Risk is still extremely high and I still believe there could be an event before the end of the year that torpedoes the market. For right now we are due to back and fill. Like March 2011, a decent move commenced but it lasted about 6 weeks. We are coming to the second half of July, its vacation time for the markets. Nothing too drastic should happen here as August is just about the slowest month of the year. But once September gets here my antenna will be out.
Treasuries dropped from almost a five-week high before Federal Reserve Chair Janet Yellen testifies to lawmakers in Washington tomorrow as investors seek clarity on the central-bank’s plans to scale back monetary stimulus and raise interest rates next year.