. ~ extractions item number 6 is a resolution granting revocable permission to jeremy ricks to occupy a portion of the public right-of-way to extend an unimproved portion of greenwich street with a privately maintained driveway to provide access to a new garage at 1281 - 1283 greenwich street; to install additional landscaping and public access improvements within the unimproved portion of the greenwich street public right-of-way between hyde and larkin streets, conditioned upon the payment of an annual assessment fee of $4,433.00; and making environmental findings of consistency with the general plan and the priority policies of planning code, section 101.1. ~ greenwich street >> thank you. you can continue, please. >> as i was stating, in this case, san francisco state being a good steward, determined they want to provide local pedestrian safety to access different areas of the campus across winston drive. they applied for a permit to install a pedestrian tunnel that interconnects the two portions of san francisco state. they have applied for the major street encroachment permit has

mark from russell investors joining me, neil, jeremy hill, and our own rick santelli. good to see you guys. thank you very much for joining me. jeremy, let me kick it off with you. your specialty is credit. what are you seeing? >> actually, when we look at credit, we think credit, or bonds and rates, is probably the biggest risk to the equity market right now. there's no way you can avoid an equity market kind of tanking on the back of a much higher rates environment. so we see that as a huge risk. just look at the mortgage market, what's happening. and also look at corporate issuers that have to refinance. we think that's going to be a disproportionate risk to the market going forward. >> yeah, look at the $40 billion that came out of bond funds and mutual funds and etfs bond, the etfs just in the month of june. does that continue? >> well, there is, you know, great rotation. we've been talking about it. >> yeah. >> since the beginning of the year. >> money is not necessarily headed to equities. >> that's right. >> we're waiting to see if it happens. >> that's right. t