Friday.
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