David Ader

We deem this action representative of a market that has lost the flurry of last week's panic buying and instead read more

We deem this action representative of a market that has lost the flurry of last week's panic buying and instead is rethinking its view as to the near-term motivation of the Fed and the impact of Katrina.

This is big news. People sort-of thought it was inevitable, but it's still come sooner than many expected.

This is big news. People sort-of thought it was inevitable, but it's still come sooner than many expected.

Without the benefit of data or issuance, the impetus to extend those gains is limited.

Without the benefit of data or issuance, the impetus to extend those gains is limited.

It is going to follow what the nominal (Treasury) curve is doing. It's not that great of a surprise.

It is going to follow what the nominal (Treasury) curve is doing. It's not that great of a surprise.

We've seen dip buying and think that's a precursor to larger commitment into supply.

We've seen dip buying and think that's a precursor to larger commitment into supply.