, up four basis points and approaching 150 paid the perfect guest to start this week's coverage, jim caron. what are we doing near 150? jim: good morning. there are a couple things going on. one of the reasons why yields were so low was because the treasury general account had been drawn down. that is technical speak for saying there wasn't a lot of net issuance of treasury over the last couple of months. today, all of that is starting to change. a lot of things are changing leading to higher yields. we will start to get net positive supplies, more positive net supply coming to the markets. that and the fact that we are getting closer to a deal on the deficit. then the question becomes, -- i'm sorry a deal on the infrastructure bill and then the question becomes will it be deficit financed. that is another argument for higher debt into the future. the third point is tapering. the fed has announced aggressively at the fomc that by december they will probably start tapering. all of the factors that were keeping yields lower in the second quarter and part of the third quarter are starting to

we heard from jim caron, he is only suggesting you get so far back. jonathan: this is the question.he tolerance level of this equity market for high yields. how self-limiting will a selloff actually be? for the nominal yield, i don't know. is it pushing 2% for the real yield? we got to ask the guests that question. tom: $80 brent crude, we are almost there. lisa: and what is the effect on yields? because there is a sense that higher oil prices lead to higher inflation, but at the same time, it will crimp people's spending ability. this is not necessarily good for growth. i am trying to understand the ramifications for the economy. tom: green on the screen. as you mentioned earlier, the nasdaq off higher yields takes it further south, negative 0.7%. jonathan: off the back of that, we look at the equity market. on the nasdaq 100, down 0.7%. it is in big tech you are starting to see this play out a little bit or. we are softer thereby a big margin compared to where s&p is right now. tom: morgan stanley was a markdown on amazon. what does that meant to the end of 2022? it still advances

jim caron and jeff crumpleman. >>> bitcoin dropping at much as 10%, all of this of course after sec chairy gentzler warned that crypto is a wild west asset class rive with fraud and coinbase dropped its plans after a spat with sec. joining me is michael sundeshine it is great to have you. you have the bitcoin trust product for the time being i don't know if you want to offer general thoughts on how you think over time crypto should be performing as an asset class? >> well, it is great to be here, kelly. i think there's zero question in investor's minds crypto can occupy a slice of their portfolio allocation and it is not just bitcoin investors have increasingly been diversifying their cryptocurrency holdings. i think the sec and regulators have a tough job at the moment the ecosystem around digital assets is evolving very, very quickly, and even as early as today the chairman had commentary that once again invited industry participant into the sec to discuss the products and services they're offering and stated the sec has the authority to regulate crypto >> right which, you know, he seem