califf, thank you meg, thank you forgive me for sneaking in the last question. i was just overcome when i heard he was a cardiologist and i beg your indulgence there. thank you both very much for an interesting interview. meg tirrell and dr. califf. >>> still to come we will dive deeper into the health care area first you'll hear from the ceo of medtronic in today's working lunch and serrat sethy, joins us to explain why pharmacies could be a good value play . >>> welcome back let's get over to the bond market where we've seen major action lately. rick santelli with the latest. rick >> yes we had a 3-year note auction that went well usually short-term are hard to push on investors because of how closely they follow the fed. 2-year you can see around 1:00 eastern rates dropped a bit. something else interesting, let's do a double, two-day of 2s today the yields didn't quite take out yesterday's highs, but notice a two day of 10s they did. even though it's subtle there's more steepening dynamic to the markets today and long dated treasures seem to be finding more s

rob califf. >> a personal agenda i see what's happening meg tirrell and kristin peck. >>> the emerging running off with the bulls but if you think buying exposure is the way to go, you might want to think twice. 'lte ywel llou how the pros are positioning next . >>> welcome back one more thing before we go and that's emerging markets. the emerging markets index is up 14% over the past three months as you can see here. seema moody has a look at where and who institution institutional are seeing growth and why china is a part of it. >> we've been speaking to funding managers. this year they're more interested in finding secular growth stories to invest in. strategists at goldman sachs showing 70% of emerging markets benchmark funds right now are overweight mexico and brazil, while only 30% are overweight china. they say that's one of the reasons they see more upside potential in china morgan stanley expecting an additional 16% gain in chinese stocks by the end of 2023. and they're also anticipating investors to diversify their chinese holdings going beyond the large cap tech names we foc