this new thing where term premium is going to matter to the long end again. I think the long end really answers to supply

there are two trades now... There is the front end right now, and I think that is going to happen in the near term. It's kind of the front end reaction, which is this, this, uh, bear flattener where you're getting the short end moving higher.

this becomes a duration story... I believe, and it's paying off today. I think the last I checked, uh, you know, healthcare and, uh, staples and kind of these more defensive sectors are going to be, um, the beneficiaries of kind of this muddied water