Stocks Continue Climb Despite Russian Sub Sighting

The negative effect of Fed Chair Janet Yellen's comments yesterday about the time to raise the Fed loan rate is on the horizon continued to beat up bonds and buoy stocks today.  Each of the three major indices here closed at records highs as a result while MBS bonds languished below all the day moving average once again.  It seems the stock bubble just keeps growing even as a Russian spy ship was seen near the sub base here off the Connecticut shoreline.  The Dow closed up 107 points.