The Market's Desire to Move Higher in the Second Half of the Year

25% of Dow transports are now at 52 week highs. That's a five standard deviation move above the mean reading, which is normally 2%. The data is showing that the economy is slowing. We trimmed equities 5% across the board 18 months ago and we haven't added it back. There's outstanding opportunity in bond market. And for someone who's not limited to one asset class, I'm taking advantage of the bond market.