March brought more volatility to the markets. The major stock indices average was down 1.6% for the month and is up just 0.9% year to date. Technology stocks stumbled last month while small company stocks outperformed the rest of the market. Technology stocks have outperformed the market over the past 12 years creating another bubble, more like the bubble in the 1920s than the 1990s.
This season opens as it did last year. Very slowly. Robins have finally returned and snowdrops are in bloom but daffodils here will burst their color only later this month. Hungry rabbits stripped the bark from a favorite bush while the snow was high. As we watched, a stray cat discovered their hiding place under an evergreen and the rabbits made a back door escape. They seem to have moved out completely. Dear as bunnies are, we bless the scary cat.