u.s. equities finished mixed on monday. it was a low volume day, the lowest of thethe leaders there, exxon mobil and 3m were on the >>> yeah, well, as you mention ed low volume day. asia somehow decided to go out of the gate and off to run with it. quite a bit risk on. japan erased most of the gain after the boj didn't come up with any big surprises. the post decision announcement was quite interesting in that they say they have no political pressure but it seems like based on what they have done which is expand some of the lending facility is for growth sectors. the big question is what they're going to do next and a lot of analyst have is been talking up this market as well. we'll talk more. take a look at what happened at the greater shanghai region, 0.9, the hang seng up 1%. a couple of factors. comments from the governor, there could be ample room for cuts. what did he say yesterday? china is not going to resort to rrr cuts to help shave monetary policy. the market consensus, looking for something like 150 basis point

u.s. equities, beccq, on friday. boosting some sentiment to the u.s. markets but then that was tempered by the isda ruling that a credit event happened in greece so it will be interesting to see how the undertones of the global market impact us today. >> indeed. we'll be analyzing all of that throughout the show, of course, here on cnbc so do stay tuned over the next hour for all of that. a quick check on how the european markets are shaping up as we start off the new trading week and although last week was a negative overall, there are three strong sessions to finish off last week, certainly on the equity markets and today we're starting mixed. the ftse and the cac are both slightly lower. we're talking a few points in each direction while the dax is moving higher. ftse may be more convincing up by 0.2%. moody's has warned the risk of a greek default is apparently set to remain very high after the bond swap. however in an exclusive interview with cnbcevangelos venizel venizelos played down the decision to class fly the plan as a credit event. silvia w

u.s. equities in particular. >> thank you so much for that. pleasure having you on the program. >> thank you, pleasure to be here. >> and we've been speaking with michael gapen, senior u.s. economist at barclays. >> susie: movie fans were hungry for "the hunger games." the science fiction action drama dominated at the box office this weekend and that gave a big boost to the studio behind the movie: lionsgate films. the stock jumped almost 5% today to over $15 a share. the movie based on a series of teen novels brought in over $152 million during its opening weekend, making it the third largest opening ever. the hunger games debut was topped only by "harry potter and the dealthy hallows part 2" and the batman drama: "the dark knight." and tom, the box office wasn't the only place that lion's gate dominated this weekend. its series "mad men" and i know are you a fan of it, returned for a fifth season on a m.c. last night. and that was winning its biggest audience ever 3.5 million viewers. i was watching. were you? >> i was not. hi some other busi

u.s. equities. when you're controlling time per cent of the daily volume of u.s. equities i think you have a lot of influence but the question are the super rich not influential enough over politics it's funny because the way you actually said that was if you later in the testimony has been saying we the people that really care about this country the ones that are most responsible for the welfare of the nation don't have enough food to help so the warren buffett argument is a good rhetoric we need to be able to help more just let us help you exactly do what we want to do in the financial market let's help let me help you i mean just raise your pocket just music a whole long we just take what does this this one was no no no no no i'm helping you yeah i'm helping you that's great you know we don't actually go after the hedge funds at all because. we're more in sense with the idea that the company be too big to fail and they have a government i phone has failed to such as fail but you know this is kind of this is absurd but this is the guys this has been kind of and h

time to look ahead to q-2 with chief u.s. equity strategist at ubs is going to open up his playbook for you. >> he's going to give us a lot of long shot as well. which i think will be fun. here's a look at the year-to-date performance of the s&p sectors. some standouts of course have been health care, technology leads the way, financials, consumer discretionary, utilities though down almost 3%. we have two car insurances that we're going to have you taste. the first one we're going to call x. go ahead and take a sip, and then let me know what the baby thinks of it. four million drivers switched to this car insurance last year. oh, she likes it babies' palates are very sensitive so she's probably tasting the low rates. this is car insurance y, they've been losing customers pretty quickly. oh my gosh, that's horrible!, which would you choose? geico. over their competitor. do you want to finish it? no. does the baby want to finish it? no. >>> welcome back to "power lunch." rick santelli on the floor of the cme group. you know, it's bee

