greg staples joins us now. have we seen the highs of the year on these yields yet? greg: we've not seen the highs in the 10 year treasury, i do not think we have seen the lows in the euro. there is lot of buying waiting to get to a 3.5% 10 year. we could bounce around on the two year it will pull longer rates up. lisa: what is the high for the two year? when you start to get confidence we have full hawkish mispriced in? greg: there's a bit of upward gravity pull in the expectation of the terminal fed funds rate. 4.5% seems to be the number. matt luzetti is talking about potentially 5%. that number will pull the two up with it. to be as much as 4.25 before we finish this cycle. tom: how does credit respond to this? does issuance go on hold? greg: there it be acceleration for market participants to try to issue in the marketplace. there is concert if they wait longer they face higher coupons and the possibility the window shots overall. one thing we have been talking about on this program is they're concerned about evaporating liquidity at the market based. we were tal

jon: greg, we always appreciate your time. always welcome. gregory staplesment mgmt americas inc. a very short list of people, including greg staples saying that is not the case. lisa: we saw -- changes view. that to me was significant. a case for yields to go higher than they did. jon: we see how that develops in the coming weeks and days. that engine story the last couple of months. lisa: talking about a 70 point isis hike from the ecb. a fiscal policy, borrowing more to plug an undetermined gap for an indeterminate amount of time, kind of concerning. jon: if rising rates and qt have seen rising -- have seen radically different backdrops. we are going to get a 75% basis point. i don't think that should be lost on anyone. this is a big deal. kailey: it devil he is a big deal. my question is what impact will it have? when you have inflation driven by an energy crisis that in no means looks like it is going to be resolved quickly and the euro is weak, not just because the euro weak, because the dollar is strong, how much does it make a difference in either of

greg staples will talk about the bond market, have we finally seen the highs of the year in this bondthey of aberdeen has some things to say about europe. he is perhaps in your camp, lisa. we will hear from him a little bit later. live from london, this is bloomberg. lisa m.: keeping you up-to-date with the news from around the world with the first word, i am lisa mateo. a retired federal court judge has been named as special master to review all 11,000 documents seized at donald trump's florida home. the special master has until november 30 to complete the review. meanwhile the judge has refused a government request to use documents with classified markings in a criminal investigation. the white house is offering state and local governments $1 billion over water years to fight cybercrime. as part of an effort to beat back attacks from criminals who have targeted everything from gas pipelines to meet factories. the money comes from an infrastructure bill passed last year. shares of uber are lower. the ride-hailing company has shut down internal slack messaging following allegations of

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