lisa: joining us now is a fantastic panel, kathy jones, morgan stanley, and brian railing. kathy, i want to start with your sense about what we saw this week. you were right when you called a bond yield that fell on the long and in the wake of news on tapering. do you think it will stay that way? kathy: i think in the near-term it stays that way. the reason i hold that view is our history. whenever the fed has pulled back on accommodation, ending q. week, talking about tapering or actual tapering, we have seen yields fall because it sends a signal that we are one step closer to tightening. they take pain to say that tapering is not tightening but the market takes it as a signal that the that is pulling back. that tends to flatten the curve. i think there is room for them to follow a more from here, although i think the reality on the ground is they are very low. to say that they have peaked for the cycle is too early to say but i think we will see bond yields come down may be as low as 1.35 or so, adjusting for the reality of the fed shifting gears. lisa: that is a big deal.

jonathan: kathy jones at charles schwab, i will catch up with kathy little bit later on, so that mighte until august or september when you see the big jobs gains. it's back, tom. tom: commodities are up. jonathan: beautiful. 4225 on the s&p. tom is here all week. this is bloomberg. [laughter] ritika: with the first word news, i'm ritika gupta. president biden wrote out plans directed at reducing the black-white wealth gap. he will unveil those today. president biden is expected to offer proposals aimed at boosting homeownership and helping minorities own small businesses. china is taking the biggest step yet to rein in a surging yuan. it effectively reduces its supply of dollars in other currencies on shore, and puts pressure on the you to begin. two -- iran says it hopes they 2015 nuclear deal can be revised by august, before -- two big private equity firms are taking cloudera private. they will value cloudera at about $5.3 billion in the all-cash transaction. that would represent a 24 percent premium to its close. the activist investor is carl icahn. global news 24 hours a day, on ai