RUSH TRANSCRIPT With that ░░░░░░░░ is big reaction in ░░░░░░░░ bond market Take a ░░░░░░░░ at this terminal The ░░░░░░░░ year yield is having ░░░░░░░░ biggest weekly move higher ░░░░░░░░ over a decade and ░░░░░░░░ are now coming off ░░░░░░░░ three straight weeks of ░░░░░░░░ 27 basis points 19 ░░░░░░░░ then this week 33 ░░░░░░░░ points on the week ░░░░░░░░ Wow Really changed Taylor ░░░░░░░░ your kind of a ░░░░░░░░ Let s talk with ░░░░░░░░ Daoud CEO of ameriprise ░░░░░░░░ s opus Advice first ░░░░░░░░ your take on an ░░░░░░░░ way when you know ░░░░░░░░ cross as that implications ░░░░░░░░ been phenomenal but really ░░░░░░░░ bond markets want to ░░░░░░░░ an eye on Nancy ░░░░░░░░ of course I think ░░░░░░░░ is confirmation we should ░░░░░░░░ get too concerned about ░░░░░░░░ short term volatility or ░░░░░░░░ headline du jour so ░░░░░░░░ speak because eight rebounds ░░░░░░░░ fast as it declines ░░░░░░░░ was noted that two ░░░░░░░░ ago marked the anniversary ░░░░░░░░ below of the pandemic ░░░░░░░░ the indices the NASDAQ ░░░░░░░░ S P have more ░░░░░░░░ doubled in those two ░░░░░░░░ and the dow Jones ░░░░░░░░ up maybe 86 or ░░░░░░░░ It is just great ░░░░░░░░ that hind in the ░░░░░░░░ is so much better ░░░░░░░░ so much more effective ░░░░░░░░ trying to tighten the ░░░░░░░░ in the short term ░░░░░░░░ Taylor The long term ░░░░░░░░ is that economists are ░░░░░░░░ through the rest of ░░░░░░░░ year we could get ░░░░░░░░ rate hikes through the ░░░░░░░░ Reserve How do you ░░░░░░░░ about that impact on ░░░░░░░░ Nancy It is very ░░░░░░░░ that will happen because ░░░░░░░░ Fed really has been ░░░░░░░░ of the curve My ░░░░░░░░ is that the market ░░░░░░░░ already pricing all of ░░░░░░░░ and I mean the ░░░░░░░░ year treasury yield it ░░░░░░░░ now maybe north of ░░░░░░░░ 5 I think we ░░░░░░░░ to be very cautious ░░░░░░░░ the yields especially we ░░░░░░░░ to still stay with ░░░░░░░░ term yields But if ░░░░░░░░ goes north of 3 ░░░░░░░░ maybe it is going ░░░░░░░░ be an opportunity again ░░░░░░░░ look at long term ░░░░░░░░ So these are things ░░░░░░░░ consider All in all ░░░░░░░░ think it is being ░░░░░░░░ in already Taylor What ░░░░░░░░ you want to see ░░░░░░░░ longer yields before you ░░░░░░░░ stepping in and maybe ░░░░░░░░ on some duration risks ░░░░░░░░ I would say north ░░░░░░░░ 3 and some consistency ░░░░░░░░ a number of weeks ░░░░░░░░ you know for a ░░░░░░░░ or two Again timing ░░░░░░░░ markets is never a ░░░░░░░░ effective thing It is ░░░░░░░░ like gambling almost Caroline ░░░░░░░░ anyway many have felt ░░░░░░░░ the 60 40 while ░░░░░░░░ they are moving in ░░░░░░░░ directions but really the ░░░░░░░░ part of that portfolio ░░░░░░░░ been dire to say ░░░░░░░░ least in this particular ░░░░░░░░ Where are you finding ░░░░░░░░ Nancy Nancy The bond ░░░░░░░░ has always been a ░░░░░░░░ diversifier and if nothing ░░░░░░░░ at least less of ░░░░░░░░ roller coaster ride for ░░░░░░░░ so you are not ░░░░░░░░ up and down with ░░░░░░░░ market So it does ░░░░░░░░ risk and volatility and ░░░░░░░░ people s stomach linings ░░░░░░░░ little more secure But ░░░░░░░░ with interest rates rising ░░░░░░░░ will be new opportunities ░░░░░░░░ that arena as well ░░░░░░░░ now it is pretty ░░░░░░░░ or negative Taylor How ░░░░░░░░ you think about the ░░░░░░░░ you are getting from ░░░░░░░░ credit market when spreads ░░░░░░░░ starting to widen Some ░░░░░░░░ worried about the underlying ░░░░░░░░ and then some of ░░░░░░░░ of course reversing Nancy ░░░░░░░░ is still very early ░░░░░░░░ tell but like I ░░░░░░░░ once it reaches the ░░░░░░░░ north of 3 then ░░░░░░░░ can begin to take ░░░░░░░░ look at the opportunities ░░░░░░░░ as of right now ░░░░░░░░ still would say stick ░░░░░░░░ shorter term yields and ░░░░░░░░ very very cautious in ░░░░░░░░ bond market Taylor Cautious ░░░░░░░░ the bond market but ░░░░░░░░ you look at the ░░░░░░░░ market where do you ░░░░░░░░ the most opportunity right ░░░░░░░░ Nancy I am always ░░░░░░░░ very big fan of ░░░░░░░░ technology sector There is ░░░░░░░░ much innovation going on ░░░░░░░░ will always be opportunities ░░░░░░░░ pandemic has really accelerated ░░░░░░░░ and you are certainly ░░░░░░░░ going backwards in this ░░░░░░░░ so there is still ░░░░░░░░ very big upside there ░░░░░░░░ because it has pulled ░░░░░░░░ significantly since November so ░░░░░░░░ is a great buy ░░░░░░░░ In consideration of inflation ░░░░░░░░ is what we are ░░░░░░░░ now I would say ░░░░░░░░ estate housing commodities materials ░░░░░░░░ are all very very ░░░░░░░░ opportunities Taylor We appreciate ░░░░░░░░ Nancy co with ameriprise ░░░░░░░░ opus Advice first thank ░░░░░░░░ so much for your ░░░░░░░░ Coming up we will ░░░░░░░░ sticking on the inflationary ░░░░░░░░ Bloomberg news editor and ░░░░░░░░ emeritus Matt weekly says ░░░░░░░░ There is evidence they ░░░░░░░░ not – says there is