. >> good year for stifel. about investment returns. where are we going from here is a question i know a lot of people have. the markets appear fairly valued the fed is -- i don't think they're going to raise rates they certainly can't lower rates politically at an all-time market high. you have to look around and wonder if the u.s. is somehow an island of prosperity in the world or a pinnacle of interest rates. our interest rates are the highest in the world of developed countries. i've been bullish on this show a lot. today i have some caution about the overall levels of market considering financial conditions >> interesting, ron. to your point we get a downgrade of bank of america today because of the 25% year-to-date gain wells upped their target because they think banks are the catalyst and the renewed interest in banks is the catalyst you need. what tips you to the bearish side >> i'm talking about the overall market i think financials can perform well stifel is up over 40%. we were down significantly in

you look at the famed one has really capitulated on the major hazards , barclays,it suisse and at stifelrst word news. warning u.s. imf engines could push iran's inflation rate to 50%. the u.s. goal is to cut the country's oil exports to zero. iran already has been dealing with a weakening economy. for aent trump's pick seat on the federal reserve board is vowing to survive what he calls a smear campaign, stephen moore telling abc news he would withdraw from consideration if he becomes a liability. he has come under fire for criticizing cities and states in the midwest, his columns ridiculing women also in the spotlight. a surprising revelation from southwest -- boeing told southwest that a key alert was missing on 737's. told that thes warning only worked if carriers carried -- paid another fee. rear admiral controlling ---timer was relieved controlling guantanamo was alieved of his post after loss of confidence. global news 24 hours a day on air, and on @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm viviana hurtado. tom: thank you

coverage initiations by a slew of teams -- jpmorgan, ubs, credit suisse, canaccord, ray jay, jeffrey, stifel says it's neutral. shares down 14% or 15% from its ipo. wilfred, back to you guys. >> a little easier for guys to put buys on it by having had the share price decline since the ipo. >> absolutely right. just take a look at that chart, right? and we're not even showing the intraday high, which is $86 or $87 at that point day one. >> dom chu back at hq, thanks. >> you got it. >>> joining us now to discuss broader markets, mona muhajen, portfolio manager at allianz global investors very good morning to you thanks for joining us. >> thank you. >> in terms of the broader market, seems to be treading water but close to highs what's going to be the next catalyst, earnings season? >> yeah, i think generally speaking, we set ourselves up nicely for a benign equities environment. we took the fed off the table. rates are low, inflation intact, gdp growth in line with potential, perhaps somewhat above potential. that's a nice backdrop for equities i think for a next leg higher here, one, you need

rick, stick around joining us is the chief economist at stifel.nk of america merrill lynch global research. you, i just yelled at you out there, that you were too low, right before it came out what happened? >> so, joe, first let me ask, why do you do a bet where you both suffer no matter who wins why do you do that >> you know, we both are -- we love, we do, we like each other. we'll have fun when we go to dinner we might not agree on everything, but yeah. >> so, we were tracking 2.4% based on the flow of monthly numbers, and this is a pretty darn good number i mean, we're coming off a year where you had a big fiscal stimulus, and some of that should be fading the first quarter has tended to be a really weak number. and you had weather issues you had the shupd. it's a pretty darn good quarter and certainly pushes back against this hard landing notion, all this talk about recession risks. i mean, the u.s. economy's in pretty good shape. >> i guess with, you know, what we see on the first friday of every month, to get too negative would have been -