We saw a lot of strength in the manufacturing sector in the NAPM report. That's why you saw bond yields rise today.

Europe is clearly showing continued signs of strength, and the ECB is responding to that. There is a chance yields rise from here.

Europe is clearly showing continued signs of strength and the ECB is responding to that. There is a chance yields rise from here.

The latest data - including the improvement in manufacturing activity and current strength of the housing market - has increased the odds that the eventual next move in interest rates will be up.

We're seeing improvements in stock market investments, the manufacturing industry, new business start-ups and overall economic strength.

We have reallocated out of bonds. We got a little bit nervous back in December. However, now that bond yields have gotten back to where they are and stock price are where they are, I think you're going to take a real look at bonds and maybe take some money off the table.