The money market initially appeared willing to bet that the next round of tightening could be the last of the cycle. (However) the tone of the minutes suggests the pace of prospective tightening could be less predictable.

We wanted to press early and often to get to their bench. But we would get a turnover and just turn it back over to them. So in the third quarter we decided to sit back in the zone.

If you believe this pension-fund legislation will occur, and if you believe there is asset and liability mismatch, then I think you would have to say a 50-year bond could very well occur.

Our weakness is inexperience. We have no seniors and we've never been here before. I'll be interested to see how we come out and play.

The bond market has little to track other than the geopolitical developments and equities.

The company has been forcing this train down the track for quite a while. Because of their behavior at the table we have been preparing for quite some time for our response after the 28th.

I thought our depth was important (in the victory). We started to wear them down.

Although geopolitics cannot be dismissed entirely from a trading perspective, the impact on the capital markets is not expected to be long term.

The diminution of Rita's winds led to a dip in energy prices, recovery in equities and capped the bond market.