nasdaq out performing by 28 points joining us now is patrick fruzzetti. the tape doesn't tell you what happened all week long. tell me, in your mind, what has been the most important development for the markets this week is it the fed and the interest rate forecast for the next couple of years? >> thanks for having me, dom two days ago, the fed raised expectations for inflation for the year and brought forward th timeframe of when they expect to raise rates given the 2023 number they gave tapering, but no indication of timing we have seen the dollar strengthened materials and precious metals sold off a bit rea rea reality, the fed is wtalking an not walking. since the beginning of the pandemic, the fed is really bought over 50% of total u.s. treasury issuance. if total u.s. treasury issuance of $4.5 trillion, they bought over 50% that is an astronomical amount of money this is really the only game if town we expect that to continue we don't in the long run to expect the fed to raise rates. that's where we are today. >> okay, i'll take a couple of steps ba