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Little bit as we work our way through the middle of the trading week. The bond market, call mark, for the second time in a week calmer for the second time in a week. The 10 year, down four basis points. Lisa has been talking about this for a while. Are we here for the right reasons or the wrong reasons . The most bullish fms since january of 2022, the biggest jump in Global Growth optimism since may of 2020 at a record jump in allocation to commodities. Jonathan the fund manager survey has the headline fully bully. The most overweight commodities going back, a record jump. This is the set up to yesterday and the day before, jay powell coming out and saying its been a little bit disappointing for us, we might have to wait a bit longer in the reason why people are seeing the potential for pullback, we are not fundamentally shaking the confidence. Jonathan the quote for me yesterday did not come from jay powell. It came from the vice chair, philip jefferson. I will share it with you now,

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