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In fact it closed down 30 bips. Big deal. And in fact, to try to preach a lot of fear mongering right now is a dangerous thing to do. Having said that, theres a lot of damage underneath the surface. Theres a lot of stocks today. We talked about how weve been printing many new 52week lows across the board. And Commodity Prices are telling you something. And clearly is this deflationary . Absolutely. Is this good for the consumer . I think absolutely. Does this mean that Global Growth is plummeting . I dont think so. So on some level there is a supply issue. On some level theres an asset issue. And i think thats how you have to look at it. But to say the stock market is very healthy right now because its only a couple err percent off the highs is not something i would say. The tlt outsize move up more than a . Xle on the s p 500. Thats not good. 2 1 4 in terms of tenyear yields. Thats been a pivot point for a while. Were somewhat significantly below that. I still think yields go lower. I

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