Relieving Release

The first news I heard this morning was that American journalist Jill Carroll had been released. To everyone's relief, she was unharmed, and appeared to be very stable. Bush and Rice had plenty to say regarding their gratitude for her release, also. Investors thought they too could breathe a sigh of relief after Wednesday's rally. But a selloff on the bond market drove stocks lower as the 10-year note yield leapt past 4.8% to its highest level since June 2004. Its possible the Fed may have to raise rates further than expected...and this news did not make Wall Street happy. DJIA: -65.00 Nasdaq: +3.04 S&P 500: -2.64