Leaders and Laggards in U.S. Capital Markets

Treasury yields are range-bound, but with an upward bias. Comex gold and Nymex crude oil tested resistances, while the euro stabilizes. The Dow lags its January high, while the NASDAQ, Transports and Russell 2000 power to new cycle highs. The homebuilders rally in the face of weak housing data, while community and regional bank stocks lead the rally ignoring the increasing noncurrent loans in the banking system. Emerging markets are trying to catch up, but remain the laggards year to date. Bank Failure Friday!