If the equity market continues to retrench, then there's going to be quality flows coming into the Treasury arena that push bond yields lower,
Even though the rising pattern in borrowing costs is a form of restraint, it is being offset by a surge in equity wealth as the stock market records consistent gains.
Good news on the recovery front. Obviously, equity investors feel that this is an environment that produces better earnings.
That is amazing. ... People have the same script but are interpreting it differently. The equity crowd view is that the Brazilian package is the first step to relieving the stresses on Latin America.
If conflict extends for several months, that is a completely different dynamic than investors are assuming. One could not rule out global equity markets hitting new lows.