We are increasingly bullish on Treasuries because of where yields are. We are looking to buy more when the price dips.

The likelihood of faster inflation means we have to be very cautious about holding Treasuries.

There is a possibility the Fed may raise rates three more times to 4.5 percent before pausing, to keep inflation under control.

This is a chance to buy and we are increasing our exposure. Inflation is under control and that makes Treasuries even more attractive. We bought this week.

We're not interested in Treasuries because the Fed will probably raise rates two more times this quarter. That means yields have room to rise from here, which is why we are staying away for now.

Inflation is still a threat when U.S. economic growth is relatively strong. It will weigh down Treasuries.

Pension funds need long bonds and will be eager to buy at the auction. Demand will be quite strong.

We are still cautious about Treasuries because global interest rates are rising. I'll wait before buying because yields will keep going up in the short term.

The market will probably be less active today as players are waiting for the Fed speakers for some direction on where interest rates are heading.