You still have worries on the inflation front and the threat of interest rates going up.
Gains on the inflation front have generally followed the pain of recession.
The figures show fewer people working, lower retail sales and quiet on the inflation front.
"They add up to an economy that's continuing to show signs of strength, with no relief on the inflation front," he said.
From the bond market's standpoint, there is good news on the inflation front.
But Thursday's news on the inflation front was already dismaying.
But there are major risks, especially on the inflation front, in the new approach.
But unless something unforeseen happens on the inflation front I don't think we are going much higher than that.
Mr. Stephens also sees bad news coming on the inflation front.
Cold feet on the inflation front, everyone is told, has stalled the market surge.