Wells Fargo's Schumacher: Market backdrop became 'too sanguine, too quickly'

CRUDE OIL THAT'S ELEVATED. I DON'T THINK IT'S GOING TO HAVE ANOTHER SIGNIFICANT LEG LOWER ON THE BACK OF ANY NEWS THAT COMES OUT. AND I THINK ENERGY STOCKS DESPITE THE MOVE AND DESPITE TODAY'S SELL OFF I THINK THEY'RE STILL IN PLAY.ALL RIGHT. SO LET'S BRING ANOTHER VOICE INTO THIS MARKET THAT IS MIKE SCHUMACHER WELLS FARGO SECURITIES HEAD OF MACRO STRATEGY. MIKE GOOD TO SEE YOU.THANKS. PERFECT NIGHT. I MEAN WHAT A DAY.LET'S START WITH BOND YIELDS. CHRIS MENTIONED THEM OKAY MARKETS REPORT HIGHER. OIL SANK 15 ...