. >>> our next guest admits he hasn't been bullish enough tony dwyer joins us. good to see you. >> great to be here. we haven't really gotten it. still haven't changed our target it's still there i guess by definition, that means i wouldn't chase the next tick two weeks ago, i'm next to my buddy howardhuge here, who is buying financials, and we were talking about bond yields, and the world is coming to an end. today we're wonder if financials have run too quickly i beg viewers to stop looking at every tick like it means something. umpts people get nervous we haven't had a correction for such a long time. >> so let's quantify it. 309 days, the longest streak that i can find going back is 369 days, this is the second longer by a lot. so the historical odds are you'll have a pullback i do look for a correction, judge, but as you know, i don't care what i'm focussed on is 2018 every headwind we've had has become a tail wind people wonder wife we've had -- it's permanent if europe is failing, if modsity in china -- as tim has pointed out are not the strong dollar has

tony dwyer is also with us. what's the relationship of d.c. and regulation with equities right now? sector rally or the rotations, the trump move. it had nothing to do with him. what been driving the analysts the last nine months has been the fact of the republican agenda and companies now know the regulatory environment is not going to get worse. that is such a huge deal. when you are trying to make capital spending decisions for the next three to five years, you've got to know you won't get increased regulations and taxes that may offset that cost save or the improvement in the company's capital spending plan. i think it's a big deal and why all the capital spending surveys coming out, whether it be small businesses or the fed capital spending survey, they are all making highs on the spike because of the regulatory environment. jonathan: thank you very much. the opening bell coming up next on bloomberg daybreak. futures just down as they continue that trend higher. almostted price gains two points now on the s&p 500. this is bloomberg. ♪ ♪ jonathan: counting you down to chair yell