will forceg deficit u.s. to borrow $1 trillion this year. finally showsket a few signs of catching up with credit. volatility making a comeback. >> the market is finally catching up with fed expectations. the labor market is starting to take hold with wages and employment. i think the market is waking up to the fact that the plan that the fed put in place is actually justified. >> we have more policy uncertainty which can naturally lead to more economic uncertainty which will lead to more market uncertainty and that will end up with more volatility. >> these things take time. it's hard to have such a dislocating move without creating all kinds of wreckage around that you are not expecting. >> lower long-term yield, that could lead into higher evaluation. i don't see a financial crisis on the horizon. we are paying close attention to it. qe unwind more getting priced in. the boj was buying. while that is unwinding, the entire market is realizing that , that is stepping away. jon: get ready for more volatility. around the table, greg peters of

will forceg deficit u.s. to borrow $1 trillion this year.ket a few signs of catching up with credit. volatility making a comeback. >> the market is finally catching up with fed expectations.