Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio

and dividends in your understanding of economic life.

Hello and welcome to another D.C. today. I brought to you this Wednesday. We're through the

midpoint of the week and kind of an odd day in

markets. Let me just start, get the market stuff out of the way and then I have a few other

comments I want to make. Futures were down last night and into the morning and the market

opened down 250 points. And at one point, it was down not quite 450 points. So again, compared to the huge rally of Monday, Tuesday, it wasn't much, but it was down a decent amount. And then it rallied all the way back and actually at one point was up nearly 150 points. Total spread between the low

and the high of the day was about 568 points in the Dow. That's a big deal of internal volatility.

And then the Dow closed down just 40 points. And so all that intraday vol and really not not a lot show for it up or down.

So Dow was down 14 basis points. The S&P was down 0.2%. The NASDAQ was down 0.25%.

One comment I want to make, the 10-year treasury yield was up, 13 basis points that had been coming down,

I think it was four of the last five days, and closed today at 3.75%.

13 basis points in a day, moving yields higher, bonds lower is a big deal. And I think you could

argue that a 13 basis point move higher in the 10 year and the

market barely moving is maybe a bullish sign. I mean, the market has been so correlated to bond

yields. And if indeed it is now in a position to shrug off bond volatility to some degree.

That could prove bullish for equities.

Certainly, nothing would be more bullish for equities than just an actual downward

movement in bond yields.

So we continue to watch that and believe that to be the most important correlation in the

market.

Energy was, again, the top performing sector was up 2.06% today.

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