michael gurka of chicago-based spectrum asset management is with us this morning. good morning, michael. i'm wondering what you're thinking about the trading volumes out there. we've hit some lows this week. - yes, actually it was rather impressive yesterday to start seeing the market give back a little after we put in those all-time highs last week. and in particular, there were a couple of things that happened in the market that show that we're getting some - not even referenced as a healthy correction - but certain components of the market that we expect to fall in place that are, and that is the way that the 10-year treasury is trading inversely to the stock market, and in particular, also, the commodities complex. you're starting to see some of this easing off of prices in precious metals, and, of course, in oil, and they're all coordinating themselves, i think, very well with the u.s. dollar. so, to put it first, it's the equities coming off those highs, and i think that that is actually anticipated, but i would not look for that to be prolonged, at least jus

michael gurka of chicago based spectrum asset management is on the show with us this monday morning. happy monday to you michael. > >thank you. > >we have a lot coming from the fed this week. fed minutes and the big jackson hole meeting with the fed heads. will that hold the market in a pattern today? a holding pattern. > >i don't think it will. actually i think that the anticipation that this week's meeting and a lot of the vernacular is going to add to volatility in the market. and of course we're looking at 10 year treasury yields in particular as they breached 280 and showed us at least that though the growth of the country might be stalling on main street the markets believe that something's alive because we've started to see downward pressure all of last week. and it was reciprocated of course by the way the stocks traded along with that. > >those treasuries are at a high we've not seen since 2011. can this persist? > >i think we will see more of that but to the point that the fulcrum has already been has already been surpassed. so that point means that i think that 3% might be

think it goes against any of the principles this isn't a central story it's just a self interested gurka. professionals are businesses in this space applying regulation that makes sense for the government comes along and applies regulation that doesn't make sense because they don't understand the space i think that's all it is it doesn't really centralized power in any way it's an entirely voluntary construct and i'd rather have the people who understand that point try to come up with some practical self-regulation the government trying to apply them kneejerk yes and that's something we've talked about before especially with friends and getting involved but trace i want to ask you are there other standards that are getting set up by other independent people and where are we going from a regulatory perspective. from a regulatory perspective to start with i think the regulators are just they're getting educated on what crypto currency is a big point a category creator in this new space and it really has you know owns the market right now but it only owns it because it drives down the cost