There's demand for these bonds from somebody who needs duration. The economic backdrop would suggest that buying 30-year Treasuries at 4.47 would end up being a painful trade.

290

You get the idea that the Fed's not quite done (raising rates).

191

I suppose we'll be looking at inflation now. This data suggests we're getting a little creep in inflation, but not enough to shake the Fed's thinking at all.

183

Slightly higher inflation says to the Fed they have to remain with a tightening bias. The market is going to remain focused on payrolls at the end of the week. That's likely what is driving dollar strength.

169

If there was a surprise (in the GDP report), it was that the deflator and core PCE were revised up a bit. So, slightly slower growth than expected, although it's still a relatively robust 4.1 percent.

158

The currency markets are much more driven by activity and data coming out of Europe and Japan right now.

157

The trade deficit will eventually be a factor in weakening the dollar.

148

It's very expensive to bet against the carry trade.

141

When you look at valuation problems at U.S. stocks and the stronger euro and worry about European companies, there is a good investor bias to continue to add to Asia exposure.

78