We get tired of writing it, and the Street is apparently tired of hearing it. By it, we’re talking about economic data which is beyond belief. This morning, it means initial jobless claims supposedly dropping to 187k, the lowest since September 1969.

The skeptics and the hawks agree – this is not good for equities.

Combine it with sharply higher oil and gas prices…

…it’s no surprise that the 10Y has pushed to new highs, topping our 4.698 target and approaching our 4.755 target.

Don’t look now, but DXY is approaching new highs.