tom: we had neil dutta on optimism. can synthesize what is going on, given all the gloom research notes. the world is coming to an end, did you not know that? jeff: perhaps people are getting a little bit gloomy, but what is really going on is you are starting to see a bit of a shift from the mid-february recovery, and a lot of that was fueled by a weakening of the dollar, pulling back from bad expectations. and we are getting to shift that. a lot of people are dismissing the economy getting week because of the headlines. the problem is that people get more optimistic on the u.s. economy, that means that you have to bring the fed back in play. the financial markets do not like the idea of the fed raising interest rates because of the impact. tom: it field is price and inflation is directly linked to yield, are you concerned about high-yield? it is not there. inflation is not there, is it? jeffrey: inflation is not the worry. the worry is deflation. deflation is a much worse outcome for financial markets than inflation.