around theoining me table is subadra rajappa, kathy jones, and rob waldner. kathy, when we start a week with sentiment like this, the next week things look the other way and we are vulnerable to a squeeze. are we vulnerable now? kathy: it doesn't feel like it. the squeeze was people were not prepared for this. anyone who was in heavily in leveraged fixed assets has been squeezed out. it doesn't feel like it because there is no magic wand here. and comeg has to peak back down. that is likely to take time. thethan: one person at table feeling pretty good about life, subadra rajappa. started the year with a target on a ten-year at 1.20. everyone thought you were crazy. we are not far off of it. subadra: this is very different from what we experienced in 2003. pandemic.ars the size of the chinese economy is much larger, coming at a bad time going into the new year's celebrations, and it is now worldwide, impacting travel as well as growth. jonathan: it's been a big issue comparing 2002 22020. let's clear this up, you cannot compare china from 2002 and 2003 2 2019,

this is kathy jones at charles schwab weighing in. kathy: we don't like the ccc area.he reason is, you have to have this constant flow of liquidity and turnover in refinancing in those companies. after the big rally, anything that gets in the way of that could cause some real problems in the sectors. jonathan: ken, your thoughts? big rally, what now? ken: you have seen a big rally, and you had an enormous lag up until december. ccc's rallied until december and then have continued, outpacing high-yield so far this year. having said that, i think this is an overly conservative prediction. if you look at the ccc market in particular, there is a large portion that is energy-related. she is correct, a large number of those companies need access to the capital markets to survive. within the bbb space, there's also an enormous number of companies that have very specific, idiosyncratic risk. you have to look at those individually rather than say all ccc's have too much risk or refinancing risk, we will ignore them. jonathan: the joke is that everyone always thinks they hold th

plus kathie jones is here to tell us how to play the bond market yields down nearly 10% over just thee a look at futures one day after the dow saw the worst session since early october. you're watching squawk box right here on cnbc this year... the world's most spellbinding journey... will take its wildest turn yet. prepare to face the forbidden forest and join hagrid to encounter... the rarest of magical creatures. in the epic new addition to the wizarding world of harry potter™. only at universal orlando resort. stay at an amazing universal hotel with rooms starting from $79 dollars plus tax per night. restrictions apply. car vending machines and buying a car 100% online.vented now we've created a brand new way for you to sell your car. whether it's a year old or a few years old, we want to buy your car. so go to carvana and enter your license plate, answer a few questions, and our techno-wizardry calculates your car's value and gives you a real offer in seconds. when you're ready, we'll come to you, pay you on the spot, and pick up your car. that's it. so ditch the old way of selli