The Problem With the Bond Market

SRE: A long time ago, I was talking to a portfolio manager. He said the problem is the bonds are great at flagging bad news, but they're terrible at calling the swing. And he felt like sometimes equities had to jump on that. Well, we just spoke about it. If you look at the treasuries, I talked about how the treasury, Eve curve had started to steepen in 2008 2007 2008. So when we realized finally that Leiben brothers had gone bankrupt and we were in the midst of a crisis in the summer fall of 2008, the treasury market was actually rallying. Okay. Ralph asking, can, can we see his 2007 report from