That concern was definitely there, so that's why you see the market rallying.
There are some profit-taking pressures coming into the market.
To a certain extent the market is correcting the bullishness that came from the Fed minutes because the text was a lot less dovish than the headlines.
It's hard to come up with positives in the market. It's another leg in the string of factors that point to a long stream of losses in bonds.
You're not going to get a clear signal until tomorrow.
The curve inverted modestly yesterday, and people are piling on.
There's a sense that the G7 meeting sort of supports intervention in the market so you could see some good foreign flows into Treasuries.
