Peter McTeague Quotations

Nobody feels they have to buy the market at higher prices, at least not yet. Stocks have had a nice recovery, they're up overseas, the dollar is weaker -- so people are saying there's no real reason to buy the bond market.

Friday's ISM was hot and restarted the bearish energy in the system,

We're pretty much spinning wheels in a pretty tight range from Friday.

Market sentiment in the short end is probably more bearish than bullish -- people want to pick the end of the Fed ease cycle (and) expect Greenspan to signal things are on hold,

Durable goods was June data, and what we really care about is July data, ... There is also this bearish impulse to the market, because people are looking ahead to next week.

There's still an argument about where the data is really going to end up, and whether the sugar high of quarter three is going to burn off, and how fast.

pretty confident the market is going to break to the upside. I think the data is going to be pretty friendly this week.

A lot of the trade is about stocks rallying on back of Northern Alliance's success in Kabul,

There is the discussion about central banks and their involvement -- many think a dollar bounce takes something away from auctions.

Indirect bidders in the two-year sales have averaged 38 percent or so the past seven, eight auctions; anything less than that today will feed people's fears about foreign demand waning.

In the end, the Fed's on hold until there's inflation and significant job creation,

The market is making a concession for ongoing strong data.