I see that mortgage rates are up 79 basis points (more than 3/4 of a point) in just a couple of weeks, imperiling a mess of refinancings. At the same time, I'm sure you've noticed that gasoline has gone up quite sharply, and apparently crude oil topped $72 a barrel yesterday. Meanwhile, on the black swan front, the World Health Organization has declared a swine flu pandemic. And since the S&P 500 hit a low of 666 in March, it's up around 42%. Banks in particular--toxic assets notwithstanding--have been raising capital.
So--feel like buying stocks?
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