April Showers, May Flowers?

“Though April showers may come your way

They bring the flowers that bloom in May

So if it's raining have no regrets

Because it isn't raining rain you know, it's raining violets

And where you see clouds upon the hills

You soon will see crowds of daffodils

So keep on looking for a blue bird

And list'ning for his song

Whenever April showers come along”

(“April Showers”, performed by Al Jolson, written by Louis Silvers and B.G. Deslyva)

“Woke up this morning my house was cold

Checked out the furnace she wasn't burnin'

Went out and hopped in my old Ford

Hit the engine but she ain't turnin'

We've given each other some hard lessons lately

But we ain't learnin'

We're the same sad story that's a fact

One step up and two steps back”

(“One Step Up”, by Bruce Springsteen)

“And we were never really meant for each other

We were never really meant to last

In the years that we danced together

Each step forward we took two steps back

Each step forward we took two steps back

Now one step forward and two steps back

Nobody gets too far like that

One step forward and two steps back

This kind of dance can never last

(“One Step Forward”, by The Desert Rose Band)

Spring is taking its sweet time arriving on the East Coast of the US – much of April was cold and wet. There were several “head fakes” – days when the temperatures rose and the rains dried up. But just when it seemed safe to put away the winter coat, another cold front would blow through and the cycle would start again.

Frustrating, but perhaps a fitting weather pattern for the current global economy and investment markets. There are a variety of positive signs – fairly steady GDP growth, high consumer and small business owner optimism, rising wages, falling unemployment, and strong corporate earnings.