The markets remain volatile as investors keep a close eye on the Fed, watching for signs of an impending interest rate increase. Recent comments from Fed members indicate that a second increase may be coming sooner than investors had been thinking (possibly as early as June or July) as the data they are seeing seems to provide enough indications of strength to warrant the increase from the low levels at which rates currently reside. Another important indicator of economic strength will come at the end of the Memorial Day holiday-shortened week when new numbers on employment data come out on Friday. We continue to expect volatility due uncertainty about rates. However, a good jobs number should provide more clarity into the Fed’s decision making process, influencing the next moves in both the equity and fixed income markets.