so that's jeffrey gunglach on the record. you heard his thoughts on the economy, his prediction for next week's fed eeting, which, i should remind you, he spends every fed day with us on "closing bell," and we'll do that again next week. you heard what he thinks will happen, and you'll find out what did happen. when i see you later on, we have more sound from him on investment ideas about bonds, stocks, and some other areas of the market he watches closely. in the meantime, join megato discuss all of this is nancy davis, chief investment officer. good to see you here in luntington beach. >> thank you. >> to the point about the economy not being as strong as some would like to believe, he doesn't believe as you heard in a soft landing scenario, recession next year, rate cuts to follow. what do you think? >> well, the treasury does have to refinance, almost a third of our debt is coming due in the next year. the data in the u.s. has been pretty strong so far, but the treasury has so much debt to refinance. like, what are they g