The market is calm despite expectations the government may increase the money market 'short' because inflation figures were high and overnight money market rates are low.

There was some deterioration in inflation expectations, which probably drove overall confidence lower, but the decline is so small, it is not that significant.

I noticed money market rates soar, but that can be explained by month-end demand for cash.

After two or three months of inflation numbers coming in above expectations you start to revise inflation expectations upward, which puts pressure on domestic interest rates.

The main enemy Morales faces is the inflation of expectations. People have a lot of hopes, a lot of expectations. But some are expecting miracles in the short term.

The market is moderating its inflation expectations. It's a good time to get into U.S. Treasuries.