Guy Dami is not here today, Danny, but you're here, and I appreciate that.

I'm pleasure to be here, but right. We're a little fired up here today.

Like, the market's moving, and it hasn't been moving a whole heck

a lot of late you know we talked about this yesterday guy and i when we started last week the vix

was at like 13 we were heading into a week where you know we had the biggest equity in the entire market

this was apple was going to be reporting and we had vix at levels that were just like really really

depressed here and so it's just kind of interesting that here we are a week later.

I know it's Summerman.

I know it's August.

I know that people just kind of don't seem particularly bothered about too many things right now.

But what do you like what's your like vibe right here?

As you think about the markets, we have the S&P down about a percent today.

We have the NASDAQ about 1.3 percent.

We have a Vick. It's now 17 and a half or so. Not much going on with yield. Yield.

Yield curve is still inverted to tune about 75 basis points or something like that.

What's your mood here, brother? I'll tell you what happened. Being away last week is actually

helpful because it creates a better vantage point, I think, for things. And so I go back to the Bank of Japan. I go back to 10 days ago and thinking about what they did in the yield curve

that they moved the yield curve control from 50. So let's just do this really quickly. Just explain to

our listener, if they're right here right now and they've been hearing about YCC yield curve control,

what does that mean and why is it caused about a volatility across a lot of

risk assets in the last week and a half? Let me talk about it philosophically and then I'll talk about

what it means. This whole global central bank liquidity started with Japan 40 years ago. Yes.

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