meantime the u.s. equity market finished mixed on friday, although we did see some impressive weekly gains and important to note that the dow and s&p logged their best week since last december. in terms of the best performer, energy, materials, financials no surprise there. >> as you may have guessed, european markets are trading a little lower today, but the strong gains that we've seen recently, the markets closed on friday, many of these european indexes are looking at right now with red arrows had the highest closing levels since eight months or so ago depending which index you're looking at. so put it about in the context of the last few months, strong performances year to indicadate. dax down by nearly half a percent. ftse maybe losing just a fraction today. so some decline, but fairly modest. an auction will be held today to determine how much holders of greek credit swaps will be received. the auction expected to settle as much as $3.2 billion. the head of the international institute of says reforms a

the headlines from around the world this morning, in the u.s. equity markets reach multiyear highs, the nasdaq registering its highest close since november of 2000 while the dow breaks through 2007 levels. >>> the imf commits to a bailout while investors are expect ed t give strong support to today's spanish debt auction. >>> in asia one of beijing's rising stars, gets the boot sending political shock waves across china. >>> good morning. you're watching "worldwide exchange" with christine tan, beccy meehan. a look at u.s. futures and how we're poised for trade on wall street this morning. it does look like we're going to open higher. the dow would see a 21-point gain and the nasdaq higher by six is and the s&p 500 higher by two. this, of course, after stocks finished yesterday mixed after tuesday's big rally. we saw the dow closing at that high level since 2007, that was december 31st 2007. the nasdaq closing at its highest since november of 2000. the dow up for six consecutive days. we saw the leader in american express, ibm, boeing. they took us hig

u.s. equities. we like large cap stocks.e like a little more defensively, actively managed high dividend stocks, just because that gives us a yield push, and if things get choppy from here. we like the u.s. we think we'll go higher this year. not in a straight line, though. >> what other areas of the market would you be putting money into? adam parker was defensive today, basically said don't hold on to any cyclical stocks. >> we like emerging markets, high yields. it's getting a little bit rich but we're still happy owning it. and alternatives as well. and i like diversifying away from the dollar. >> i left my guy bob pisani hanging over here. >> the important thing is, it looks like a participation rate is going to be 75%, and maybe

u.s. equities derivatives business in europe, the middle east and africa. he also laid the blame on the destruction of the culture, which he claims used to be cut mer centric, and is now focused on purely making profits for goldman, even at the expense of customers at the feet of the company's ceo, lloyd blindfeen. >> how did he get an op-ed in "the new york times"? >> that's a good question. he submitted it and they accepted it, would be the short answer. >> a sexy story, an employee of goldman sachs blasting goldman sachs. >> they've been in a negative light over the last couple of years. one of the big wall street firms. it's received a lot of criticism from regulators. some of it were warranted probably. some of it unwarranted maybe. but nevertheless, it's become a bit of a lightning rod for criticism for those who have taken issue with wall street's practices. of course, we do want to note that goldman's ceo basically defended the firm's culture in a memo to employees. writing to the employees, you know, we believe everyone should have their opinion. t

u.s. equities. we talked before on the show that the dividend theme has been out of favor for about three months now, has been popular for three years. things have changed a little bit. you saw comments out of ge today thinking about raising their dividend to 3.5% now. the ten-year and 20-year not competitive with that. we saw colgate raise their dividend and general dynamics. when you can create portfolio of stocks wa 3.5%, 4% dividend yield in u.s. equities, you do have a little bit of exposure to europe, but why wouldn't you own those stocks. i think they'll be back in favor for the rest of the year. >> which is why jeff is saying yields in corporate bonds. >> not only corporates, but high quality corporates. they have the best balance sheets. when we talk about dividend themes, we talk about income themes. the income theme for fixed income for us is taking income in credit risk sectors, that's high yields, portions of investment grade as well. it's the best places today for investors to find inc

u.s. equities? >> it's really the latter. we actually think right now the u.s. looks in many ways the most attractive vis-a-vis the rest of the world. our asset allocation models are as u.s. centric as they've been in several years. we last summer eliminated exposure to europe and japan for obvious macro reasons. our models today are 75% to 80% in u.s. equities and 20%, 25% in the emerging markets. yes, you have to be very particular and selective. you have to focus on quality. we're looking in the large cap area at stocks that have strong free cash flow and that have the potential to raise their dividends successively for a number of years. in the mid cap space looking for steady growth stories as opposed to growth story stocks where there's execution risk. >> in what sectors are you finding those values? >> one of the things you're talking about today is investing in america. when we look at the industrial and manufacturing sector in the u.s. today, it's really quite interesting. at the macro level, 31 months in a row we've seen manufacturing growth in this co

