i want to bring in jim hershman. he is the president of western asset management. better than estimated data today. yesterday, we had mixed data. the iso number was worst than estimated. what do you make of all of this in terms of where rates are going? grades willis that remain between 2.5 and three. data has been very mixed. the fed will begin to taper in march. if data became -- remains strong, it could be sooner. thehen we started to have taper talk in may, we started to have a more violent reaction in the treasury market. do you think now that everybody is so over it that we will not see that kind of reaction? >> that would be our view. it is like a roller coaster ride. the first time, you're a bit nervous. the next time, you're not as nervous. people will handle it better this time. >> what about in terms of the communication that you expect? not just in the days of ben bernanke, the from janet yellen as well. do you think that there will be more clarity on what the fed is doing? >> we certainly think that the communication will be enhanced. janet yellen will