with a still is david lebovitz of jp morgan asset management.nk it all comes back to the idea that businesses are still a bit nervous about the outlook for growth. they are not really willing to invest as we seen. capex is contracting in the second quarter when all is said and done. they are much more comfortable going out and buying somebody else that has a proven product. deals going on today made a more -- today may be more financial driven, but we think this him m&a is going to continue. if you look at private equity activity so far year to date, add-ons and platform creation have been it clips and buyouts, in the financials and health care services in particular. alix: and i'm sure 2% rates don't hurt. david lebovitz of jp morgan asset management and linda dussel of federated investors will be sticking with us. coming up, we take a look at fedex's earnings and uncertainty with trade. this is bloomberg. ♪ alix: this is "bloomberg daybreak." happy tuesday. nothing is really happening. s&p futures hold steady. european banks are down 6/10 of 1