All right, sir, thank you very much and welcome everybody to overtime.

I'm Scott Walkner, you just heard the bells.

We're just getting started on this Friday from Post-9 at the New York Stock Exchange.

In just a little bit, former Dallas Fed President Richard Fisher on whether today's jobs report and

that big news on wages is a game changer for the Fed and your money.

He'll tell us.

We'll begin though with our talk to the tape.

This surge in stocks, as some say, a soft landing just became more

likely. Is that right? Let's ask Verdes Investment Partners, Chief Market Strategist

Joe Terranova. He is also, of course, a CMBC contributor sits next to me here right now at post nine big move

nice to see you big move lower in yields today especially the two year stocks

obviously surging and that's part of the narrative soft landing more likely is

that legit or not okay so when did that happen let's remember something at 945

this morning the market was basically unchanged.

When yields broke down, 10-year went from 372 down to 355 was when the services figure

came out, which was weak.

Which was weak.

It went into contraction territory. I understand there's weather issues but you're below 50 at 49.6.

That's the lowest level since May of 2020. It's signaling weaknesses in the economy.

All right, so let's tackle the soft landing premise for a second.

Soft landing, really?

Nasdaq down 30%, high yield down 15%, investment grade down 11% in 2022 municipal bonds down 8%

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