| well first of all immediately there were | 3.52 | Jump to 28.8 |  |  | 
              
                
                  | zero but we got a lot of messaging about | 5.121 | Jump to 34.239 |  |  | 
              
                
                  | nearly nine trillion dollar balance | 3.76 | Jump to 69.2 | 
                      
                        
                      
                        MONEY
                      
                      
                        nearly nine trillion dollar
                      
                     |  | 
              
                
                  | doesn't want to describe it one way or | 4.08 | Jump to 151.28 |  |  | 
              
                
                  | again is still prevailingly for a 25 | 4.24 | Jump to 174.48 |  |  | 
              
                
                  | mid-march 88 | 3.439 | Jump to 178.72 |  |  | 
              
                
                  | but take a look at the 12 percent of | 4.4 | Jump to 180.4 |  |  | 
              
                
                  | people that are calling for a 50 basis | 4.241 | Jump to 182.159 |  |  | 
              
                
                  | something to watch about six weeks from | 3.04 | Jump to 186.4 |  |  | 
              
                
                  | this morning um that showed that 6.9 | 4.961 | Jump to 195.599 |  |  | 
              
                
                  | in the fourth quarter | 3.44 | Jump to 203.04 |  |  | 
              
                
                  | happened in the fourth quarter in terms | 2.799 | Jump to 208.72 |  |  | 
              
                
                  | gdp for the fourth quarter compared to | 3.521 | Jump to 218.879 |  |  | 
              
                
                  | the third quarter when you look at that | 2.96 | Jump to 221.04 |  |  | 
              
                
                  | 6.9 | 2.88 | Jump to 222.4 |  |  | 
              
                
                  | of economic analysis as a first read on | 5.2 | Jump to 225.28 |  |  | 
              
                
                  | a fourth quarter economic activity last | 4.72 | Jump to 228.159 |  |  | 
              
                
                  | year again that's compared to 2.3 in the | 4.0 | Jump to 230.48 |  |  | 
              
                
                  | third quarter and the bea was saying | 3.841 | Jump to 232.879 |  |  | 
              
                
                  | third quarter appear to alleviate just a | 3.28 | Jump to 246.239 |  |  | 
              
                
                  | little bit between the third and fourth | 3.041 | Jump to 248.239 |  |  | 
              
                
                  | but maybe less so than in the third | 3.519 | Jump to 251.28 |  |  | 
              
                
                  | that we got 6.9 | 4.801 | Jump to 258.639 |  |  | 
              
                
                  | grew in the fourth quarter you | 3.92 | Jump to 268.4 |  |  | 
              
                
                  | extrapolated it across four quarters it | 4.48 | Jump to 269.84 |  |  | 
              
                
                  | would be 6.9 percent but it's not like | 4.8 | Jump to 272.32 |  |  | 
              
                
                  | the economy grew 6.9 percent in one | 4.4 | Jump to 274.32 |  |  | 
              
                
                  | course of 2021 if you just measure where | 3.599 | Jump to 280.32 |  |  | 
              
                
                  | year the economy grew by 5.7 that's | 4.64 | Jump to 285.44 |  |  | 
              
                
                  | states since 1984 kind of comparable to | 5.599 | Jump to 295.04 |  |  | 
              
                
                  | 1.34 trillion dollars in the fourth | 3.76 | Jump to 306.4 | 
                      
                        
                      
                        MONEY
                      
                      
                        1.34 trillion dollars
                      
                     |  | 
              
                
                  | the 1.72 trillion dollars in the third | 4.8 | Jump to 310.16 | 
                      
                        
                      
                        MONEY
                      
                      
                        1.72 trillion dollars
                      
                     |  | 
              
                
                  | from 9.5 in the third quarter to 7.4 | 4.959 | Jump to 314.96 |  |  | 
              
                
                  | percent in the fourth quarter that's | 3.599 | Jump to 318.16 |  |  | 
              
                
                  | decreasing between the third and the | 3.679 | Jump to 324.96 |  |  | 
              
                
                  | fourth quarter but of course all this is | 3.599 | Jump to 326.88 |  |  | 
              
                
                  | but not nearly as high as the two years | 3.601 | Jump to 333.759 |  |  | 
              
                
                  | world or one of the few that calculates | 3.12 | Jump to 353.28 |  |  | 
              
                
                  | markets as well this is the s p 500 | 4.799 | Jump to 361.68 |  |  | 
              
                
                  | is a two-day view so i just want to | 3.121 | Jump to 366.479 |  |  | 
              
                
                  | the s p 500 go to new session lows | 4.72 | Jump to 393.52 |  |  | 
              
                
                  | bearings here over the last four | 4.0 | Jump to 403.68 |  |  | 
              
                
                  | see that the 10-year t-note yield is off | 4.16 | Jump to 443.28 |  |  | 
              
                
                  | about one basis point but we did get | 4.72 | Jump to 445.28 |  |  | 
              
                
                  | here this is a one year chart and this | 4.799 | Jump to 459.84 |  |  | 
              
                
                  | check out the two-day price action hard | 4.32 | Jump to 474.879 |  |  | 
              
                
                  | a two-day basis and you can see that we | 4.08 | Jump to 490.0 |  |  | 
              
                
                  | yeah one uh one reaction that caught my | 3.6 | Jump to 553.2 |  |  | 
              
                
                  | looking for four rate hikes this year | 4.24 | Jump to 580.64 |  |  | 
              
                
                  | we're at uh five | 3.921 | Jump to 582.959 |  |  | 
              
                
                  | sphere of people looking for six to | 4.0 | Jump to 588.72 |  |  | 
              
                
                  | seven rate hikes this year uh i'm | 4.0 | Jump to 590.32 |  |  | 
              
                
                  | only one | 3.281 | Jump to 604.079 |  |  | 
              
                
                  | of the risk that no one was really | 2.32 | Jump to 611.6 |  |  | 
              
                
                  | not just for the fourth quarter but for | 3.281 | Jump to 685.279 |  |  |