terms, cashliched on the sidelines.s a lot of cash sitting there and waiting for a downturn. bryce: right. there is a lot of nervousness. this year has been pretty terrible for bonds. you can understand their skittishness. as far as the data next week, we might be focusing on the ppi more than cpi. that isn't typical, but the ppi number in food and energy has risen up to 2.8% year-over-year. combine that with loss of slack in the labor market and those are the components you need in order to see translation accelerate again. moved up from no inflation two years to now. we need to see the manufacturing prices and labor costs go up before cpi goes up and it will probably not be significant until year-end. maybe after that, all the cash on the sidelines will come back if we see the yield get a little higher. that will be what it takes to entice them to come back into the market. jonathan: that focus on ppi over cpi? krishna: the point that bryce is making is a good one. having said that, i think the expectation remains inf