jonathan: jim polson sounding bullish. futures down. the nasdaq down just half of 1%. e are recovering. i like what jim says about how far down our way. is it a correction. are we going to go to standard deviations. what you see here on the bloomberg launchpad is it just lit up like a candle with the red and green blinking. he sort of just see the pulse and i go to the russian -- and you sort of just see the pulse and i go to the russian headlines. putin asked lavrov if there is a chance to agree on key issues. that's the pulse that we are following across the bloomberg world. jonathan: there has been a turn. let me identify where we are seeing that. the equity benchmark was down by more than 3%. so we are off the lows on equity futures and yields are turning in the treasury market as well. so your yield curve is still flatter but two's are picking up now. tom: the vix under 30 gets my attention. jonathan: from new york city, this is bloomberg. ♪ >> president joe biden told ukrainian leaders that the u.s. and its allies would react swiftly and decisively if russia or to