No Pressure

Yesterday was a great day for Bonds and Stocks. Janet Yellen gave a speech in New York (you remember the disco ball in the unaltered photo) and shared her concerns about raising rates. She was more dovish yesterday than she was in the last FOMC speech. The bottom line to her remarks is that she does not see that this current economy can withstand much–if any–upward pressure in rates.  No comments from other Fed officials have been hears since then.  The probability of a rate hike in April is 0% and June is 28%