WEBVTT #Elemental Media Engine(TM) 2.17.1.0 00:00:00.867 --> 00:00:01.167 GRADES 00:00:01.167 --> 00:00:01.768 GRADES IN 00:00:01.768 --> 00:00:02.035 GRADES IN RETAIL, 00:00:02.035 --> 00:00:02.569 GRADES IN RETAIL, INDUSTRIALS 00:00:02.569 --> 00:00:03.603 GRADES IN RETAIL, INDUSTRIALS AND 00:00:03.603 --> 00:00:03.636 GRADES IN RETAIL, INDUSTRIALS AND FINANCIALS 00:00:03.636 --> 00:00:03.737 AND FINANCIALS 00:00:03.737 --> 00:00:04.004 AND FINANCIALS GOT 00:00:04.004 --> 00:00:04.971 AND FINANCIALS GOT FRESH 00:00:04.971 --> 00:00:05.005 AND FINANCIALS GOT FRESH DATA 00:00:05.005 --> 00:00:05.205 GOT FRESH DATA 00:00:05.205 --> 00:00:05.472 GOT FRESH DATA LET'S 00:00:05.472 --> 00:00:05.805 GOT FRESH DATA LET'S GET 00:00:05.805 --> 00:00:06.873 GOT FRESH DATA LET'S GET TO 00:00:06.873 --> 00:00:07.540 GOT FRESH DATA LET'S GET TO RICK 00:00:07.540 --> 00:00:07.574 GOT FRESH DATA LET'S GET TO RICK SANTELLI 00:00:07.574 --> 00:00:07.674 LET'S GET TO RICK SANTELLI 00:00:07.674 --> 00:00:07.774 LET'S GET TO RICK SANTELLI >> 00:00:07.774 --> 00:00:08.108 LET'S GET TO RICK SANTELLI >> FIRST 00:00:08.108 --> 00:00:09.776 LET'S GET TO RICK SANTELLI >> FIRST LET'S 00:00:09.776 --> 00:00:09.843 LET'S GET TO RICK SANTELLI >> FIRST LET'S START 00:00:09.843 --> 00:00:09.909 LET'S GET TO RICK SANTELLI >> FIRST LET'S START OUT 00:00:09.909 --> 00:00:10.010 LET'S GET TO RICK SANTELLI >> FIRST LET'S START OUT WITH 00:00:10.010 --> 00:00:10.110 >> FIRST LET'S START OUT WITH 00:00:10.110 --> 00:00:10.276 >> FIRST LET'S START OUT WITH THE 00:00:10.276 --> 00:00:10.343 >> FIRST LET'S START OUT WITH THE NOVEMBER 00:00:10.343 --> 00:00:10.410 >> FIRST LET'S START OUT WITH THE NOVEMBER READ 00:00:10.410 --> 00:00:10.744 >> FIRST LET'S START OUT WITH THE NOVEMBER READ OF 00:00:10.744 --> 00:00:10.777 >> FIRST LET'S START OUT WITH THE NOVEMBER READ OF JOB 00:00:10.777 --> 00:00:10.977 THE NOVEMBER READ OF JOB 00:00:10.977 --> 00:00:11.811 THE NOVEMBER READ OF JOB OPENINGS 00:00:11.811 --> 00:00:13.713 THE NOVEMBER READ OF JOB OPENINGS AND 00:00:13.713 --> 00:00:14.014 THE NOVEMBER READ OF JOB OPENINGS AND LABOR 00:00:14.014 --> 00:00:14.180 THE NOVEMBER READ OF JOB OPENINGS AND LABOR TURNOVER 00:00:14.180 --> 00:00:14.381 OPENINGS AND LABOR TURNOVER 00:00:14.381 --> 00:00:14.881 OPENINGS AND LABOR TURNOVER KNOWN 00:00:14.881 --> 00:00:16.416 OPENINGS AND LABOR TURNOVER KNOWN AS 00:00:16.416 --> 00:00:16.449 OPENINGS AND LABOR TURNOVER KNOWN AS JOLT. 00:00:16.449 --> 00:00:16.649 KNOWN AS JOLT. 00:00:16.649 --> 00:00:17.584 KNOWN AS JOLT. EXPECTING 00:00:17.584 --> 00:00:19.986 KNOWN AS JOLT. EXPECTING TEN 00:00:19.986 --> 00:00:20.020 KNOWN AS JOLT. EXPECTING TEN MILLION. 