kathy jones, is that something you even have to think about over the next week? we have had a few surprises recently when it comes to the international diplomacy. and obviously, the big thing we worry about is the trade outlook. because that has the potential to impact global growth and fed policy and central-bank policy and inflation, etc. but at this stage of the game, we tend to shrug these off quickly. jonathan: because they take so long to burn through, jay. and i guess the markets looking at the situation thinking, is a breakdown of diplomacy a risk to the global growth story? does it derail global growth? does it? jay: from our perspective, we do not think it does what has been -- does at this point. and with what has been announced on trade so far, it takes a little off of u.s. growth this year but nothing that changes our view on inflation or the fed or those developments. that is the first order of events for us. jonathan: andrew, is that your view? andrew: it will matter next week because people like to focus on these things -- jonathan: the front page

with me around the table, and the touring, kathy jones, and ay berry -- andy chorlton, kathy jones, anday berry. what we have to think about over the next week? obviously, the big thing we worry about is the trade outlook. that has the potential to implant -- impact global growth and fed policy and central-bank policy and inflation. at this stage of the game, we tend to shrug these off quickly. jonathan: because they take so long to burn through, jay. diplomacyeakdown of and is that a risk and does it delay growth? jay: from our perspective, we do not think it does what has been announced on trade, it takes a little off growth from u.s.. it doesn't change the view on trade and the fed. jonathan: andrew, is that your view? andrew: people like to focus on these things and they like a reason to justify a market move. trade shouldn't matter, but you never know what the final result will be -- should it matter, but you never know what the final result will be. youthan: which one would pick? kathy: i do not expect much out of the other two for noteworthy information. it will be information ho

joining me is andrew chorlton, kathy jones, and jay berry, head of u.s. vernment bond strategy at jpmorgan. it is great to have you. kathy, this is a broader asset class story. not a single idiosyncratic theme we had a month ago. kathy: global liquidity is shrinking and we were not priced for it. in severalerway months ago because valuations were too high. as the fed tightens, this is what happens. risk premium starts to expand and it is where we are. alix: -- jonathan: do you see signs of contagion? mohammed talked about technical factors. are you starting to see the technical bleed through? the startcrowded at of the year and you have the own elect scenario and you could justify it. now technicals are turning and investor greed has really driven it. jonathan: jay, it is interesting that they were asking for a basic call that the federal reserve and the balance sheet and treasury boosting issuance at the moment because of the fiscal stimulus is overwhelming double liquidity. it is taking away from emerging markets. they complained on the way up and are co

. >> we will talk economy and what it might mean for stocks joining us, kathy jones a fixed income strategistab skrerpt for financial research jeff is in studio with us today. chief investment strategist at raymond james studio mustache, it's been a while. >> it's been a while during this bull mark. you are still bullish? >> yeah, sure am >> you were talking to kathy in the green room >> yes >> did you get her any more bullish at all in i've talked to her in the past. i can't get her to move the last time i think it was the economy, pre-trump was doing well, tax reform won't make much of a difference, was that it? >> no, i don't think so. >> are you -- what are you for the gdp for the year >> we're getting up closer to 20.8, something like that. >> is that new for you >> the tax cuts and spending bill will clearly give us a boost in the short run i think we're in the same camp most economists are in a shorter run a one, maybe two-year event rather than shifting up potential growth >> it looks like a pure front-end loaded game, it doesn't structurally change by corporations do business here. t

jones. those are the best movies. you have kathy giffin flipping the bird, deniro is going off.h us. he said now i'll my feed will be filled with snowflakes, he called us snowflakes. >> i'm glad he knows about our constitution. like, you are allowed to say what you want. we are allowed to be offended by your behavior. someone will get hurt, this is my fear. you have the mainstream media backing people up on the nazi thing. msnbc host saying, yeah, they are nazis. we have to pump the breaks. someone will get hurt. i hope i'm wrong. people warn me about being on this show. comedian be friends saying be careful, you have a family to think about. i'm telling jokes from a different point of view. >> we are inviting you back. >> this is where the country is. it's a sad place to be. >> we are watching two different movies. >> thank you for coming on and providing your prospective. >> thank you, someday i'll be on the couch. >> you are welcome. >>> coming up, we are not done yet. we are celebrating summer on the plaza. a birdie told me he was going to take on the slip in slide. being de