joe: david schall, thank you for joining us. ♪ alix: i'm alix steel. joe: i'm joe weisenthal. we have china manufacturing coming out, france, germany, it is going to be exciting. joe: everyone is going to be watching the chinese pmi number. i it's going to be very exciting. alix: speaking of janet yellen, she is speaking thursday. that is going to be a huge thing to watch, university of massachusetts at amherst. joe: another thing to watch, the greek election. a very close race. the market's view is that it doesn't matter, both are these would execute the current bailout package but you have to watch it. alix: thanks for watching. have a lovely weekend. see you monday. ♪ >> from our studios in new york, this is "charlie rose." charlie: in a highly anticipated decision the federal reserve kept interest rates unchanged at record low levels. the committee cited global economic uncertainty and recent fragility in financial markets. the fed chair janet yellen address the decision at a news conference today. janet yellen: inflation has continued to stay below are 10% objective. part

schall. andtive returns for s&p 500 the 10 year u.s. treasury, this hasn't happened since 1969, but i believe it will happen this year. davidns us now from raleigh, north carolina. is the year playing out as you expected it? david: i think it is. i think there is this belief that stocks and bonds are going that hasnversely and been the case but since the crisis we are in on charted times. the fed has amassed a quantitative easing policy. i don't think they can necessarily be expected to continue in the future. alix: how much of the 10 year yield has to rise to have a negative return and get to the level you think? david: you're asking me math on the air. probably around nine or so. i think what i calculated was 12 basis points or so to offset the income earned but i would have to go back and check. joe: [inaudible] point, i wanted to see how negative you would have to be on the global economy and how that would be reflected. that would be what i was asking. david: i think that is the point, i'm not negative on the economy. the markets in the economy have disengaged and split off and when they are positive on the economy you