. >> you just said the kuna announcement could help timmer. why is that? because it helps clear any allegations? what is the benefit there. >> because the move by the congress to remove president rousseff by an impeachment, argument against that and kuna a person was leading the charge against president rousseff and this association with kuna wasn't very good for him. with him out of picture he'll at least have the claim of something. so removes an unwelcoming partner in all this and possibly support for timmer in congress from those tellemer. >> if that government falls now, how far right do you think potentially that brazil will move given the strength that we've seen in some of the outlying more right wing parties? >> well i think it is not necessarily going to move extremely to the right because the two parties are the -- [inaudible]. i think rather that temer will at least come with an initial support for two or three months. or the central right. the pmdb has never been a clear right wing party move to the interest so not necessarily to the right. th

. >>> joining us the jurrien timmer. first thing you look to determine direction of futures?the dollar? any central bank commentary? this is our twitter question of the day. we want to hear from you. >> the first thing i look at is the dollar. because everything is either positively or inversely correlated to the dollar. if the dollar goes down, liquidity conditions ease up. that is a risk on thing usually and if the dollar depogoes up i means the financial conditions are tightening. at least that's been the dynamic over the last year that's a key indicator here. >> and that a broader index or is it the major currency loose tick euro and yen. >> i like at the broader burglar. i don't like the dxy. the broader has all the currency in it. and that's a good proxy because a lot of stress has been creating the policy divergence between central banks, putting pressure on the yuan. that's been a driver during the risk off over the past year. and yes the broader dollar. >> rhetoric from the fed? >> it moves around for different reasons. the underlying problem is we have a policy dive

joining us from boston is jurrien timmer director of global mac crowe at fidelity investments.s for being with us. what say you, sell in june and go away? >> normally, basically from may to november, at least till october is the weakest part of the year. but right now, i don't really see the ingredients for that. the two major indicators that led the market on the way down which were oil price and high yield credit have both been leading on the way up. so, i'm not seeing evidence from there. also, earnings are down five quarters in a row. so, you know, it may not get much worse than that. i don't really see the immediate negative catalyst to drive us down here. >> jurrien, have you been surprised with how we equity markets have taken talk of a rate hike coming sooner than expected? >> i wouldn't say i'm surprised but clearly there's a game here like a dance between the fed and the markets. the fed is testing the waters to see if the market will give it the green light to go. and so far, the answer has been a very big yes. the s&p is back at the highs of the range. even though t

thank you, timmer for joining us. >> it's a pleasure. >> they're talking scott wren. that will be interesting with scott wren. >>> now, financial technology is shaking up the banking industry. up next we'll talk fintech and some of the hidden risks. >>> later carnival is cruising to cuba. we'll go aboard the first cruise ship to travel toll cuba in more than 50 years. >>> and later tim cook is sitting down with jim cramer to talk china and a whole lot more. that interview ask coming up at 6:00 p.m. eastern. keep it right here. you're watching cnbc, first in business worldwide. t hearing th. t hearing th. charge! so why would you invest without checking brokercheck? check your broker with brokercheck. i'm in charge of it all. business expenses, so i've been snapping photos of my receipts and keeping track of them in quickbooks. now i'm on top of my expenses, and my bees. best 68,000 employees ever. that's how we own it. they found out who's been who? cking into our network. guess. i don't know, some kids in a basement? you watch too many movies. who? a small business i