. -- dramaticrmanic move.ations for inflation in the u.s. >> what is the level of sweat you perceive and local commodities -- in global commodities right now? >> that is a great point. to me, markets subject to real-time supply and demand as opposed to artificial stimulation, they tell a truer unemployment rates, staff projections, 2-2% growth. -- is at a cyclical low. it basically means if it is that such a low, the global economy is dangerously close to deflation, certainly in brazil and other developing markets. perhaps in the u.s. alix: that was bill gross speaking with tom keene. if the world is heading to deflation, can one central bank start to raise rates? lisa abramowicz is here. what is so fascinating is as the threat of higher rates emerges, markets have moved in front of that, what does that look like? lisa: if you look at the pound, it is the strongest since 2008, versus the euro. we are looking at decade highs in the u.s., we have come off a little bit, but the dollar is at a four-week high. ther