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.

Well, hello and welcome to the Tuesday edition of the D.C. Today. I hope you have been enjoying something other than wall-to-wall coverage of the DC today. I hope you have been enjoying something other than wall-to-wall

coverage of the news cycle, which you may have noticed, is quite focused on one particular

story and as best I can tell no other, which is meant that the Huskies of the University of

Connecticut have not gotten enough.

Kudos today for their national championship win.

Congratulations to the great state of Connecticut, where TBG has some of its very favorite

clients and where they now have another men's basketball championship, well deserved after

a great tournament.

In terms of markets today, it was a pretty boring day.

Bonds were up quite nicely.

Stocks were down a little bit, though it was the first down day in a while in stocks.

The Dow was down 199 points.

The S&P was actually Dow, S&P and NASDAQ were all down, basically right around 50, 55 basis points.

And so very similar percentage downside for all three of the major equity indices.

Within the S&P, utilities were the best performing sector.

It's very rare that utilities will ever be the best performing sector on a good day in the market, just as a general rule of thumb.

But when you have a few of the defensive sectors leading the way, including into positive territory, utilities were up about 50 plus basis points, then it usually means

some other less defensive and more cyclical sectors were down when it's a down day in the

market.

And that was the case today with industrials, which are down over 2% and were the worst performing

sector.

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