u.s. equities broadly more bullish. >> yes. >> on the other hand, the view of u.s.ive. >> we had an all-time survey low. 80% of managers are bearish on u.s. treasuries. they're indicating they want to go into the slightly riskier asset classes and sectors like you said within u.s. equities, growth equities across the cap spectrum looked good. emerging market equities looked good. >> let's look at domestic sectors. which ones have gotten more bullish and which less bullish? >> this quarter technology was the top sector for our 13th survey in a row. managers love the tech sector and the opportunities they see there. but also energy and consumer discretionary had increases. the ones they don't like are the ones that really ran last year. those more defensively oriented -- >> utilities. >> -- utilities, consumer staples, don't embrace the risk forward. >> final thought on emerging markets. more positive? >> more positive this time in emerging markets. really, you know, i think the changes we're seeing from last quarter to this quarter really indicate that it's great to

and we certainly own for, on behalf of our clients significant amounts of large cap u.s. equity. and we think that equities are reasonably attractive at this legals. for clients that have a lot of cash on the sidelines as so many investors do, these are still reasonable entry points to get back into the market. >> sie: so tell us a littleit aut tt, yes, investors are sitting with a lot of cash. they are very nervous still. you heard our report about oil & gas lean prices. they are very concerned about things that are going on around the world. and so they're still sitting on cash. what are you telling them to do with their money, where should they put it? >> we're advicing clients to be diversified and that means owning some stocks but also some bonds. and in the case of the bonds, the one risk that really does concern us most is that interest rates could rise, the longer the economy keeps growing, the more likelihood there is that interest rates ultimately will start to back up and as that whats, bond prices will go lower. so we advice clients to maintain shorter than normal dur

u.s. investment trade and equities especially in the u.s. is that how we should trade our own stocks here, be concerned about what is going on overseas? our fundamentals are getting better here. >> yeah, very gradually. and we thought that was a good time to buy the international banks. even barclays is not expanding a lot. jpmorgan and citigroup, we think, benefits from that. we see no reasons to own bonds right now. so real interest rates are now negative. so we've said to people for a couple years, we want rock solid balance sheets. well, any time that you fear things, you want good balance sheets. but, for instance, we own at&t, that i haven't owned in forever. their yield is higher than the yield on their bonds. so we think there is room in there. >> the financials, for example, you're like one of those international exposure banks. are you going more defensive? is that what you're saying here? >> no. it's quite the opposite. in other words, it's a different type of rally that we think we have going forward. i think ron is right. i thin

u.s. equities since the growth is good there. and way would talk out the fact a lower china east grows make force cheaper gas prices into the summer driving season. >> susie: there is always a silver lining. thanks so much. >> thank you. >> susie: we've been speaking with nick colas, chief market strategist at convergex group. >> reporter: i'm darren gersh at the supreme court. tonight, we continue our look at the historic battle over the president's health care law. is it a sensible fix to a pressing problem, or a federal power play? >> tom: come summer, there will be a new number one at mcdonald's. c.e.o. jim skinner will retire after seven years at the top. the current number two, president and chief operating officer don thompson, will take over. over. erika miller looks at what this change means for the world's biggest burger chain. >> reporter: don thompson has every reason to smile, as he did back in 2008 when we spoke to him. >> we serve customers one at a time. >> reporter: thompson started at mcdonald's as an electrical

u.s. equities. equitys that have most of their revenue stream derived from isolationist areas such as the u.s. or asia, china specifically is a very, very attractive area to invest. >> and, peter, i think you're touching on something that at least in our view here on this show is very important because we've been highlighting this theme for the last few months, which has been the rest of the world's troubles. we had new data that shows home prices in many of the big cities in china are starting to rollover. we know what's happened in europe. and there is going to be a significant capital flight back to the united states. >> uh-huh. absolutely. but you also can't discount even though china is saying their growth is slowing, i mean, let's face it, 7%, 8% gdp growth rate is still a tremendously appealing growth rate. and i think a lot of investors are just looking at that headline saying it's slowing down. well, slowing down to say going from 80 miles an hour to 60 as a speed limit, you're still pretty

