Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintenea with Jim Kramer, David Faber, Post 9 of the New York Stock Exchange.

Future is stabilizing here after Wednesday's losses as the House narrowly approves the tax bill and the long bond yield hits an 18-year closing high.

515, 10-year yield highest since February.

Our roadmap begins with stocks said to add a bit to Wednesday's losses as the GOP tax bill

now goes to the Senate.

Investors fear a worsening U.S. deficit that 30-year hitting the highest level since October

of 23.

Plus, we'll talk a bit about Tesla and some of its troubles that despite, of course, the recent rally in the stock, sales in Europe are falling. They're 23. Plus, we'll talk a bit about Tesla and some of its troubles that despite, of course,

the recent rally in the stock sales in Europe are falling. They're falling behind China's

B.YD for the first time, in fact, last month. And it's another potential blow to Apple, why

Open AIs deal with the iPhone designer Johnny I should be, or maybe, a wake-up call.

Let's begin with market reaction to this House approval of the President's tax and spending

cuts bill after yesterday's sell-off, Jim.

Your general thesis has been once you push through this, stocks recover, even if yields stay

at these levels.

First of all, all that has to happen is Treasury Secretary Best and say,

you know what, we're not going to fund long end. We're going to fund short. Look, the guy was in the market for 35 years. The same thing he gave Yelling a hard time about it. Yes, yes. He was in 35 years. And David, you know, anyone who's been in the market 35 years knows that if you're going to hit the long end, don't hit the 20 year for heaven's sake.

That was about as stupidest, that was stupid as plywood.

But you're going to be the long end, don't hit the 20 year for heaven sake. That was about as stupidest, that was stupid as plywood. But you're going to be able to

lower, if you decide to borrow short, then this overhang goes away. And by the way, at one point,

we had a dramatic decline in bonds and high, and of course, higher interest at at 720 when nothing had happened other than

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