Taper-Ready

(1) A good trade. (2) Jobless rate falls to 7% ahead of Fed’s schedule. (3) Whistling a different tune at the Fed. (4) From “shovel-ready” to “taper-ready.” (5) From “Good Rotation” to “Great Rotation.” (6) Record inflows into equity funds. (7) Nothing to fear but nothing to fear. (8) Lots of measures of profits and margins at record highs. (9) YRI Earned Income Proxy at record high. (10) Encouraging developments in the labor market.