plus cantor fitzgerald ceo howard lutnick called the euphoria right after president trump was elected, right here on this show. he'll be here. >>> first, we'll start with bonds. u.s. bonds the ten-year yield crossing a key level now well above 2.5%. rates have been range-bound for most of the past five years. it's the one variable markets haven't had to face yet. is a bond bloodbath ahead and if so, can stocks and rates rally again? >> i don't think we see a bond bloodbath. we've been in this range for the last four or five years. clearly low yields have been great for the stock market over the last seven or eight years. there will be some that argue if rates went higher, that would be good because it implies economies are getting better, global growth is doing well, stocks should do well, indeed. i would say this if rates rise, the u.s. dollar should rise. a rising u.s. dollar could potentially be a headwind instead of the tailwind we've had with a weaker dollar so you can make many arguments this is the one thing i would say. you can't have it both ways. if low rates are good for ma