The major U.S. equity indices kept their rally hats on as the second quarter has gotten off to a hot start. The Nasdaq is already up 4.9%, with the S&P 500, not too far off its heels, up 3.9%. The Dow Jones Industrial Average has gained 2.5%, while the Russell Mid Cap and Russell 2000 have gained 3% and 1%, respectively. In addition, several commodities continue to surge higher. Lumber is up nearly 12% quarter-to-date, while food and grains such as sugar, wheat, hogs and corn are all up close to mid-single digits. Moving on to Treasuries, yields have somewhat stalled out so far this quarter.

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