The statement fueled market expectations that the Fed will further increase interest rates.

If figures in the jobs data are stronger than expected, 10-year treasuries could rise to 5 percent with sentiment already weak.

Ten-year yields may have already peaked and this would be a good time to get back into the market. We see Treasury yields falling from here.

There is no sign of the economy slowing and that's bad for the Treasury market. We're not expecting any surprises from the Fed next week, which means we'll see another rate hike. Yields have not peaked.

We are seeing more signs that inflation is well contained and that is good for Treasuries. We are recommending a buy on Treasuries at these levels.

If the rate expectations continue to come down, Hong Kong, as an interest rate sensitive market will likely benefit. Moreover, if the interest rate expectations drop, the U.S, growth expectations will also taper off. This will also encourage money to flow from the growth sensitive markets, notably Korea and Taiwan. Hong Kong will be an idea destination.