Let me get you all riled up. This is from my friends at GaveKal (I will be with Louis later this week in Hong Kong). Anatole speculates the US will surprise to the upside, and Charles says rates should then go higher, the opposite of what Lacy Hunt will soon argue in his latest piece, which I know is coming. It is good to read things that shake your tree every now and then. :-) And who says travel isn't glamorous? AA is late four hours to Tokyo, which makes me miss my connection, so I must take a later flight into San Fran and then on to Hong Kong after six hours of layover and get in at 6AM to start a full day, rather than sleeping in Hong Kong.