vmware reason $6 billion in its offering.ally in high yield, carnival returning to the market, pricing new bond yielding at 4% coupon down from 11.5% last year at the height of the crisis. lisa shalett, greg peters, ashok bhatia are with us. 4% coupon for 11.5% last year. after all the talk happening with the market, fears of overgrowth, what does that tell you? greg: what a difference 12 months make. there are a billion reasons to be positive on credit. the challenge ultimately is one of valuation. we are in this credit repair phase, coming out of the lockdowns. that is quite positive for corporate credit writ large. the challenge, ultimately, is are you getting compensated for the quality and default risk. that gets more challenging. ti lisa -- to lisa's point, that is where the excess liquidity is going. it is not being forced in the u.s. treasury market as much as it is being placed in the corporate credit market. i think that is an accelerator where spreads are going, where they've been. jonathan: lisa? your take. lisa:

can't seem to maintain any constant positive momentum >> i would rather own dell than i would vmware with michael dell let's go to john in arizona. john >> caller: hello, jimmy. how are you doing? >> i'm good. the chill is fine. how about you? >> caller: doing all right a lot of rain out here >> same here >> caller: okay, i have a stock -- >> vero, they have to show the better data. they have to go out of stage two and into stage three if stage three is as good as stage two for what they're doing in cancer, the stock goes much higher that, laidies and gentlemen, th conclusion of the lightening round. >> the lightning round is sponsored by td ameritrade >> coming up, cramer breaks down how the white house can help a key u.s. ally and stare down its ongoing chess match with china next it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim

that is a good point because there's part of vmware u.s. real rates are still moving lower.is selling off very aggressively because the global story is driving a lot of these factors and commodities that have come off. for em, what is going to matter weston duds -- matter once the dust settles is which central banks are hiking, which governments will pick up the deployment of vaccines in non-china em. which countries will benefit from a pickup in terms of trade? we know prices are suppressed right now, but there's not enough supply to match the demand we will see as we see oil prices move higher. this dollar move is creating value in em. so russia, brazil, korea, those are three currencies that look like on the others had of this washout could be very attractive for all of those factors. jonathan: around the world with mark mccormick. thank you, td bank global head of fx strategy. i will repeat what i said and why it is so confusing for so many in this market. the dollar pushing 93. at the end of march we had the highs of the year on the 10 year yield. now we are pushing tow