the market correlations between equities and treasuries has gone back to the traditional norm. there's massive risk aversion taking place, and you run into what is somewhat a safe haven, the treasury beti think the fed remains focused on financial conditions, and so does the market. if financial conditions are tightened due to sharp equity volatility, you may have a slower fed. george: uncertainty is the new certainty. the idea of trade tariffs and the headline of the day impacting equity markets but hasn't bled into the fixed income markets, and i think it is smart and strong for the next income markets to look more strategic. jonathan: what has been intriguing for a lot of people in the market, stocks can get hit as hard as you like to the week, and two-year treasury yields will barely move because so many people have concluded the fed is not going to change , course on what is going to happen on the equity market and the fed is not changing course based on what may or may not happen with the u.s. or china, at least not anytime soon. is that the right view? george: i think it is and we will learn more when chairman powell gives his speech. our expectation is the recent noise in the

the ten-year treasury. we have had -- if you're an s&p 500 kaemcompany, you had the bet of yields rising, yet the u.s. dollar moving lower. that seems to be reversing that's something you want to pay attention to because if we see a further rise, do we see the dollar lift?

downside,ll on the 11% this morning along with you keep that makers save the treasury is recommending the maximum stake for the bettingto two pounds. we should get a final decision in the next few weeks. those bet makers are down big time. 90%.ibre, is up nearly agreed to buy into tapping growing demand. this is a deal and a vote of confidence for investors with that stock up more than 89%. guy: thank you very much. europe, s&p in numbers look strong, and that stock is doing well. go to the center of the story, alphabet posting the strongest growth in four years. capital expenditures going into the cloud. , totech giant is splurging play catch-up. joins us.olumnist how would you rate their chances of success to spend money to catch-up up in these critical areas? >> i think you have to recognize the cloud, there is high turnout. you get a new iphone every few years. building.is if you are a small to mid cap company you can plug into that platform and you are likely to buy google cloud product. the likelihood of you wanting to change an iphone for a google pixel might be quite good. have we learned about where google is

children and their needs to be some plans to deal with it she has a relationship with the treasury secretary you can betomething they are going to talk about >> thank you, sara it can all end very badly one day. there are some frustrations at the fed. 5 of the 6 reserve governors have been appointed by president trump, but will a a new fed board have the marketings back for the next crisis? steve joins us now with more on that >> a wave of unprecedented change coming to the fed and the question is is this. the latest nominee richard clart is praised for expertise in knowledge of markets john williams has been named the most important bank president of all. and the fed chair that typically is at the center of running fed policy but the markets are wondering does the fed have its back most say yes, but it's going to be different next time they have praised the response to the financial crisis and the nomination was clear that he would use the fed's tools in a crisis, but that doesn't mean it's going to be easy. the politics of intervening are horrendous and far worse than they were the last time around be

used to have >> we don't own treasuries just for the return we own treasuries because they act as balance olast which wille us the ability to add more stocks. >> you can bet if oil bumps over 70 bucks we're all of a sudden talking about that every day the impact on the consumer, gas prices >> i disagree with that. i completely disagree with that. oil prices since 2014 have traded well below their historical norm. and we heard about the advantage that was going to bring to the consumer where did we actually ever see that where did we actually see consumer spending benefit because oil prices for three years stayed at a very low level? >> i think because spending kept up >> no, no, what was the actual benefit from energy prices falling? did consumers say, okay, i'm saving less money at the gas pump i'm going to pay that credit card debt >> you can't tell me that higher gas prices are a net neutral >> gas prices are normalizing. they're normalizing to what they historically have been >> scott, gas prices in today's world, given the american reliance on energy, higher gas prices could be in the positive for the economy. i say that because i remember when gas p

the ten-year treasury. we have had -- if you're an s&p 500 kaemcompany, you had the bet of yields rising, yet the u.s. dollar moving lower. that seems to be reversing that's something you want to pay attention to because if we see a further rise, do we see the dollar lift? we know the story for that in terms of looking forward in s&p earnings >> let's assume we're going past 3%, barring some shocking thing. how is the stock market going to take all that? >> the stock market has not been taking it well >> highest level in four years >> absolutely, but as we saw some velocity behind the rise in yields occur the last few days, the market has been off. not taking it terribly by any stretch of the imagination, but what it has so far is muted the positive earnings news we have so the bet is this as we get into the heart of earnings season because we just saw the warmup, that was bullpen. as we get into the heart of it this week and next week, that's when the battle takes hold the betting is earnings overcome the move above 3% yields i'm in that camp however, all bets are off if we see velocity continue to b

the treasury secretary soon making an announcement. one of the jobs the people that work for the president is to take the fall and my bet, i don't mean this to be the case. there was vaslation on the president's part on the right thing here. i'm worried about a plan about to get green lighted. why did that all of a sudden get scotched? i'd love to know the story behind that. >> good question. we will try to work it. why not? >> reporter: thank you, wolf. just ahead, more reaction to what james comey is saying. i'll talk to you about the national director of intelligence, james clapper. he was in the room with comey, mr. trump was briefed on russia's election meddling. >>> somerset daniels reveals the man who allegedly threatened the porn star, she says, her lawyer says as well, that this so-called thug has an indirect connection to the president. we are hearing from daniels about the newly-released sketch and the threat she says left her shaken. . >> he had a something in his pocket. i looked at my daughter, i remember him saying, it's a beautiful little girl, it would be a shame if something happened to her mom. forget about this story,

