Jim Caron Quotations

Given that the market is having difficulty rallying, we believe the risk is to higher yields upon a stronger-than-expected non-farm payrolls report. The unemployment rate will also be important. If it drops to 4.6 percent, then that would be very bearish.

There is a growing belief that the Fed will just keep hiking rates.

I think we had a pretty nice sell-off over the last couple of days. Then, international markets found some support (overnight) and that created more of a technical correction.

Someone took a big chunk of the auction, so we are seeing strong short-covering now in very technical trade.

It's a different story when the two-year is yielding 7 percent and the 10-year is at 6.5 percent -- those are restrictive for the economy.