In the currency market, the dollar was lower against the euro. Late Wednesday, the euro was trading at $1.4156 vs. $1.4032 on Tuesday.

Euro trades past 1.42…  Geithner make a promise to China…  Central Bank meetings this week…  Canada’s Fin Min, speaks… And Now… Today’s Pfennig!

My five-year old daughter has a thick mane of chestnut colored hair on her head. By the time she goes to school, it always looks perfect – but few people know about the work involved beforehand. My wife or I usually have to spend 15 minutes untangling the knots in what invariably starts out as a post-sleep bird’s nest.

We’re now in an extended bounce which could last until mid-summer. Stocks were up yesterday… the Dow rose 196 points.  What were investors thinking?

Here’s Merrill Lynch economist David Rosenberg on employment trends, the consumer and why we face a frugal future (hat tip Zero Hedge): This post-credit collapse/asset-bubble burst cycle remains an enigma, and we strongly believe that investors today who are buying stocks and selling bonds in anticipation of a sustained reflation trade are going to end up as disappointed as they were under similar conditions in 2002.

Is the bull back? Not so fast, according to market history.

A change in the Trading Theme? …  Gold rebounds Big time! …  ECB cuts 50 BPS, as expected…  Lots of lessons today… And Now… Today’s Pfennig!