McIntyre will be on R-X 30,

I think the amount of market and regulatory scrutiny would deter any predatory activity.

There is a long-term favorable backdrop to long-term securities in demand from the pension industry.

The market is building a supply concession. The market is not doing much more than supply-based trade.

There have been accounts that have been cash-rich, sitting on the sidelines, waiting for the FOMC to decide when and how to invest. We're seeing a bit of that going on.

The combination of a slide in equities and further run up of oil is certainly producing a supportive backdrop for our market. It's absolutely a flight to quality pushing the market.