and skyler montgomery koning of ts lombard. you look at the conflicting signs and the data.omething's starting to weaken. yields have been interesting in the shorter end of the curve. even though we saw it go lower last year, we have been wavering around the 4.8% level. where do you think we go from here? >> i'd like to find more than the backend -- >> i like the front end more than the backend. three more scenarios, one being the most likely, which is rates move higher, retest the 5% peak that they reached in late october amidst the increase in treasury issuance of notes and bonds. that is the most probable scenario for me. last month's employments report, -- last friday's implant report opened up the possibility we can get a string of weak ligament -- the labor market data that would allow the fed to start using process, which would painlessly diss advert the curve, bring the banking system back into all of that issuance, in terms of them participating. and the lease probable scenario for me is we just muddle through and the fed does not cut but rates don't move. i think t