Sometimes the market just wants to go up, seasonally it is that time. On the technicals, the market is rebounding from an oversold condition where it declined 8% from a recent high and now is down 5%, from that high. If the bond market cooperates it is possible to capture this 5%. As we mentioned last week there is a massive short position in the 10-Year Treasury. We believe the 10-Year will trade between 4%-5% this year, it is at the upper end of the range.

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