For the bond market, it's clearly not bullish, ... At a time where growth is strong, the labor market is still tight, and price pressures are building, the last thing you need is a surge in energy prices that will push inflation up across the board.
The big move in oil happened over the last three days. I think we all understand the rules with oil now. You're going to have issues about inventories being low and that will push prices up. Then Saudi Arabia will say $30 a barrel is not sustainable so we're back at this game.