John Kerry tossed out a throw-away line and low and behold the Russians picked it up. Our boy suggested that the Syrians turn in their WMDs remarking that there was no chance of that happening, when up jumps the Russians AND the Syrians saying, "splendid idea old boy, let's make it happen" and suddenly things are looking up in the Middle East. Nobels all around. Of course, nothing has happened yet but...and in the mean time up goes the Dow 140 but that pesky 10 year keeps creeping along closing at 2.92 today.
While we were on the road Friday, the jobs number came out. There was silence for a bit but in the end the reality of a truly lousy report hit home but with little effect on markets. I suppose it is a good thing when markets ignore bad news and seemingly over-react to anything that appears positive but that is what seems to be occurring. Then again, this Kabuki has been going on for so long that the collective senses seemed to be dulled to the point where only only one issue at a time can be considered. Syria is now front and center and probably should be; people dying are more important than people going broke.
Anyway, let's see where this thing goes tomorrow. I've been short on prediction lately.
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