jonathan: oksana aronov, with colin robertson and jim cielinski from janice henderson investors.markets, where bonds have been this week, treasuries, twos, 10's 20's and 30's. two basis points lower on the week at 283 and we and slower by basis point on a 30 year bond yield. still ahead on the program, the final spread. the week ahead featuring a fresh reading on u.s. inflation. this is "bloomberg real yield." ♪ ♪ jonathan: i'm jonathan ferro, this is "bloomberg real yield." it is time now for the final spread. coming up over the next week, it will be a shortened trading schedule due to good friday ahead of the easter holiday. we get a series of u.s. economic data points, including personal spending, housing, and a look at inflation through core pce. still with me around the table in new york is oksana aronov from jpmorgan, colin robertson from northern trust and jim cielinski from janus henderson investors. jim, as we look out for next week and through the weekend, and as people look at the show as it re-airs, there will be a lot of noise coming from washington, d.c., whether it

northern trust and him into us from london is jim cielinski, global head of fixed income at janice hendersonnvestors. what have we learned about understanding the reaction of fed chair powell? ms. aronov: he played it safe. it was the inaugural meeting and it was important to get through with minimal volatility. it was interesting because during the meeting, it was perceived as dovish, but in the announcement subsequently, it was perceived as more hawkish. i was writing some comments before the meeting even happened and i said i'm writing this as we are sitting a day away from fed and it doesn't matter whether it's going to be three or whether they're going to indicate more than three. jonathan: why not? ms. aronov: as long as the fed continues to shrink its balance sheet and as long as it continues on the path of higher rates, as long as markets continue to grapple with additional supply, not only from what the government is doing but also from less regulated banks, which are huge holders of the technicals for the treasury market and everything off of it are not constructive. jonathan: jim