William Sullivan Treasury Quotations

There were questions developing in the market late last week regarding the tenor of Greenspan's speech ... (and) it seems as if the potential that there won't be a rate cut is weighing negatively on the Treasury market.

We're flying solo in the Treasury market, we're responding to the fundamentals.

Inflation was probably a little bit stronger than expected, so against that backdrop we don't expect a substantial Treasury market rally. We may get some short-covering, but many observers will sense that this is a soft patch.