the 10-year treasury yield, 3.03%. highest since 2014. inflationary worries. everyone here on wall street betting we get a rate hike in june. social media earnings on front, on tap. we heard from twitter. that stock moved higher and then lower. right now down about 3%. concerns about revenue going forward. slower user growth. then "after the bell," facebook. so much after cambridge analytica. that will weigh and everyone watches for that one. facebook is negative. we'll have it for you here on "after the bell." for a quick look anybody traveling, looking at travel stocks,try view go, expedia, small market cap, i have to note that. record low, down 2 2%. hurting this company. currency headwind. cost and pressure associated with advertisers. maybe people are translating that to some of the other travel companies. right now that is a big move for trivago. trish: thank you, nicole. supreme court is hearing arguments on the president's travel ban. this is first test on the president's policies. what the justices are saying about the ban might take some by surprise. we'll fill you in. >>> later in the show, bernie sanders says he

the for runner of what's been happening in twitterer you -- you >> thanks for nothing, beneficiary of globalization beneficiary of documentation >> who got information of amazon i bet you he knows the post. >> i won't tell you. >> treasuryecretary mnuchin is going to be on "power lunch" at 1:00 we'll watch for that and the news on tariffs and a lot more when we return going after amazon again, the president says it is time to take a look at policy changes related to the company a lot more on the jobs number. 200 points swings for eight of the last nine days back in a moment we've been helping you prepare and invest for retirement since day one. why would we leave now? because i'm retired now. so? we're voya. we stay with you to and through retirement... with solutions to help provide income throughout. so you'll still be here to help me make smart choices? well, with your finances that is. we had nothing to do with that, uh, tie. or the suit. or the shirt. voya. helping you to and through retirement. at&t provides edge-to-edge intelligence, covering virtually every part of your retail business. so that... if your customer needs shoes. ...& he's got wide feet. ...& with edge-to-edge intelligence, you've got near real tim

the largest currency etf, a bet on a stronger dollar. very steady downtrend. down about 10% on a 12-month basis. >> that's a devaluation game. >> exactly treasury secretary mnuchin'shis idea that you want to warn other countries not to devalue against an already weak dollar is kind of a ratification of a policy, you might think. you see that weak base this is basically mimicking the u.s. dollar index. if you want to see the inverse of this, the udn is a way to play the dollar falling. that's basically been a mirror image up 10% on a year-to-date basis. more interesting is against the individual currencyies. you also have these single currency pair etfs out there, including fxe, basically dollar/euro. the eur o has been extremely strong, confounding expectations, up about 15% in the last 12 months that's also, you see there, kind of plateaued a little bit. this is basically chinese currency in dollar terms you see there, that's the value of the chinese currency climbing. >> all this happening as the fed continues to talk pretty resolutely about maintaining pace of hike this is year. >> exactly and, of course, some may be arguing that the real target of the presiden

bet. robots in your home. we are going to be live in san francisco with the details on that. betty: skittishness in the markets over the 10 year treasury yield, moving up to the 3% level. what is going to happen once a crosses that level? a big question for the markets today. that might be why, if you look at this chart here, the fear index is jumping, as you can see on the right. the fear barometer, which according to credit suisse, measures the price of bullish to bearish options. it is showing a spike. the fear coming into the markets. some of that related of course to the geopolitical tensions but also related to what we have seen in the treasury market. yvonne: treasury market is going to be dominating the news. we are really close. we are flirting with 3%. we did not quite hit that mark. there is a lot of company specific issues as well. aswere talking about tech well. it seems like investors are still not quite impressed. betty: they were not indeed. what was quite impressive was how mike pompeo seemed to pull out the nomination from the senate foreign relations committee, voting last minute here in favor of pompeo to be the nex

>> grass dries rocket surgery treasury yields right now are starting to look like maybe now's the time, some day, that we see a three handle, 2.919. >> would you put a betbly not. i've learned pavlov's dog, the boy who cried wolf general electric, though, reported results today morgan brennan joins us now. want to see -- is the stock still -- yeah, added to its gains, 5.25 of a percent. >> the reason here is that expectations were low in this report largely they beat the expectations 16 cents per share 28.7 billion in revenue, also better than expected the company reaffirmed its 2018 guidance, a lot of folks were coming into this expecting we might get another cut on that guidance so that was taken very positively a dollar to a dollar seven earnings per share for 2018. 6 to 7 billion in industrial free cash flow now, free cash flow adjusted free cash flow for the last quarter as well for the first quarter coming in at negative 1.7 billion. but that is according to ge in line with their plan, and it was 1.1 billion better than it was a year ago did take a reserve charge of $1.5 billion that is related to the wmc investigation, the pre-crisis subprime mor

bet. >> outlook on trade with china delegation next week, new report that chinese companies are already reconsidering investments in the american market, as steven mnuchin treasuryis counterpart in vino next week founded the parent of apple joins to talk facebook he quarterly results predicts company would beat his take on the company's surging revenue and where it goes next. ♪ ♪ yeah ♪ ♪ ♪ dance, yeah -- ♪ ♪ ♪ ♪ jeff and susan are heading into retirement. and market volatility isn't top of mind. that's because they have a shield annuity from brighthouse financial, which allows them to take advantage of growth opportunities in up markets, while maintaining a level of protection in down markets. so they're less concerned with market volatility and can focus more on the things they're passionate about. talk with your advisor about shield annuities from brighthouse financial- established by metlife. it can power your apps with public services without starting from scratch. it brings your business up to speed, doing more with systems you have in place. it can bring all your apps to life and run them within your data center. it is... the ibm cloud private. the cloud