OPEC production went from 30 million barrels a day to 33 million. They flooded the market, and it's lost them a lot of money. Look at the Saudis: they just floated a $17.5 billion debt offering, they earlier borrowed $10 billion from a group of international banks; they're selling part of Aramco - they're desperate for money.

We've seen that in the past that where you've had uncertainty, and even where the Fed is raising rates, Treasurys rise as everybody heads for safety.

A [Donald] Trump win might be bad for stocks, but it would be very positive for the dollar and Treasurys.

TPP is dead anyway, and similar deals in the eurozone are going nowhere.

Treasurys, as low as yields are, are higher than they are in most other developed countries.

[Niccolò] Machiavelli said it's better to be feared than to be loved.

We're in a pretty tumultuous world, and there's a lot of uncertainty. Treasurys are where people go as one of the few safe havens in the world.