economist tiffany wilding. it is kind of like a national holiday these days for bond traders looking at the bond support. when you saw softeners in the labor market it was pretty stark relative to what expectations were on the consensus. when you see this weakening, what is the risk things we can at a faster pace than people expect? >> it is funny. when we look at labor market data in more detail today we see what was a still reasonably solid report underlying all of the bond market reaction today. look at the details. government jobs have been quite strong. they were surprisingly weak. that contributed to a decent amount of the miss. we think the data will be revised. the government can be a little sketchy in how they report. it does tend to get revised. this was a headline payroll number a little above 200 k. ultimately we are still seeing pretty solid trends. on the three months moving average basis we are above 250. a little under 250 on a six month moving average basis. that is a labor market i would say i

let's welcome tiffany wilding, economist at pimco, and joe lavorna, and director of hamilton projectngs institution. our own steve liesman. steve, you were on the right side of this one in terms of suggesting it could be cool. >> 51%. all i'm looking for in terms of my accuracy. all i got to be. one better than a flip of a coin. i will say we got there at a somewhat surprising layup. surprising to hear what joe and you think about this. not you, joe. the other joe. >> i'm sorry. >> finish the sentence, by the way. new vehicles down 3.4%. used to be down more. thought ending that deflationary impulse. down 1.4%. owners and renters not help from that area everybody thought would come down. 0.4. same at last month. still hope that could come down a bit more. motor vehicle insurance thing still up strong. 1.8% on the month after what was it? 2.6, 2.8 last month. airline fares down. medical care attenuated a bit. i wasn't on the right side of the trade. the market was. look at the ten year this morning, coming down. so was the two year and got a little more -- what does this do? doesn't g