With Bloomberg you get the story behind the story, the story behind the global birth rate,

behind your EV batteries environmental impact, behind sand. Yeah, sand, you get context.

And context changes everything.

Go to Bloomberg.com to get context.

Who you put your trust in matters.

Investors have put their trust in independent registered investment

advisors to the tune of $4 trillion.

Why?

Learn more and find your independent advisor.com. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene always with Michael McKee.

Daily, we bring you insight from the best in economics, finance, investment and international relations.

Find Bloomberg Surveillance on iTunes,

SoundCloud, Bloomberg.com and of course on the Bloomberg.

It has been a quiet on Wall Street this summer. Our single best chart is the Vicks and I introduce

a presidential moving average of 48 months, four year moving average on the Vicks.

The blue in the background is just simply the Vicks, always volatile, but down we go through

that 20 level.

Stuart Werther is with us us working with Dennis de Bush

or Ed Hyman at ISI years ago now with BMPPareba.

What does the quiet mean to derivative in quants like you at B&P Parabah.

Color the nature of the quiet that we're in.

I would say a couple things, one of which being

we've entered this period following the feds taper tantrum rhetoric

...