tom: michael mcglone, thank you very much.is so important and goes within the gloom in the media and that. to me it is incredibly important there are glimmers of optimism out there across all of the asset classes. honestly i have seen less optimism than we did three months ago. tom: this week has been brutal. not: i think people are fully understanding the implications of no fiscal support in washington. as that becomes more of a reality, there's a huge divergence on how big of an effect that will have short-term and near-term. jan hatzius talking about how he is upgrading his expectation for next year. that is not the consensus. tom: he is definitely more optimistic than others. kevin cirilli making very clear the stimulus is decidedly a moving target as the democrats figure out what to do in those house, whether those challenged democratic races can convince speaker pelosi to bring that number down. i thought the observation on high-yield giving way was important. the higher relative yield in the high-yield market. what to t