u.s. equities. what about the rest of the world? >> we've been very overweight u.s. large cap equities in particular. significantly underweight international developed equities. and pretty much equal weight emerging market equities waiting to see that inflection point. >> excuse me for interrupting. when you say international developed market equities, the word that comes to mind in my head is japan. >> japan and europe. >> and europe. and europe. >> uh-huh. >> what about the rest of asia? the emerging markets you do like, right? >> we like the emerging markets. we've certainly seen a slowdown in china. we were never on the hard landing bandwagon. we believe there's going to be a soft landing in china and a resumption of economic growth at a slower level. >> worried about inflation or not in the u.s.? >> in the u.s. we've seen inflation tick up for sure, but it seems well-contained. and expectations in the wake of high energy prices have maintained fairly well here. >> in terms of economies, which two do i want to watch for the rest of this year most closely? >> clear

u.s. equity futures at this hour, you're going to look there. the nas -- >> the nas?to act like gary would. what did you say, hugging the -- >> hugging the flat line. >> dow jones looks like it will open marginally lower. a new forecast says 90% of forecasters don't believe the federal reserve will wait until 2014 to raise interest rates, among the reasons, an improving economy and concerns of inflation. and holders of greek debt default swaps will find out how much they're going to be paid on the $3.2 billion of outstanding cds contracts. isda has already determined it constituted a, quote, credit event. most are expected it to rule the tolders are entitled to about $2.5 billion in reimbursement. european equities at this hour, you can see, ross, back home does this feel good to you? not so great but not so horrible either? >> we've been at eight-month highs, no surprise to see a little weakness. >> and how do you feel about the euro? i'm going to be in paris in about a month? >> euro dollar trading in really tight ranges. >> thank you for that commentary. and apple

looks like a bit of a rebound in store for the u.s. equity market. but anything can happen to these numbers over the next few hours. >> we've got about four hours to go, four hours, 15, before these u.s. markets get trading. >>> now, to the north sea where an underwater gas leak has occurred in the drill run by the french giant total. more than 200 workers evacuated from the platform about 240 miles off the coast of aberdeen in scotland. total hasn't said what caused the leak but has said it could take up to six months to fix. ships and aircraft have been ordered to stay away from the area where the rig is located, and the dutch driller shell has evacuated workers from two nearly rigs. shares in total took a really big hit, falling some 6% when the market closed. that dragged down the cac in paris. it's currently down again to the tune of about 3%, trading at a price of 37.40 euros. the cac is just managing to hover above the flat line, but given the performance by total the last couple of days, some of us saying that could be difficult to maintain t

u.s. equities finished higher on the back of that global rally. a couple of reasons for that, some optimism on the greek debt swap deal. also that "wall street journal" article about further quantitative easing still having an impact and the smaller contraction in japan's q4 gdp number helping the markets as well. ross, how is it bearing in china right now? >> seasonally unadjusted fourth quarter 2011 is gdp contracted 7.5% and that's worse, worse, than the flash estimate of 7%. so the greek economy contracting in the fourth quarter by 7.5% which has been the point here on the day that we're going to get a psi agreement for the next bailout money. the point is with growth like that, with the contraction, we don't even mention the word growth but contraction like that what hope is there to fulfill the terms of that bailout in meeting future deficit targets? and i think that's the point. yes, we have gotten this agreement today. yes, that is quite good for risk but it seems almost impossible greece is going to meet any part of its future bailout so

u.s. equities market. it will begin trading on its own exchange today. todd, what is your take on this? we saw three ipos come to market yesterday that did quite well. a lot of appetite for this out there. >> i think people are looking for bats to go and we're getting action because there's money on the sidelines champing at the bit to get into the market and explode. you've noticed that the overall markets, the volume has been pathetic and low and i think people are waiting for these opportunity its. they're remembering in the '90s halves t that was the place where you could make the quick hit. so i think it's a good sign for the market which i think is a lack of volatility and the market is continuing to churn higher because there are good signs out there. >> when we look back to the late '90s, people have that money on the sidelines and they want to invest in something. are you worried they're not looking at the fundamentals of the companies? >> i think that's a big case. everyone haeears ip ocht and typically at the beginning it works. fundamentals don't typically come in right away

