The higher that rates go from here, the more the bond market needs to respond to them. The bond market should finally respond to upward pressure on long-term rates.

This bond will help keep utility rates for our residents as low as we can make them,

We haven't raised membership fees in two years. Yes, there will be higher rates in 2007 than 2004, but perhaps only one-and-a-half percent higher. One of our goals (with the new pool) is not just to cover our expenses, but run it at a profit.

The market is on guard after Broaddus reminded us that the day of reckoning when the Fed raises rates is drawing nearer and the rebound in global stock markets is adding fuel to the fire,

The market is on guard after Broaddus reminded us that the day of reckoning when the Fed raises rates is drawing nearer and the rebound in global stock markets is adding fuel to the fire.

There's a little bit more caution coming into the investment outlook mostly because of fears of higher interest rates in the U.S. and Europe and now Japan.