The Dow is ride high on a 10-day series of consecutive gains, which the market has not seen since the heady days of 1996, back when Alan Greenspan made his now-infamous comments about the “irrational exuberance” of the equities market. No such comments are being made now, as the government homes that the market’s gains will become a more steady climb and create more exuberance. Only when this looks like a more long-term recovery, will the Fed consider relaxing the rock-bottom interest rates that are strangling life insurers.

Read the story.