and they were up 10% and u.s. equity look at the sector performance and to go with the strong and laggards and i don't necessarily think and with technology and financial, those two having been driving the upside. we still think because of the weakness this is just a revaluation of where they are. if you look at the flip side, customer staples, they are lower so far into the year. >> you know, the play last year and early this year, still to buy those dividend-paying companies, the utilities are a classic dividend payer. why haven't they performed better? >> if you look at investors looking for the yield, they look expensive. you look as the sustainability of dividends and that's pretty attractive i would say there's a reversal but they look at how they can grow the difference into the future. >> technology, that's been the sector for all seasons, hasn't it? >> that is true. >> how is it possible with the leaders in that sector that can still be attractive as an investment right now? >> there are significant pockets when

those u.s. equity futures are improving as we go through the morning.es up by 30 points. this is a turnaround from early this morning when they were indicated lower. and it comes after a day yesterday when the markets did close down, down by 53 points yesterday. >> and now a cnbc exclusive steve wozniak reacting to apple hitting $500 billion in market cap just a short time ago. brian sullivan sat down with the apple co-founder at the ypo global leadership conference in singapore. wozniak was the keynote speaker there. cnbc and the young president's organization have launched a broad new partnership so could the woz ever have imagined that apple, a company he and steve jobs co-founded in jobs' garage, would ever get into that elite half a trillion dollar club? >> $500 billion market, did you ever believe that apple could reach half a trillion dollars in market cap? >> i have to be honest, i'm an engineer. i don't keep track of -- i don't want to worry about money and amounts. >> reporter: you are a stockholder and you are still an honorary employee of th

current u.s. equityd open up about 79 points lower, s&p 500 would be off about ten points as well, there you see what's going on with the new open. >> and we thought the bond yields in italy indicated that the worst had passed and then you -- and here we are again. >> down 300 points. you think this is noise? >> i don't know. greece the contagion wouldn't stop. i thought we had a fire wall. >> we don't have a fire wall. >>> it's the election season today and the gop are hoping for a decisive victory for the elections. will we have a nominee by the end of the day? with us is kevin madden, he served as mitt romney's press secretary in his 2008 presidential bid and i was surprised, kevin, because kelly ann came in and said, yeah, it will be romney because he's got -- >> 119. >> out of how many? >> he's 1,000 short, 1,025 short. >> i have told you sarcasm is -- you were being sarcastic? >> some of the same people who have been talking a year about romney's inevitability can do so. we need the voters in the n

chief u.s. equityve been cautious on this for a while now. does it make you even more wanting to take profits at this point? >> it does. i'm not tempted to chase the beta rally. i think people are very optimistic about the economy, whether it's housing or and counter to what the fed wants them to do, perhaps sensing a continuing recovery in our economy. normally you wouldn't want brent, wti up at these levels. our work shows two months lagging from rising oil is when the risk of version kicks in so we're near a rollover because of higher oil. so i think there's mixed signals and i don't think it's pure risk on. >> i think it's going to be mixed it. i don't see a lot of upside at earnings season. in january it came down. analysts were forecasting 114 bucks in earnings. now it's 105. they have taken the numbers down and i think that's still an issue but we'll see how it pans out. >> adam parker,ou

u.s. equities. the focus has been on a lot of the emerging markets and europe. was on one of my panels earlier this morning. he thinks that's an interesting development because he's not bullish on markets. there's a credit bubble and he's most bullish on u.s. markets. he thinks it's one of the bullish years we've seen in some times and he's underweighting he emerging markets. that's against the lion's share of the analysts and investors here looking for yield and

the u.s. equityg of the year was that the s&p 500 would get to 1400. that was one of the high if not the highest estimate on the street. >> we're trading at it as you speak, sir. >> yeah. so there we are at 1400. it isn't even the end of march yet. i definitely think the market can sell at 15 times $100 or 1500. so i still think we have higher highs ahead. >> what about the bond market after so many false starts? do you think it's crunch time now? after the sharp selloff we had last week, do you think there's a bubble there that's about to burst? are people at risk in the bond market? >> well, you know, i've been a bear on u.s. government securities for a long time. so i'm very flattered that you still ask me that question. i think that the right low, if there is such a thing, for the 10-year u.s. treasury, is the equivalent of the nominal growth rate for the u.s. so that would be, say, 2% growth and 2.5% inflation. or 4.5%. we're a long way from there. but i think the 10-year treasury can reach 3% s

