we will go back to michael hansen. julie hyman has the latest on the markets desk. as expected, given this implication that the fed is closer to raising rates at this point, in other words, we are seeing stocks come off their highs to some degree. that is sort of typical if you're going to take away some degree of stimulus, although there is a lot of debate over what effect it will have paired we have seen stocks come down a little bit. they are not negative at this point. if you look at the intraday of the s&p 500, you get a clear picture of what has been happening in the wake of the minutes. if you take a look at the in's -- the minutes on an intraday basis, you see a leg downward. just go straight to the u.s. dollar. you are expected to be taking a leg up in the wake of these minutes. indeed, that is what is happening. up by about half of 1%. the 10 year yield, which should already be rising ahead of the minutes is now rising even more. so going up to 1.84 percent. and the two yield, which is also sensitive with was going on with the failed -- the fed, we are see

furthermore, let's bring in michael hansen. it is great to have you with us. se about what we might learn from these minutes today. michael: i think the key is to look how the fed is assessing the, both globally and inflation outlook. about junembers talk versus july versus later? it is probably less useful now, three weeks later we have had commentary from other fed officials already. david: you are talking about later yourself, rtu? you're not thinking this will -- aren't you? you're not thinking this will happen in june. good,l: the data is very concerns around the u.k. referendum will have to fade. david: do you expect there to be a tonal difference in the minutes we get today and the statement we got immediately after the meeting in april? michael: there is a risk that there will be a significant minority of members who are much more willing to get going with the rate hiking cycle. there is a bit of a split in the committee. that has been reflected in some of the speeches we have seen the last few weeks. the minutes could highlight that. do you see a growi

juilana summer, jim lazaras, rubin and hansen lee, and kelley, mikwuchlt el, and lina tan, and michaelummers. >> >> supervisors, tang, and yee and weiner, my name is juliana summer and i am the president of the graphics and a small, micro-lbe here in san francisco and i also sit on the board of directors for the contractor association as well as the lbe advisory committee for the city. i want to put a finer point on the issues that supervisor weiner had brought up, the lbes, are quite a bit nervous that this ordinance will put us at a disadvantage. when it potentially in the future we are going to be compared against the larger contractors. you know, we are in an up turn economy right now, whatever goes up, must come down. it was not too long ago that you know, in 2008, we were competing against the contractors in the you know, the very high range that were competing against us for the million dollar contracts. and you know, these big companies can weather those down turn economies. they have full time marketing teams. they have full time cfos. we don't have those teams, we have part t

juilana summer, jim lazaras, rubin and hansen lee, and kelley, mikwuchlt el, and lina tan, and michaelummers. >> >> supervisors, tang, and yee and weiner, my name is juliana summer and i am the president of the graphics and a small, micro-lbe here in san francisco and i also sit on the board of directors for the contractor association as well as the lbe advisory committee for the city. i want to put a finer point on the issues that supervisor weiner had brought up, the lbes, are quite a bit nervous that this ordinance will put us at a disadvantage. when it potentially in the future we are going to be compared against the larger contractors. you know, we are in an up turn economy right now, whatever goes up, must come down. it was not too long ago that you know, in 2008, we were competing against the contractors in the you know, the very high range that were competing against us for the million dollar contracts. and you know, these big companies can weather those down turn economies. they have full time marketing teams. they have full time cfos. we don't have those teams, we have part t

juilana summer, jim lazaras, rubin and hansen lee, and kelley, mikwuchlt el, and lina tan, and michaelummers. >> >> supervisors, tang, and yee and weiner, my name is juliana summer and i am the president of the graphics and a small, micro-lbe here in san francisco and i also sit on the board of directors for the contractor association as well as the lbe advisory committee for the city. i want to put a finer point on the issues that supervisor weiner had brought up, the lbes, are quite a bit nervous that this ordinance will put us at a disadvantage. when it potentially in the future we are going to be compared against the larger contractors. you know, we are in an up turn economy right now, whatever goes up, must come down. it was not too long ago that you know, in 2008, we were competing against the contractors in the you know, the very high range that were competing against us for the million dollar contracts. and you know, these big companies can weather those down turn economies. they have full time marketing teams. they have full time cfos. we don't have those teams, we have part t