joining us now is john ryding. good to see you, john. >> good to be here, sue. >> let's start with the pbattle that seems to be brewing between the stock and bond market. we saw interest rates go down this week, which few people expected. what is the bond market telling us is going on now? >> if you were to look at what the bond market is saying, you take out inflation, look at real interest rates. they're falling. that's usually a negative growth signal. same time, stock market's hitting a record high, which is a positive growth signal, so, these two markets are ott odds with each other and the equity investors are looking at the bond market, does the bond market know something we don't? when the markets are record high, there's an element of rethinking that my assumption is correct, but if you look at profitability, profitability's strong. if you look at the economy, we are bouncing back from this harsh winter. we have some good numbers on housing. we've had some good numbers on employment. i don't think that the