to our guest host, jeffrey rosenberg. he is managing director at blackrock. red. hings could change. i love the tension in your note about how we are complacent. wait a minute. what are you worried about? >> the title of our node was out of the frying pan and into the fire. a lot of our concern is that investors last year. rising interest rates and they got out of a lot of traditional dixon come products and have been hiding out in the front end of the yield for short appreciation product. if you look at where we are going what's going on with fixed income market, we're going to have a fed that is transitioning towards had a policy. if not today or tomorrow, but in the next year. we will be talking about tightening. it is the front end of the yield curve that goes up the most. this is where people are hiding out. it is a bit of an underappreciated risk. haveu are old enough to seen this any number of times. why don't i go-something different? >> you have the best reason right front of you. look at first-quarter performance. one of the most surprising things -- i go

jeffrey rosenberg from blackrock about equities and bonds. what do you do when it is quiet?g weis have been exploring. we have huge pharmaceutical deals in europe so it's a little less quiet. you have to ask yourself whether the quietness is justified. blinkersrkets are in where they don't talk about russia and ukraine because they are focusing on central banks, two weeks down the line we might be in trouble. >> we will look at the pharmaceutical deals. a lot of transactions going on within the quiet. it is all linked back to the central banks. some seems to be the idea of very cheap money. explain the novartis deal. in threellion expected deals. they are streamlining and going after what they said they want to go after, which is growth -- oncology, for example. immuno oncology. what could beat cancer. and "the wall street journal" talking about the ottoman -- talking about bill ackman. he is going after something you know nothing about, francine -- botox. >> botox really works for me. >> nothing like a compliment on a tuesday morning. tom keene with the latest on botox. >>

arthur rosenberg and jeffrey thomas editor and chief of airline ratings.com. this is the original group we assembled eight weeks ago and you are back here with us. thank you for joining us. we will start with you, jim. some families have been question wlng searchers are looking in the right place. you share their skepticism, don't you? tell me why you think they may need to go back to the drawing board, jim. >> i never got assurance there was a strong scientific reason for taking the approach we are taking. i don't know what was the thinking involved when the decision was let's go south and ignore anything to the north. i don't think the idea of ignoring any part of a search like this because we don't know very much. it's one of these things that came up last week when someone made the statement we don't know anything. we suppose a lot. we have a lot of assumptions. we need to know something. i'm with the family on that. tell me something i can count on to be real. >> one of the family members on this show raised that possibility last night. david, do the resu