The Fear Trade: Microsoft and the Dollar

There's clearly some concern we're going to get pushed up to I think the 11th hour and Terry Duffy was on one of the shows this morning by the way see me at a great quarter talking about exactly that. If Microsoft is as good as it gets an earning season could be in store for us next week. The VIX has not traded that since the start of 2022 when the S&P 500 was at 4800 here, right now just below 4100. 10 year US treasury yield contending with this three and a half level maybe psychologically that's an important sort of level but that's not particularly bullish to me okay because if you are buying treasuries because you're in