00:00:20.020 --> 00:00:20.453 EXPECTING TEN MILLION. 00:00:20.453 --> 00:00:20.720 EXPECTING TEN MILLION. 10,458,000, 00:00:20.720 --> 00:00:21.488 EXPECTING TEN MILLION. 10,458,000, BETTER 00:00:21.488 --> 00:00:21.921 EXPECTING TEN MILLION. 10,458,000, BETTER THAN 00:00:21.921 --> 00:00:22.188 10,458,000, BETTER THAN 00:00:22.188 --> 00:00:22.355 10,458,000, BETTER THAN EXPECTATIONS, 00:00:22.355 --> 00:00:24.691 10,458,000, BETTER THAN EXPECTATIONS, AND 00:00:24.691 --> 00:00:25.025 10,458,000, BETTER THAN EXPECTATIONS, AND 10,485,000 00:00:25.025 --> 00:00:25.191 10,458,000, BETTER THAN EXPECTATIONS, AND 10,485,000 IS 00:00:25.191 --> 00:00:25.392 EXPECTATIONS, AND 10,485,000 IS 00:00:25.392 --> 00:00:26.760 EXPECTATIONS, AND 10,485,000 IS ACTUALLY 00:00:26.760 --> 00:00:27.160 EXPECTATIONS, AND 10,485,000 IS ACTUALLY THE 00:00:27.160 --> 00:00:27.460 EXPECTATIONS, AND 10,485,000 IS ACTUALLY THE HIGHEST 00:00:27.460 --> 00:00:28.628 EXPECTATIONS, AND 10,485,000 IS ACTUALLY THE HIGHEST LEVEL 00:00:28.628 --> 00:00:28.661 EXPECTATIONS, AND 10,485,000 IS ACTUALLY THE HIGHEST LEVEL SINCE 00:00:28.661 --> 00:00:28.928 ACTUALLY THE HIGHEST LEVEL SINCE 00:00:28.928 --> 00:00:28.962 ACTUALLY THE HIGHEST LEVEL SINCE SEPTEMBER. 00:00:28.962 --> 00:00:29.396 SEPTEMBER. 00:00:29.396 --> 00:00:29.562 SEPTEMBER. MAYBE 00:00:29.562 --> 00:00:30.263 SEPTEMBER. MAYBE WHAT'S 00:00:30.263 --> 00:00:30.663 SEPTEMBER. MAYBE WHAT'S MOST 00:00:30.663 --> 00:00:30.864 SEPTEMBER. MAYBE WHAT'S MOST NOTEWORTHY 00:00:30.864 --> 00:00:31.031 SEPTEMBER. MAYBE WHAT'S MOST NOTEWORTHY IS 00:00:31.031 --> 00:00:31.164 MAYBE WHAT'S MOST NOTEWORTHY IS 00:00:31.164 --> 00:00:31.331 MAYBE WHAT'S MOST NOTEWORTHY IS THAT 00:00:31.331 --> 00:00:31.631 MAYBE WHAT'S MOST NOTEWORTHY IS THAT SEPTEMBER 00:00:31.631 --> 00:00:32.098 MAYBE WHAT'S MOST NOTEWORTHY IS THAT SEPTEMBER READ 00:00:32.098 --> 00:00:32.165 MAYBE WHAT'S MOST NOTEWORTHY IS THAT SEPTEMBER READ AND 00:00:32.165 --> 00:00:32.265 MAYBE WHAT'S MOST NOTEWORTHY IS THAT SEPTEMBER READ AND THE 00:00:32.265 --> 00:00:32.699 THAT SEPTEMBER READ AND THE 00:00:32.699 --> 00:00:33.333 THAT SEPTEMBER READ AND THE FOLLOWING 00:00:33.333 --> 00:00:33.666 THAT SEPTEMBER READ AND THE FOLLOWING READ 00:00:33.666 --> 00:00:34.000 THAT SEPTEMBER READ AND THE FOLLOWING READ IN 00:00:34.000 --> 00:00:34.134 THAT SEPTEMBER READ AND THE FOLLOWING READ IN THE 00:00:34.134 --> 00:00:35.902 THAT SEPTEMBER READ AND THE FOLLOWING READ IN THE VEER 00:00:35.902 --> 00:00:36.669 THAT SEPTEMBER READ AND THE FOLLOWING READ IN THE VEER VIEW 00:00:36.669 --> 00:00:36.836 FOLLOWING READ IN THE VEER VIEW 00:00:36.836 --> 00:00:38.238 FOLLOWING READ IN THE VEER VIEW MIRROR, 00:00:38.238 --> 00:00:38.271 FOLLOWING READ IN THE VEER VIEW MIRROR, 10,512,000 00:00:38.271 --> 00:00:38.638 MIRROR, 10,512,000 00:00:38.638 --> 00:00:38.838 MIRROR, 10,512,000 THESE 00:00:38.838 --> 00:00:38.972 MIRROR, 10,512,000 THESE NUMBERS 00:00:38.972 --> 00:00:39.472 MIRROR, 10,512,000 THESE NUMBERS TAKE 00:00:39.472 --> 00:00:39.739 MIRROR, 10,512,000 THESE NUMBERS TAKE US 00:00:39.739 --> 00:00:39.873 MIRROR, 10,512,000 THESE NUMBERS TAKE US BACK 00:00:39.873 --> 00:00:40.040 MIRROR, 10,512,000 THESE NUMBERS TAKE US BACK TO 00:00:40.040 --> 00:00:40.140 THESE NUMBERS TAKE US BACK TO 00:00:40.140 --> 00:00:40.740 THESE NUMBERS TAKE US BACK TO MID 00:00:40.740 --> 00:00:40.774 THESE NUMBERS TAKE US BACK TO MID 21 00:00:40.774 --> 00:00:40.874 MID 21 00:00:40.874 --> 00:00:41.274 MID 21 WE 00:00:41.274 --> 00:00:42.308 MID 21 WE HAVE 00:00:42.308 --> 00:00:42.442 MID 21 WE HAVE IMPROVED 00:00:42.442 --> 00:00:42.642 MID 21 WE HAVE IMPROVED JUST 00:00:42.642 --> 00:00:42.776 MID 21 WE HAVE IMPROVED JUST A 00:00:42.776 --> 00:00:43.309 MID 21 WE HAVE IMPROVED JUST A BIT 00:00:43.309 --> 00:00:43.476 MID 21 WE HAVE IMPROVED JUST A BIT AND 00:00:43.476 --> 00:00:43.676 WE HAVE IMPROVED JUST A BIT AND 00:00:43.676 --> 00:00:43.743 WE HAVE IMPROVED JUST A BIT AND DEPENDING 00:00:43.743 --> 00:00:43.943 WE HAVE IMPROVED JUST A BIT AND DEPENDING ON 00:00:43.943 --> 00:00:44.044 WE HAVE IMPROVED JUST A BIT AND DEPENDING ON WHAT 00:00:44.044 --> 00:00:44.244 WE HAVE IMPROVED JUST A BIT AND DEPENDING ON WHAT YOUR 00:00:44.244 --> 00:00:44.411 WE HAVE IMPROVED JUST A BIT AND DEPENDING ON WHAT YOUR THOUGHTS 00:00:44.411 --> 00:00:44.577 DEPENDING ON WHAT YOUR THOUGHTS 00:00:44.577 --> 00:00:44.744 DEPENDING ON WHAT YOUR THOUGHTS ARE 00:00:44.744 --> 00:00:44.978 DEPENDING ON WHAT YOUR THOUGHTS ARE REGARDING 00:00:44.978 --> 00:00:45.245 DEPENDING ON WHAT YOUR THOUGHTS ARE REGARDING HOW 00:00:45.245 --> 00:00:45.345 DEPENDING ON WHAT YOUR THOUGHTS ARE REGARDING HOW THE 00:00:45.345 --> 00:00:46.146 DEPENDING ON WHAT YOUR THOUGHTS ARE REGARDING HOW THE FED 00:00:46.146 --> 00:00:46.179 DEPENDING ON WHAT YOUR THOUGHTS ARE REGARDING HOW THE FED WILL 00:00:46.179 --> 