Good Afternoon,
There was big news from the banking sector today, as Wells Fargo said it expects record 1st quarter earnings. In addition, the New York Times says the US banking system may be in better shape than most people think. Finally, the recent decision to relax mark to market accounting is already helping financial institutions!
In other news, Initial Jobless Claims came in far better than expectations. Currently, Stocks are rocketing higher on all the good news, and Bonds continue to test a key support level. I recommend cautious floating, but will certainly let you know if a change of course is needed.
The Bond market will close early today, and both Stocks and Bonds will be closed tomorrow for the holiday weekend. I hope that you enjoy the rest of your day. If there is ever anything that I can do for you, please let me know.
Thursday, April 9, 2009
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