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I'm now to the top analysis of today's markets.

It's QT dead. Hi, everyone. Welcome to the real vision dally briefing with me today is Tony Greer, editor of the morning navigator newsletter and Michael Howell CEO cross border capital.

Hello to both of you.

Thank you so much for being here. It was a crazy weekend. We got off to start Monday. There are a lot of nerves, but things seem to be settling down a little bit.

But I'd love to hear both of you are thinking about the market Tony. Let's start with you and look at some of some of the sort of near term what we saw today.

This is an interesting day wasn't we had regional bank stocks recouping some lawsuits, the major US indices up, although I have to look at where they said all because it has been a little bit whipping around a little bit, bond yields stabilizing.

What's your sense of the market action we saw today?

Well, the bond market volatility is still expanding and we're still trying to figure out some of these historic moves on the tape and I think that they're the most important moves.

I think we should, you know, focus a little bit on them. You know, we just saw the curve snapback from Tuesdays. I'm talking about from minus 110 basis points on March 8 to minus 40 basis points yesterday.

We had fed funds trade from minus five excuse me from 5% on Friday to 4% on Monday.

So these moves are absolutely massively historic. We saw a massive potential reversal in two year yields.

Right. We had the Powell testimony that ticked two year yields up to a new high for the move of 506.

And then we had the Silicon Valley bank blow up tick them all the way back down to a low of, I guess, you know, below 4%.

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