On the cusp of the first quarter earnings season, the markets are hovering around two milestones: Dow 11,000 and 4% on the 10-year Treasury.

The 11,000 level on the Dow, touched briefly on Friday, is psychologically important. The 11,000 level was flirted with in 1999 and 2000, but unlike 10,000 which has been criss-crossed over-and-over again dozens of times, 11,000 has only definitively been crossed to the upside once, in 2006. The move to 11,000 is a clear sign of……

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