printing and stock prices going up higher and higher and higher and higher here's a tweet from tracy alloway another analyst warning of the flow lis rally citi group joins goldman and j.p. morgan and warning the equities rally hasn't been matched by inflows into equity funds buybacks not investor inflows now drive the us market and you know for me if i look at this it goes exactly with that contain the fact in the central banks printing money only allowed to go to a certain segment of the population is we have a flow list's economy the money is not circulating we have you know the. circulation the velocity of money is that all time lows like money is not leaving their hands that can griffin so the world are just buying two hundred fifty million dollars properties and he'll pay five hundred million for the same property next year as long as it keeps going up and has a safe haven for it it's not going to flow into the economy right the money philosophy is dead right so the money velocity would measure of how money is being alone doubt from bank to bank to bank to bank to bank which is a measur

this is tracy alloway who created this one. tracy focused in on three months versus 10, so what you're looking at here is the gap is the tightest now since 2007. if you look at any of these curves, it all makes the same story. this is something that might irk the fed because the one thing they don't want is a series of inverted curves, do they? jun: no, absolutely, because that discourages investment. when the future rate is almost today,, lower than it is it is signaling a recession. we saw that across some parts of the yield curve of the risk taking place. at this point, we do not see that as a real risk because economic data is still not weak. there was some seasonal impact with the employment numbers, but the slack has been improving. the wage growth is taking place. it is just there is a bit more uncertainty in the world. we want to see the trade deal taking place. we want to see potentially brexit to sort of region and. -- reach an end. and there it is. you have the business investing again. manus: don't worry. you will ge

manus: this is a complement to one of our editors, tracy alloway.n volatility, it is on a 3-d map of volatility. the important thing here is when you look at where is the risk, it shows you the risk across time frames, this is one week, volatilityu expect among more volatility? the market seems to like what it sees at the moment in terms of softer brexit but do you expect this to ratchet higher in the new term -- near-term? : it is dependent on the outcome of the vote. suggest to the u.k. what sort of options a perverse because part of the discussion that will take place in brussels is to ask the u.k. what is it that you want? these are like divorce proceedings. they have become rancorous and fractious. see a- the eu wants to clear option from the u.k. and so far we have not seen that. as long as you do not have that, you're going to see a lot of volatility in the pound. the market is looking for a good outcome and we are waiting to see. i speak to a lot of people who say that investors are waiting on the sidelines but waiting to put money to work i