then we will turn to the equity markets with gina martin adams.hink it is really must watch, must listen through the 9:00 hour. i will speak to the secretary of labor, and yes, i will grill him on the wage dynamics of the nation. right now, red and green on the screen. james glassman joins, with jp morgan and their commercial banking sector, truly with one of the great fingers on the pulse of the nation. the macroeconomics was beaten into you at northwestern years ago, and that is this great distinction of is this about more hours worked by the employed, or are we going to get to actually more jobs. which is it? james: that is the key, and it is more jobs that really counts the most, which is why the fed says we are far from achieving their maximum employment mandate. the national economy has gotten back to normal, but business is i talked to, everybody is much more efficient. they are able to produce a lot more with limited resources they have. but the key to this whole story is employment, and we hope that is coming. frankly, employment is 10.5

taylor: i think gina martin adams told us yesterday, correct me if i'm wrong, it is 12 hours ago andy read member, that everyone thinks higher yields hurt, but not as much as they hurt other sectors. tom: where are we on banks? there's a load of cyclicals and values to go to. but on global wall street, where are banks? is it still curve steepening 101? dave: last friday -- taylor: last friday, everyone said curve steepening is here. they are betting on further growth out, steepening the banks. romaine: we should have had this conversation before i took cfa. taylor: how did that go, by the way? romaine: i learned a lot. [laughter] tom: these are the questions the pros are going to write about off of the jobs report this weekend. i would suggest everybody is waiting for this report this morning to rewrite their midyear review. the midyear review is about better economic growth than what anybody expected. taylor: we .2 michael gapen of barclays, who we had yesterday -- we point to michael gapen of barclays, who we had yesterday striking a different tone. he's looking at a gain of 0.3% a