Hey, wha happen’d? As gloomy as Friday was, Monday’s twice as rosy, as just about everything just about everywhere is getting lifted higher. The spark today, as we explain on the Markets Hub, is the news out of Europe, where banks BNP Paribas and HSBC posted good financials and manufacturing data in a number of countries showed more strength than expected.
Is that a story you expect to last? Notice the yield on the 10-year Treasury (about the only assets not rallying), still below 3%. The bond market is telling a different story from the stock market.