Some interesting developments emerged from last week's bond- and stock-market behavior. And from the week's key economic data, too. If coming events do cast a shadow in advance of their arrival, then it is quite possiblelast week saw some important shadows being cast on the landscape.
It seems to me that stocks are about ready to show -- in an unambiguous manner -- that we remain in a secular bear market. In the process, the equity market will confirm that "go away in May," at least in May of 2005, was not a bad idea. In addition, though, we may now have the makings of a new cyclical bear market -- in bonds, of all things and believe it or not! Continue to Gillespie Research for the balance of the essay: http://www.gillespieresearch.com/cgi-bin/s/article/id=576