We're making great strides toward the future of this base, and there's a much more positive feeling here today.

If Fed Funds were expected to rise in the future, the curve would be positive with intermediate and long bonds requiring higher yields as a cushion against accelerating short rates. If the Fed were expected to lower rates, a flatter, even inverted curve might result. It's not that this academic theory has been dislodged in recent years but it may have been asked to take a seat next to the increasingly important variable of global financial flows. These flows, no doubt, rely critically on the willingness of foreign investors to hold U.S. assets in the face of potential currency and asset price depreciation.

We ended the season on a very positive note. We are working to building up the program in the future.

There just aren't that many motivated sellers. It makes me think the overview is fairly positive.

Letting go all the negative today and getting started with positive things.

We expect a positive reaction to 4Q results in Qwest shares today (Tuesday) and anticipate '06 numbers across the Street will be moving up on the back of today's results.