--us out, andreas utermann joining us now, andreas utermann from alliance global.n the program program. >> i'm not looking forward to it, i can't wait. i'm holding my breath for to be honest. quite honest, i don't think much is going to happen. we have reached an interesting level of the 10 year. what i felt even more interesting, i think the yield cuts have fled to the extent it has. -- flattened to the extent it has. curvet think the yield will steepen from here without any further action on the short end. francine: could it get messy from here? messy already.n i think it is good messy. we have been saying for a while we need more volatility. that is healthy. we have such a risk on trade for so many years with the fed put in all that. but it has corrected itself. now looking forward to more volatility. that means if you're an active investor in the markets, it means more opportunity for us to generate. francine: where does the volatility come from? a simple s&p 500 chart. we brought it back to 2014. without a doubt, it was my chart of the week a couple of weeks a

andreas utermann spoke with francine lacqua last hour. n interesting level at the 10-year and what i find more interesting is the yield curve is flat to the extent it has. 255 of the last two weeks, that is been interesting move. i don't think the yield curve is going to steepen from here. francine: what does that mean echo -- does that mean? could get messy? andreas: i think it is good messy. we have been saying for a while we need more volatility. we had a risk on trade for so many years. i think it has gotten a bit messy that it has corrected itself. we looking for more volatility in that means if you're an active investor, it means more opportunity for us. francine: where does the volatility come from? this is a very simple s&p 500 chart. we brought it back from 2014. you can see him every time you see a circle, it is a 5% correction downward. you can see the s&p 500 upward. going up nicely into we had what happened a couple of weeks ago. do you think there is more volatility to come in equities? andreas: whether this volatility spread