I hope my screed last week about frothy dry bulk carrier stocks persuaded you not to get into that thicket—or to sell out if you had been lured in. The group, led by Dryships, which we sold ages ago, duly crashed.
The market took Yellen remarks as hinting at a further interest rate rise in June. By responding at all, Chair Yellen reinforced her move toward greater openness at the Fed. “The days of never explain, never excuse, are over.”