The market was getting extended. It's natural that it would stop to take a breather.

Got a couple of things going on. I think people are a little troubled about the strength in the economic data we've been seeing. Fourth-quarter GDP was very strong, another strong employment report.

Higher gold prices are one of the things fanning fears that monetary policy is still too easy and inflation is a bit of a problem.

It's been very, very quiet. We've heard a number of players pulling back from the market, both investors and the dealer community alike.

The auction went surprisingly well, but it's a low volume day and crude oil is dropping.

It's such a blip on the radar screen.

It's a good move. It flattens the yield curve and brings long-term rates down.

You're going to have this global competition for yields and our yields are going to be a bit more attractive. It's going to bring in some buying and it should also help the dollar relative to the euro.

The big thing on everybody's mind is oil prices.

Oil is real strong, and that still comes down on the side of weighing on the economy as opposed to fanning inflation.