alix: good stuff. ,hristopher is still with us and carl, what was your biggest take away? karl: the biggest take away was the lack of surprise that it held onto too rate increases this year. it will be unusual for the fed to go to meetings in a row when they want to be moving at a gradual pace. so the october-december timeframe doesn't seem realistic. not that big a, but the biggest take away is the rigidity of the in 2015. alix: you look at the yield on the 10 year, it all of a sudden spiked up to about 2.3% and ended -- then it relatively flat lines. a similar reaction in stocks, you see the rate sensitive stocks moving higher throughout the day, like utilities and consumer staples. like energy and financials and tech not having that strong of a performance. >> i think you have two things going on. ,ata that has come out recently janet yellen pointed to that strength as what will guide them toward a higher rate environment later this year. the second thing is, you have a bond market that is priced in with deflation risk. a lot of correction has gone on in the last half-h