The best auction will be the long bond. We expect great demand from overseas accounts in the long bond specifically, as pension rules in Europe are much more strict than current rules in the U.S. and these rules favor bonds over stocks. |
The Fed is close to ending their rate rises, while many other countries are starting to begin theirs. |
We've had 13 increases and it's finally beginning to hit the market that we are starting to slow down. The market is still fighting the last war and not looking ahead to what's happening. |