jonathan: jeff cucunato from blackrock clicking -- sticking with me.uries throughout the week and yields grinding lower, down two basis -- about points. still ahead on the final spread, it is the week ahead featuring the -- president trump going on tour. ♪ ♪ jonathan: from new york city, i am jonathan ferro. this is "bloomberg real yield." coming up over the next week, the chinese president hosting world leaders, including the russian president as he promotes his trade and in for structure plan. president donald trump getting his first international tour. some things on the agenda coming up in the next week. i want to bring in our roundtable including greg davis, oksana aronov, and jeff cucunato from blackrock. a question coming in from a viewer via the bloomberg terminal. on a default adjusted basis, isn't em better? oksana: the answer to that question will very much depend on what part of em. as i said, it is differentiated. if you look at the indices very simply and you are getting paid $250 over em and $850 over triple rated high yields, do not con

jeff cucunato, thank you so much. greg davis is sticking with us. coming up is the auction block.alling out the bond bulls after a lousy treasury auction. we will wrap up the the week for you. this is "bloomberg real yield." ♪ ♪ jonathan: from new york city, i am jonathan ferro. this is "bloomberg real yield. i want to take you to the auction block, where commentary this week caused a little unease in the $62 billion in the treasury auctions. the $15 billion 30-year bond sale saw wall street dealers stuck with the largest share since september, while the $23 billion 10 year auction had primary dealers absorbing a larger than usual amount, it has been more than two years since they drew more than the market expected. that drew the attention of one person. he wrote "lousy 10-year treasury auction. where are all the investors that turned bullish in 2015 talking about 150?" apparently you are meant to buy low and sell high. let's bring in our roundtable, greg davis. oksana, the twitter account raised a lot of eyebrows. i want to ask you to respond record in mr. gundlach. but the story