longer-term outlook for the Fed and should keep the long bond on the soft side.

The (Fed's) move was widely expected in the market.

The (Fed's) move was widely expected in the market,

The Federal Reserve has lowered the bar on what it would take for them to lower interest rates,

The market looks like it's stabilizing after selling off a little bit just after the sale.

We think the Fed is trying to manage market expectations on the pace of economic recovery and on when the Fed is likely to shift its (monetary policy) bias to neutral.