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Peter Shear, talking about similarly November as an incredible year,

head of macro strategy at Academy security is an incredible year that may or may not be

repeatable in the coming year that is December. How much do you lean against some of the moves that we saw last

week Pete? So one I'm starting to lean against Treasuries a little bit I think

420 is a little bit too low given the data I don't like the fact that either 10-year

real yields are right around 2% or 5 year break evens are back to right around 2%.

And if last month's Fed meeting was really about the market had done the work for the Fed,

this month's meeting is going to be about, well,

the market undid all that work.

So I think rates have got ahead of themselves.

On the equity side of things, I think we've seen for the last couple of weeks this move where

...