Jon Hill

The reality is the market is now expecting lower rates on average over the next 10 years than we have currently. And it's a combination both of a dovish Fed and also ongoing global growth concerns.

business

Yields can continue to push higher from here, but not dramatically so, at the end of the day we are in a recession, unemployment is above 10 percent, we have low inflationary pressure ... and a Fed quantitative easing program on top of everything else.

To me that really speaks to...a deep lack of conviction over what comes next.