institutional investors are either coming back in, or at least preparing themselves to come back into the u.s. equity market. >> if we see some of that money from the sidelines come into this market, john, you have to believe that's going to be a big move on the upside for stocks. >> it sure is. look at the -- when you see the flows, and how many people got out of the market u the equity markets, there's a lot of money on the sidelines. so liquidity could be there. and hopefully as confidence builds, that's when you'll see the flows start to change. >> one thing that you mentioned a moment ago was valuations. i really want to get into this. even though we've got a market that's up 13% on the nasdaq year-to-date, up on the dow jones industrial average year-to-date, the valuations you say still look attractive. >> what's really curious about it, it seems like when the market pulls back, all the stocks go to about the same pe. and you can't tell the difference between a growth stock like apple or a real traditional value stock. and then as the market gets confidence, you see that spreading out. and so w

u.s. equities. they're about even on that, about 18% are decreasing, about 21% are increasing. they're trying to get out of u.s. treasuries. that's where endowments used to put a lot of money. at a 2% ten-year yield, there's no way to make that 78% nut with a 2% yield. >> i know it well. interesting how they're looking at emerging market. the ugly stepsister last year looks like cinderella. up next on "street signs," not dead yet. microsoft and dell surging this year, so is apple really killing the pc? we're going to debate that. hold on to your hoodie mark zukerburg, why they're calling them the modern barrons. that's also coming your way. ( there's nothing wo >>> >>> yahoo! is searching for gains today. come score says it trails google and microsoft. it's sixth consecutive monthly decline in market share for yahoo!. when apple ceo tim cook announced the new ipad last week, he talked about a post-pc world. yet today ibm is trading at an all-time high and dell and microsoft surging this year as well. are the reports a bit premature. joining us to evaluate the pcs, senior resear

u.s. but the ecb with the ltro certainly took that issue off the table. would i argue we've already decoupled. the chinese equity in the last 12 months, so, yes, the u.s. is a closed economy. only 12% of exports are a part of gdp. we can definitely decouple and would argue we already have. >> when you look at the upside/downside on ud gdp, joe, credit suisse said consensus on gdp is too low and my thoughts is gdp is too high. when you look at how oil prices affect the gdp assumptions, that's your high/low? >> i'm the high end. you're right. high gas prices are a risk to growth, raises a deflator and takes ahold of the commodity economy very quickly. the labor market is better. a powerful offset there. offset maybe a third of the gasoline rise by lower electricity and natural gas use so that's been a powerful offset and, of course, rates are low. yes, you're supposed to be worried about energy, but right now gdp for the quarter is okay, close to 3%. we're going to get a big lift in defense spending. most people don't know that and consumer spending looks okay, given where we are on auto sales. >> if you go back t

and with the outperformance of the u.s. equityt, we're starting to see a transition from treasures into equities. now that the european situation has stabilized a little bit there's less of a safe haven bed for u.s. treasuries. >> risk on as we know it is weak dollar, higher commodities, higher stocks. >> i agree. but in the current environment, we have so many countries looking to employ monetary stimulus between the bank of japan and the s&p as well. the dollar is becoming the least attractive of the funding currencies. >> what about the yen? a lot of talk in the market over the last couple weeks over where the yen has been and where it may go. >> i think the yen, we should continue to see it go lower. the trick is can the bank of japan regain its credibility as a deflation fighter. if you look at the growth as groeg higher than expected, closer to 2.4% as opposed to the normal .5%. they may have more measures in order to expand the money supply. higher oil prices. higher electricity prices. >> right. >> these things are going t

u.s. equities for the rest of the year., that what you mentioned on emerging markets will produce quite a bit of chop in emerging markets. most u.s. invest to recalls are very underweighted. i would use the volatility and the negativity i expect from the factors you mentioned to accumulate emerging markets equities so u.s. and emerge rg the areas i prefer. >> even if the correction was 10%, 15%, 20% in when you say chop, what would that look like? >> 10%, 15%, even 20% is possible. if that happens in emerging markets, don't lose your nerve because for five or ten years they're a good place to be with the emerging middle class in greater economic freedom and my two themes in equities. i'm more confident short term of the u.s. and longer term accumulating emerging. >> oil prices, you say probably more related to concerns of more qe than anything regarding iran. >> yeah. no. i think that's what pushed the oil price up until last week and weaker this week. i think the run-up up until last week is much more to do with fear over