But here's what the Cyprus news is doing:
NEW YORK, March 19 (Reuters) - U.S. Treasuries prices climbed on Tuesday as a plan in Cyprus to tax bank accounts to help pay for a bailout unraveled, creating uncertainty about the island country's financial future and reviving fears about the stability of the euro zone.
Benchmark yields hit a two-week low. The Cypriot parliament overwhelmingly rejected a proposed levy on bank deposits, a proposal that had sent investors dumping stocks and scurrying for safe havens this week. The rejection by Cyprus's parliament of the levy brings the country, one of the euro zone's smaller members, to the brink of financial collapse. Treasuries are being dogged by contagion fears, said Jason Rogan, managing director in Treasuries trading at Guggenheim Partners in New York. "There are some people saying it could occur in Italy and Spain, that is really where the fear is building and why Treasuries are reacting the way they are," he said. Robert Tipp, chief investment strategist for Prudential Fixed Income, said, "It's pretty much wide open on the rumor mill for Cyprus right now. "People are at a loss. There are a lot of factors in play," he said, calling the situation a "jump ball" that could go in many possible directions.
It really doesn't take much for the so-called recovery to get put on hold.
We heard how things had turned around in the first quarter in both 2011 and 2012.
Until the economy slowed back down to a crawl both years.
Now we have sequestration and this Eurozone flare-up.
Be interesting to see how things go from here.
Wouldn't wanna bet my Spring Break on new highs for the Dow now.