How do we fix this. It looks like pharmaceutical stocks are going to be under a little bit of pressure this morning, but European equities broadly look like they're on the front foot. Absolutely.Futures are up across the board actually now. And that's perhaps surprising because we've had these big tariff announcements. If you look back to April, when we had announcements like this, it weighed on equities very heavily.But I think there are two factors happening here. One is that this has happened before. We' ...

Let's bring in the aforementioned pioneer of the bond vigilante term, Ed Yardeni, the president of Yardeni Research. Ed, this is an environment where it's surfacing again, that term bond vigilantes, but they don't seem to be nearly as effective of vigilanteism as the original bond vigilantes that helped you coin the phrase. Correct. Correct.Well, you know this they were most active in the 1980s and then in the 1990s inflation came down and the administration back then the Clinton administration recognized t ...