in the next week, fmoc president taking center stage.conomic reports out of the u.s., including factory orders. the main event, next friday, the u.s. payrolls report. diana, just to pick up on where we ended the week with a really weak manufacturing in the u.s. should we be worried about what is happening? diana: i think that's been one of our big concerns, that the markets were getting a bit ahead of themselves and that's why we think being in duration in the u.s. make sense. the economy is not picking up to the extent the markets seem to be anticipating, at least the equity markets. i thought the ism today -- when you look at the underlying data, there is just general weakness. employment also came in lower than expectation. that should makes next week's payroll data interesting. given that the markets expect something fairly robust. i think if we see downside, they might have to rethink. jonathan: the hope more than everything is to see destabilization in china, and if we see it in europe, the u.s. will lag manufacturing recovery but

economy, are strong going into the fed, the fmoc and other things, we still see a pretty strong economyrd. >> does this present at all an opportunity, without sort of dampening the seriousness of the virus? >> i think some people are taking some profit share right now, using this as an opportunity to do so this is no way diminishing the real economic and health impact the virus is going to have equities have been overpriced. there may be profit taking going on and resetting of the markets. i think going into the fmoc, we see china phase one trade deal, the brexit happening and parenthetically our firm did a study and suggests that new york has overtaken london as the financial center overall the fundamentals of the u.s. economy and u.s. consumer are going to continue to be the economic engine for the world in the short and near term. >> if i can get your take on other news of the morning. moments ago we heard reports of a boeing airport that has been downed in afghanistan. just another potential issue for this company to overcome we know they did get the 777 max off the ground in that t

also robert kaplan weighed in on the escalating tension and the political economic fallout >> the fmocioned us well for 2020. we've got some risk management positioning in the current setting. and i think it's one where inflation can go up above 2% that's without any oil price that put another story into play >> in terms of energy production, we're a lot more energy self-sufficient so because of that, you'll see these events in the middle east. they'll have an effect, but it's going to be more muted than we might have seen historically >> meantime, mike, we did get those fed minutes. looks like risk of recession seems to have dulled quite a bit, at least from the fed standpoint >> for sure. and most of the commentary within the minutes is that the committee is very comfortable with the fed doing nothing from this level and the real hope and the expectation and the intention, all of those things come together, we hope that the data coming in substantiates that stance and you know wing the market should be good with that, too. there was a little bit of commentary about some members sayin