joining us now, neil dwane, global strategist, and josh feynman, deutsche asset chief economist.ood to be here. a dimmerarting to see outlook because of this? >> i was always skeptical about the grandiose expectations being bandied about, particularly after the election. having said that, i don't think we should throw in the towel completely. i think there is still a better than even chance we get something back by the end of the year but it is not going to be revolutionary all that much. alix: i'm trying to get a handle on what are the headlines that market participants care about? >> to pick up on where we started, we have felt that the headline about the global synchronized economic period, we think that is over. the u.s. is stalling and without any effort from anything from can put together through the washington's want, we think the washington's want, we think the u.s. is going to remain dull. tide is a general rising that has supported risk assets but we think that is a verb. with china looking to be stable ahead of the congress in november, we can't see anything coming fro

neil dwane: but i think the u.s. is in a different position.here is no sign of the ecb raising rates or doing anything in support of the european economy. the fed is in a different position. i would argue, tactically, that is huge redemption from the government bond market in july in europe, it is odd to see this setback in the book when they are printing any bonds. i would expect a rally in the bond but it feels like we're going to see the bonds had towards 1%. david: you've looked at this for many years now. what is the proper role for congress as they have chair yellen come before them? is it appropriate to say, you have a theory about what happens with wages depending on unemployment. it doesn't seem to be working out. what is wrong with that and why aren't you following? >> it is appropriate for them to be questioning chair yellen on these issues. her obligation is to report back to congress. she will speak on behalf of the committee so it is not necessarily her own personal views, but in the interview with answering, he said fed policy is