The stock market has been closely connected to the bond market in the last two weeks, and today's stabilizing interest rates is probably the No. 1 reason behind the gains.
Just as the bond market and Europe has priced in what this tragedy means ... so too will the stock market. The real question is what happens at 10:30 (a.m. ET).
Speaking of financial markets as a whole --stocks, bonds and the dollar -- 'volatile' is not strong enough a word to describe them.
As the transition from the bond business to the stock business takes place, the stock business needs to recover.
There's been a great deal of turmoil, ... There's widespread bond market pessimism and at the other side of the equation, there's too much stock market optimism.