joe: coming up we speak with jan stuart.urope in the energy market is next. ♪ joe: jan stuart of credit suisse is joining us now to talk about the oil market and energy market overall. we've been seeing west texas intermediate oscillate above and below $50 a barrel for the last several weeks. was the next direction? jan: it feels better than 40. joe: you're an oil producer. jan: of course. the idea is it saves lives in our view. opecgh the winter, unless does pull off this deal and takes barrels off the market inventories begin to decline faster, then we could stay out of the range that was 40 to 50. scarlet: you sound kind of skeptical. is anyone convince opec will follow through? jan: it is so interesting. you want to take a big picture view. you want to see that the linchpin producer, the one that says go away, that is the one that bounces. they're the ones with all the cards. it looks to me like they want the deal so badly maybe they are giving iran leverage to frustrate things. side then setly up, if they do that right,

that was jan stuart. scarlet: joe weisenthal joins us now. because the theme this week feels like inflation. everyone is looking for evidence of inflation. the cti report shows a quickening inflation but it was below estimates. joe: i have a question that i'm wondering about that. government bond selloff and we will talk about that later. and is it because people are worried about inflation or our government bonds selling off so they are looking for an excuse? because a lot of the trends have been there for a while. your is a chart that i look at regularly in my bloomberg, it shows different ways to slice up the cpi report. energy, cleveland said, core cpi. most of this did a little bit lower this month. the one exception is the red line. thosest of this, most of taped down this month. you can see the trend is clearly up for all of them. so when you talk about the inflation story, which has , it isa lot of attention a story that has arguably been going on for about a year. changed is that oil prices have risen and lifted expectations. joe: th