The data is certainly improving. We could get to much higher yield levels than we are currently at.

With the curve having flattened for a few days in a row, people may have taken their money out of it. There's been big selling of the 30-year bond.

In the short-term, we wouldn't want to oppose this move, and it could go a little further. There's no reason to buy Treasuries at the moment.

The ECB is likely to keep preparing us for a rate increase this quarter and that will keep bonds under pressure.

The U.K. data looks quite reasonable. The Bank of England is going to be on hold for a while.

The market's expecting the ECB to prepare us for a rate increase this quarter and that will keep bonds under pressure.