what will be the market impact let's bring in jason hunter and michael gibbs. u to you both for joining us we appreciate it i will start with jason. in terms of what investors should expect when it comes to yields, are we settled into a range or should we see even higher yield from here >> we came in from the summer into the autumn thinking the yields at the back end of the curve were set to release cheaper. we favored steepening curve trades now that the move unfolded, we think it's largely behind us the long bond overshot levels where we thought that would get. the 30-year bond, 335 to 338 was the area where we thought the market would establish the cheap end of a new range it got closer to 345 that said, like i said earlier, this is an area where we think the market establishes the cheap end of a range the move largely behind us the steepening autumn, we exited the trades and are fading the yield curve. >> let me get this straight. you said the steepening bias with which we entered the autumn it's barely the first week of october. october 9th or so and we've

the futures are up we'll have a technical analyst jason hunter to run through what the damage has been deal news of the day, i ibm buying red hat we'll be talking about that with ceos first, ginni rometty, jim whitehurst from red hat. $190 a share in cash it's a 63 a share right now. it will open up $6 what it means, why they're buying into this, what it means for the hybrid cloud and how they keep jim whitehust and his team around. they will stick around they will report to gin ginni rometty. plus jim hutchins is our guest he's a tech expert so we'll give him a lot to start with. >> i'll be with you at the top of the hour as well with the markets. coming up next, german chancellor angela merkel suffering a political blow in a weekend election now she's set possibly to give up leadership of her party why investors need to pay attention to this story when "worldwide exchange" returns rebekkah: opioids has taken everything and everyone i've ever loved away from me. everything. i blew my ankle out and i got prescribed pain pills by my doctor. of the hour as well with the i just wish i wou

. >>> let's take a look at the technicals behind fixed income joining us now jason hunter from jpmorganhe last question is always the 10-year. for you it's going to be the first question so in a perverse way, higher yields causes the market to sell off and markets selling off causes yields to come back down. it must be hard to figure out in advance, you know, what is the real number of, you know, sans the equity market, where should we be? >> the belly of the treasury curve becomes the beta instrument that defines how things go moving forward it's about timing the equity bottom at the moment it was higher rates first, the steepening of the treasury curve that caused the market anxiety and volatility once you move on, equity volatility takes hold, then it becomes where the equity market starts to lead >> is it all right for them to panic over 25 basis points >> calling an overreaction it is what it is we saw this already earlier this year but if you go back, coming into the year, we used for our outlook 1987 as a good outlook of how this would play out commodity markets are being -- >> t

we saw jason hunter.ou look at the lines in the sand, this level we are at the s&p 500 is where you start to buy. tothinks we may go down $2700 but that is a buying opportunity. this seems to be the narrative coming out. we have broken every technical level. with theinally braked moving average. people are not looking at the 250 day moving average. it is just how much you want to buy into its. i think what is most important is keep the noise at a minimum. it seems silly. one of the things i think is important today, this is great. this is an opportunity where if you have been spending time, know your companies and see things -- the companies are being punished for no apparent reason, it is an opportunity to invite them. i think it is trying to keep the noise out. >> in general, it is a good idea to keep the notes out. president trump thinks it is about the fed but is there a signal we should pay attention to? >> i do not think there is one signal. i think it is motion. i do not think it is one point in ti

jason brooks. >>> good morning. it is 6:42. and a beautiful shot of hunters moon there under clear skies with our mount vaca cam. other spots with fog in many locations. i'll show you where coming up. i'll also show you the futurecast taking you through the day. your complete forecast in just a few minutes. >>> new this morning, a fresno man sets his parents' house on fire after trying to exterminate some poisonous spider. the it 3-year-old told firefighters he was using a blow torch to exterminate some black widows around th the bricks had a small crack though and the flames from the blow torch sparked some flammable material causing the fire to go into the attic. the 23-year-old man's parents weren't home at the time. >> well, yeah, we don't never recommend using some type of heating device like that to get rid of any vermin or spiders. there's agencies you can call for that. >> the blaze caused about $10,000 in damage. no one was hurt. hashtag no common sense. >> not a mensa candidate. >> let's try to remember he was trying to help his parents. >> by torching his house because of spiders. ha ha. >> they are p