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 Wednesday edition of the D.C. today. We are through the midway point of the week.

A very, very choppy day in the market. And you may not totally see it at the Dow because the Dow is only down 39 points.

But I mean, it was literally up down, up, up, down throughout the day. Not violently up and violently down, but I mean, just a lot of choppiness.

It was clear the market couldn't really make its mind up what it wanted to do.

Now, the NASDAQ was down 1.5%.

So it had a more sizable down day, but that's pretty small compared to how much it's been moving higher as of late.

The S&P was in between there, down 83 basis points, so again, a little more weighted

with the NASDAQ. The thing is, is that the stuff that held the market together, meaning

the only two sectors that were up today, were in order utilities, which was up 0.87%, and then

consumer staples.

And I believe that healthcare was barely down.

Actually, I'll look at that as we're going here.

Healthcare was third place, but it was basically down just a tiny smidge.

That's what I thought.

So, you know, you had one of those classic days where it's very easy to parse the data where all

the defensive sectors were the better performing ones. Energy was down a little over 2%, and you

had your normal cast of characters down as well. There were higher beta type sectors in the market.

However, the 10-year bond yield was down another 11 basis points. So you're literally

talking now about a 3.69% tenure, which is really quite amazing, down from that high it had

reached well into the fours just over a week ago.

So it's been a rally over the last five days in the bond market that I have not seen in a long time.

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