Jack Lew, the U.S. Treasury Secretary, said this morning that our domestic economy has “turned the corner”, citing sustainable growth due to healthy business activity and a robust jobs market. I definitely see that here in our local market. Abroad, China is seeing its trade performance slip and Greece is rejecting bailout assistance from the EU. On the news and not the commentary, Stocks are down and Bonds are up–though Mortgage Bonds are definitely in a mini down trend (see graph) putting upward pressure on interest rates.
