but i think my host here this year, bob lynch, said he would settle for $1 per u.s. citizen he'd be happy with. bob said just ask them to wrap around $1. it'd still be more than double what the appropriation is now. i want to finish by just -- because i could go on and on and on. i do want to finish by just saying, we have heroes, friends, comrades whatever you want to call them here in the house and senate. republican and democrat in terms of our seemingly never ending journey. and keeping america focused on the arts and arts education. i would like to take a moment to thank louise slaugter, you all know louise, and congressman norm dicks who is the democrat from washington in the tacoma area. both stallwarts on the democratic side. both -- and i came to testify with kevin before the congress, and the testimony was canceled. and we didn't wind up doing that. but representative richard hanna who has been a good friend to the arts and our movement, the republican from the utica area of new york. and representative chris gibson also from new york from central new york

and also to thank bob lynch and nina oslew and everyone on the staff of americans for the arts because i am here once again as their guest for the arts advocacy day work that's being done on capitol hill. and tonight is the lecture, the nancy hanks lecture. and the dinner to follow. i started coming -- before we get to that, actually, let's talk about american airlines and words with friends. because i know that's precisely what you want to talk about. because it's not lost on me that while i was being admonished for using my phone while we were parked at the gate i think someone dish think some dear friend of mine, some colleague of yours from fox news who i'm deeply, deeply, boundlessly admiring of, mentioned that i was using my phone while we were actually on the runway about to take off and they had to taxi back, which is not true. but while was in the plane and we were parked at the gate and i was using my phone, and then i was asked to leave the plane, i want to just tell you this. it was this amazing moment because it seemed like a scene from a really smart movie, like a michael

but i think my host here this year, bob lynch, said he would settle for 1 dollar per u.s. would be happy with. he said just ask them to read their breen around 1 dollar, $320 million which would be doubled with the appropriation is now to read i want to finish by just -- because i could go on and on and on. i want to finish by saying we have heroes, friends, comrades, what ever you want to call them in the house and senate both republican and democrat in terms of four seemingly never-ending journey in keeping america focused on the arts and arts education. i would like to give moment to thank live via slaughter in the buffalo area. you'll know louise slaughter and, norm and democrat from washington in the tacoma area. both stalwarts in the democratic side of the house for the arts. on the republican side, equally a stalwart -- i was here last year when kevin spacey was the speaker and i came to testify with kevin before the congress, and the testimony was canceled and we didn't wind up doing that, but representative richard hannah, who's been a good friend to the arts in o

bank of america, merrill lynch downgraded the stock down 1.75%. now i want to go to bob pisani. the latest details as we kick off the second quarter after a darn good first one. >> starting off pretty darn good there, brian. look intraday on the s&p 500. sitting right near another new high. that's intraday. that's what you would expect. this is traditionally a good month because you get in-flows into stocks due to tax season. it really does matter. so far off to a good start. something that puzzles me a little, brian, i'm not sure what to make it but remember the bond market dropping helping the stock market? yields were going up for a while here in the last month and then in the last seven or eight trading sessions the yields have been dropping as prices go up on the bond market. i'm not sure what to make of this. i'm not going to yell about it too much. i am a little concerned about it though. keep an eye on that one. elsewhere sectors looking good. materials what you want to look at. those are doing well. energy, here's all your risk-on trade. consumer staples are doing good

bob. thank you very much. >> u.s. markets faired very well so far this year. one of the next guests, that's chris wolf, from merrill lynchhe says it is time to be neutral weight in equities and better opportunities in the fixed income credit market right now. >> what's the best investment play right now? not just with chris wolf. guys, good to see you. >> here. >> chris, neutral equities, overweight fixed income? that doesn't mean you like treasuries, right? >> no, it doesn't. simple strategy is follow the cash. in this case, corporate cash. corporations have profitability, margins, cash on balance sheets and we think that's good for credit. spreads can come in further and on any kind of pull back, we want to be adding to those positions. >> because the economy is slowing down? >> broad view around economic growth is that it is stimulus and economic recovery. that will be determined later this year by congress. our reality check is that corporations fundamentals are reasonable strong. we want to be a more picky but the credit markets look more attractive. >> you agree with that? >> i agree with the treasuries and avoidin

bob, the last time, little do you know, but i get all of your stuff from my mother-in-law's merrill lynch last time you were on, and you were sort of saying you were still bullish, but at the same time, you said is it the top of the market, question mark. do you remember titling one of your reports like that? >> yes. and in the near term, we would argue perhaps it is. but last time i was on the show, you tried to get me to say up 30 for the year and i said up 20. >> that's all i'm telling you is i know what you're telling clients now and i'm seeing -- so you can't come in here and say one thing on paeper and then say another thing here. because i've got your number now. >> we know you have all the good stuff. >> in that report, you posited that question because biskly said all the stuff up on the air that day. so actually you were not being -- >> a straw man leap? >> kind of a straw man leap. >> yeah, i think that's right. because as you know, people were asking the question, gee, we got the jobs report earlier this month, europe sewed up on the front page again, and people are saying is

. >> and pat hitt was working very closely with bob lynch. >> pat was an earlier point he also. >> remind everybody who she was. >> she was the assistant secretary for longtime california supporters of president nixon and bob fish. in 1970, the memo was 1970 but it didn't happen immediately. it still took a little bit of time. >> it took some germination i guess and yeah there was some tugging and pulling inside. not everybody thought it was the best idea in the world and one of the other recommendations in that task force was more women in policymaking positions. and we have that decision memo, where the president did get some of the wheels in motion as bob finch had drafted. then what emerged from that and early 71 or let's say in april was a three-pronged strategy to attack the appointment of women, the problem, the lack in the first thing was the memo that the president sent to every cabinet secretary and agency had that required an action plan about how those secretaries of agencies were going to appoint more women, train more women in their departments. this was before you came on b