lisa: joining me in new york is subadra rajappa, and rachel golder, and coming to us from london is lukekmore. alright, so i want to start with you, subadra. the big question is, has the selloff in benchmarks just begun, for is this the extent of it and will people pile back in? subadra: that's a good question. i think that there is still more room for bonds the selloff from here. we have seen them pricing higher over the last few months. and i think that we could probably go a little higher. but ultimately it depends on where the the fed funds rate is. the funds rate is still around 2% to 3%. i don't see a big upside from here. lisa: what is the threshold at which people will pile back into 10-year treasury yields? they are at the highest level since 2014. we are seeing high levels here. subadra: you can see drips and drafts of demand from overseas. the yield differentials between yields in the u.s. and overseas is quite large. and i think we can see demand again from pension-type accounts because the back end of the curve looks relatively cheap. so, i think you will see demand as we re

lisa: joining me in new york is subadra rajappa, and rachel , and coming to us from london is luke hickmorewant to start with you, subadra. forthe selloff just begun, is this the extent of it and will people pile back in? subadra: that's a good question. i think there is still more room for bonds the selloff from here. they seem to be pricing higher over the last -- in the last few months. i think we could probably go a little higher. it depends on where the funds rate is. 3%.s still around 2% to i don't see a big upside from here. lisa: what is the threshold where people will pile back into treasury yields? they are at the highest level since 2014. we are seeing high levels here. subadra: you can see drips and drabs of demand. the differentials is quite large. i think we can see demand again because the back end of the curve looks relatively cheap. i think you will see demand as we price higher. lisa: is there a tipping point? subadra: for how high they could go? we have yields ending the year close to 2.7% or 2.8%. we don't see that much room for deals to sell off from here. lisa: luke, y