And it will ultimately be caution costly for them. I was struck by the response about a hot economy. You have written about this. We are nowhere near a highpressure economy, are we . Bill no. I think fed knows there are demographic changes and many more potential employees in the labor force than are accounted for in terms of the Unemployment Rate. Hot economy for janet yellen could be described by or. 7 Unemployment Rate. Tom lets go to the wage growth if we can. We showed this earlier with tom of rbc capital markets. Wage growth of another time, we are nowhere near that now, though we are being signs of wage growth. Investadjust how you because inflation means higher wages, means highpressure label labor economy within the u. S. . Bill ultimately, i think that is where we could where we are going. The advantage for labor is not what it is going to be or what. T would have then i think it is shifting in the favor of labor and shifting profits as well. As the shortterm interestrates mo
Matt yeah, i am actually going to try to pull off bunds, as i suspect you will see an impact. Not as much of an impact, but it could be that we are currently finished with trading. Right now, obviously, 5 00 here in london, 6 00 on the continent they do not open until 8 00 p. M. It looks like they have finished trading for now. For the day, a drop to negative 0. 145. Oliver we can scarlet we can track the yield on the 10year. It is at session lows, dipping to 1. 4612 percent. We are at session lows. However, you are looking at the s p. Oliver the s p got a little bit of a pop in the last 10 minutes. We are at a bit of a rally this morning, but you can see this kind of pop. This will potentially bring more loose money into the equation. We have seen that with fed funds going to zero following brexit. Were back to the situation where, guess what, maybe this is in a perverse way good for equity markets and good for people that want to see continued accommodation from Central Banks around