Thomas Lam Quotations

I suspect that economic data will put a downward bias on yields.

Supply will be a greater factor pushing up yields. Investors won't be too keen to push yields any lower, even if economic data look positive for the market.

We have profited from a mutually beneficial relationship with Mr. Kowalski since 1996. We look forward to working more closely with him to improve our production and revenue capability.

The bias is for U.S. Treasury yields to trade modestly to the downside on risk-aversion shifts and the downside biases on U.S. economic releases this week.

It will compress consumer spending through negative wealth effect.

We are skeptical on the quick rise in yields as nothing has fundamentally changed in the past few weeks. The bias is for yields to go downward.

Demand from pension fund and insurers should be relatively firm.

We're a factory, we're not Sony, but the world is changing and we'll do whatever retailers require.

The Fed will probably go along with what the market has priced in to minimize volatility and any policy surprises.

Given the trend of an aging population, especially in Japan, I would presume that the 30-year bond in particular should fetch decent prices.