Sentiment in the bond market has really soured.

If the Fed is not going to do the heavy lifting, the bond market is going to do it for them.

I think there is going to be a strong sentiment to run from this.

I probably have 30 or 40 market timing indicators that are sentiment based.

The rate rise in the ECB has been pressuring the bond market -- all of the European bond market is down at this point -- and that is starting to push its way into our bond market.

It seems like the market is obsessing on this bond market fallout.