Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets.

Welcome to DC today this Tuesday, April the 2nd, in what ended up being a second down day to start off April

in the second quarter. Yesterday, I thought maybe it was just April Fool's. It turns out

it's going to have some follow-through. But the market was off the lows for the day. We closed

down 396 on the Dow.

Really what drove this is rates are at the higher end of their range, the 10 years trading

at about 436.

It was up three basis points on the day, but that was after it rose 12 basis points

yesterday.

And so the market's just in risk

assets are repricing some higher interest rates. But what's behind it isn't necessarily bad.

It's, yeah, some inflation numbers have remained in the, you know, high twos or low threes,

but are definitely moving in the red direction. But it's positive economic growth

and labor strength, and those things aren't bad if we end up with repricing because we're going to

have a little higher interest rates the remainder of the year. That doesn't frighten me too much,

per se. But we had yesterday, again, positive manufacturing data that was good for economic news.

We had today some positive numbers out of job openings.

They were the same.

It was $8.8 million this month, which was really for February.

And then we had about the same exact number for the month before

in January. So those are good numbers. It's a healthy amount of job openings. That's a good

sign for the employment market. It's down from 12 million in 2022, which was the peak. So

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