00:00:46.379 ARE REGARDING HOW THE FED WILL 00:00:46.379 --> 00:00:46.546 ARE REGARDING HOW THE FED WILL PROCEED, 00:00:46.546 --> 00:00:46.613 ARE REGARDING HOW THE FED WILL PROCEED, THAT 00:00:46.613 --> 00:00:46.980 ARE REGARDING HOW THE FED WILL PROCEED, THAT MAY 00:00:46.980 --> 00:00:47.147 ARE REGARDING HOW THE FED WILL PROCEED, THAT MAY NOT 00:00:47.147 --> 00:00:47.380 PROCEED, THAT MAY NOT 00:00:47.380 --> 00:00:47.480 PROCEED, THAT MAY NOT NECESSARILY 00:00:47.480 --> 00:00:47.680 PROCEED, THAT MAY NOT NECESSARILY BE 00:00:47.680 --> 00:00:48.848 PROCEED, THAT MAY NOT NECESSARILY BE GOOD 00:00:48.848 --> 00:00:48.882 PROCEED, THAT MAY NOT NECESSARILY BE GOOD NEWS 00:00:48.882 --> 00:00:49.082 NECESSARILY BE GOOD NEWS 00:00:49.082 --> 00:00:49.349 NECESSARILY BE GOOD NEWS NOW, 00:00:49.349 --> 00:00:50.283 NECESSARILY BE GOOD NEWS NOW, DECEMBER, 00:00:50.283 --> 00:00:50.550 NECESSARILY BE GOOD NEWS NOW, DECEMBER, FOR 00:00:50.550 --> 00:00:50.784 NECESSARILY BE GOOD NEWS NOW, DECEMBER, FOR ISM, 00:00:50.784 --> 00:00:51.217 NECESSARILY BE GOOD NEWS NOW, DECEMBER, FOR ISM, ON 00:00:51.217 --> 00:00:51.251 NECESSARILY BE GOOD NEWS NOW, DECEMBER, FOR ISM, ON THE 00:00:51.251 --> 00:00:51.518 NOW, DECEMBER, FOR ISM, ON THE 00:00:51.518 --> 00:00:51.985 NOW, DECEMBER, FOR ISM, ON THE MANUFACTURING 00:00:51.985 --> 00:00:53.086 NOW, DECEMBER, FOR ISM, ON THE MANUFACTURING SIDE, 00:00:53.086 --> 00:00:53.653 NOW, DECEMBER, FOR ISM, ON THE MANUFACTURING SIDE, 48.4, 00:00:53.653 --> 00:00:53.686 NOW, DECEMBER, FOR ISM, ON THE MANUFACTURING SIDE, 48.4, VERY 00:00:53.686 --> 00:00:53.820 MANUFACTURING SIDE, 48.4, VERY 00:00:53.820 --> 00:00:55.488 MANUFACTURING SIDE, 48.4, VERY CLOSE 00:00:55.488 --> 00:00:57.090 MANUFACTURING SIDE, 48.4, VERY CLOSE TO 00:00:57.090 --> 00:00:57.624 MANUFACTURING SIDE, 48.4, VERY CLOSE TO EXPECTATIONS, 00:00:57.624 --> 00:00:57.690 MANUFACTURING SIDE, 48.4, VERY CLOSE TO EXPECTATIONS, AND 00:00:57.690 --> 00:00:57.824 MANUFACTURING SIDE, 48.4, VERY CLOSE TO EXPECTATIONS, AND KEEP 00:00:57.824 --> 00:00:57.924 CLOSE TO EXPECTATIONS, AND KEEP 00:00:57.924 --> 00:00:58.024 CLOSE TO EXPECTATIONS, AND KEEP IN 00:00:58.024 --> 00:00:59.759 CLOSE TO EXPECTATIONS, AND KEEP IN MIND 00:00:59.759 --> 00:01:00.026 CLOSE TO EXPECTATIONS, AND KEEP IN MIND THAT 00:01:00.026 --> 00:01:00.293 CLOSE TO EXPECTATIONS, AND KEEP IN MIND THAT 48.4 00:01:00.293 --> 00:01:00.560 CLOSE TO EXPECTATIONS, AND KEEP IN MIND THAT 48.4 RIGHT 00:01:00.560 --> 00:01:01.027 CLOSE TO EXPECTATIONS, AND