joe, and steve weiss are here on the desk. pete santelli is in the pits in chicago monitoring the plunge if yields. we do begin with stocks. investors looking for some answers. if the s&p keeps going up why do bond yields keep going down? what about tech which has staged one heck of a rebound in may? let's take all of that to the panel. we begin with rick anrates. rick, what in the world is going on with yields, 244 today on the ten-year. >> you nailed it, 2 hoin.44 is low here. if we close here we will comp back to june when we closed that the a yield. think about one week from tomorrow, ecb meeting. imagine for a second that our central bank, the biggest, most power phil central bank in the world advertise, took out billboards all over mntd that we may have to ease again. we may have to lower rates again. we may have to do more stimulus again. what type of message would that send? that's kind of what the second largest central bank is doing. i think that is part of the reason you are seeing this rush into sovereigns. thens that spain. hovered at 2.82 yield. pick a spread. whatever that spread is, it probably on a relative value trade pushes yields and u.s. down eve