A number of pension funds had new money to put to work and they put it into the bond market when the rulings were clarified.
More Quotes from Jason Simpson:
Execution was the problem. We had a good game plan. We made adjustments. We just didn't execute. We had way too many mental errors and they turned into critical errors.Jason Simpson
In the bigger picture it does not change that much, the Dutch rules are still going to apply. Were we to get a big sell-off you would certainly see Dutch funds coming in and buying the market.
Jason Simpson
We just probably didn't give Baskett enough respect.
Jason Simpson
I think the market at this level is not fully pricing in what the Fed is likely to do. We are looking for rates to peak at 5.0 percent. What the Fed indicated in its policy statement, in our view, is not that they are about to stop raising rates, but that they are going to look very carefully at data.
Jason Simpson
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