One of the most common expressions in the investment world is that “one day does not a trend make.” Indeed, it would be foolhardy to over-analyze the stock and bond market reaction to the initial estimate of 4% economic growth in the 2nd quarter.

We sold half our Bombardier too soon, or perhaps not. A top exec of the Canadian plane-maker today said it would get its C-series jets in the air by late 2015, but unless it figures out why an engine fire last week broke out, the schedule “is not secure”.