Japanese investors are going into Treasuries. The dollar is going to be very well supported.

Until the dollar breaks through some sort of bigger levels...I don't think we're going to get another leg up.

It's also important to note that the point of the election was to strengthen Koizumi's reform mandate, so we'll be looking how he delivers on this front,

As long as U.S. rates are rising you've got this double-whammy effect of spare cash looking for yield and yield is there,

As long as U.S. rates are rising you've got this double-whammy effect of spare cash looking for yield and yield is there (in the U.S.),

There's not a lot of activity around.