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Hi, and welcome to the Longview. I'm Jeff Battack Chief Ratings Officer for Morningstar Research Services.

And I'm Christine Ben's Director of Personal Finance and Retirement Planning for Morningstar.

Our guest this week is Michael Santoli. This is Michael's second appearance in the Longview, his first coming in August 2021.

Michael's senior markets commentator at CNBC, which he joined in 2015.

Prior to that, Michael was a senior columnist at Yahoo Finance, where he wrote analysis and commentary on the market and economy.

That followed a long stint at Barron's magazine, where Michael was a columnist and feature writer for 15 years.

Michael began his career in the early 1990s as a reporter covering the securities industry for Dow Jones Newswire's.

He earned his bachelor's degree from Wesleyan University.

Michael, welcome back to the Longview.

Well, thanks very much.

Good to be back with you.

Well, it's our pleasure to have you back.

We wanted to start with the fixed income market and yields at more than 4.3% of the 10 year at the time we speak. That's the highest we've seen yields since 2007. If I'm not mistaken, you know, given you're a keen observer of the stock and bond

markets, we're curious to know what message do you take away that you think the bond market

is trying to send to investors?

Well, for one thing, the message from the Federal Reserve that they anticipate keeping

...