Bill Gross on TV calling them the most overvalued product in the world is interesting, considering he called the exact bottom of the bond bear last year as the time to turn bearish. Considering friday's job report, anyone buying the treasury dip today? This euphoria will wear off after a few days likely. If the ECB goes to a rate lowering bias this week, the whole game as far as the dollar changes -- it should strengthen. The markets possibly turn more to a deflation bias. There's quite a bit of upside in treasury bonds when this happens. I picked up a call this morning on the ZN. We'll see how it does. My entry is at 117'240.