KEEP IN MIND THAT 48.4 RIGHT NOW 00:01:01.027 --> 00:01:01.061 CLOSE TO EXPECTATIONS, AND KEEP IN MIND THAT 48.4 RIGHT NOW IS 00:01:01.061 --> 00:01:01.428 IN MIND THAT 48.4 RIGHT NOW IS 00:01:01.428 --> 00:01:01.594 IN MIND THAT 48.4 RIGHT NOW IS THE 00:01:01.594 --> 00:01:01.694 IN MIND THAT 48.4 RIGHT NOW IS THE LOWEST 00:01:01.694 --> 00:01:01.928 IN MIND THAT 48.4 RIGHT NOW IS THE LOWEST LEVEL 00:01:01.928 --> 00:01:02.362 IN MIND THAT 48.4 RIGHT NOW IS THE LOWEST LEVEL GOING 00:01:02.362 --> 00:01:03.363 IN MIND THAT 48.4 RIGHT NOW IS THE LOWEST LEVEL GOING ALL 00:01:03.363 --> 00:01:03.396 IN MIND THAT 48.4 RIGHT NOW IS THE LOWEST LEVEL GOING ALL THE 00:01:03.396 --> 00:01:03.496 THE LOWEST LEVEL GOING ALL THE 00:01:03.496 --> 00:01:03.596 THE LOWEST LEVEL GOING ALL THE WAY 00:01:03.596 --> 00:01:03.863 THE LOWEST LEVEL GOING ALL THE WAY BACK 00:01:03.863 --> 00:01:04.931 THE LOWEST LEVEL GOING ALL THE WAY BACK TO 00:01:04.931 --> 00:01:04.964 THE LOWEST LEVEL GOING ALL THE WAY BACK TO 43.5 00:01:04.964 --> 00:01:05.131 WAY BACK TO 43.5 00:01:05.131 --> 00:01:05.732 WAY BACK TO 43.5 THAT 00:01:05.732 --> 00:01:05.799 WAY BACK TO 43.5 THAT WAS 00:01:05.799 --> 00:01:05.832 WAY BACK TO 43.5 THAT WAS MAY 00:01:05.832 --> 00:01:06.566 WAY BACK TO 43.5 THAT WAS MAY OF 00:01:06.566 --> 00:01:06.599 WAY BACK TO 43.5 THAT WAS MAY OF 2020 00:01:06.599 --> 00:01:06.699 THAT WAS MAY OF 2020 00:01:06.699 --> 00:01:06.833 THAT WAS MAY OF 2020 IF 00:01:06.833 --> 00:01:07.300 THAT WAS MAY OF 2020 IF WE 00:01:07.300 --> 00:01:07.834 THAT WAS MAY OF 2020 IF WE LOOK 00:01:07.834 --> 00:01:08.034 THAT WAS MAY OF 2020 IF WE LOOK AT 00:01:08.034 --> 00:01:08.234 THAT WAS MAY OF 2020 IF WE LOOK AT PRICES 00:01:08.234 --> 00:01:08.835 THAT WAS MAY OF 2020 IF WE LOOK AT PRICES PAID, 00:01:08.835 --> 00:01:08.868 THAT WAS MAY OF 2020 IF WE LOOK AT PRICES PAID, AND 00:01:08.868 --> 00:01:09.235 IF WE LOOK AT PRICES PAID, AND 00:01:09.235 --> 00:01:09.436 IF WE LOOK AT PRICES PAID, AND THIS 00:01:09.436 --> 00:01:09.936 IF WE LOOK AT PRICES PAID, AND THIS IS 00:01:09.936 --> 00:01:10.103 IF WE LOOK AT PRICES PAID, AND THIS IS VERY 00:01:10.103 --> 00:01:10.336 IF WE LOOK AT PRICES PAID, AND THIS IS VERY IMPORTANT, 00:01:10.336 --> 00:01:10.837 IF WE LOOK AT PRICES PAID, AND THIS IS VERY IMPORTANT, WE 00:01:10.837 --> 00:01:11.004 IF WE LOOK AT PRICES PAID, AND THIS IS VERY IMPORTANT, WE KNOW 00:01:11.004 --> 00:01:11.204 THIS IS VERY IMPORTANT, WE KNOW 00:01:11.204 --> 00:01:11.337 THIS IS VERY IMPORTANT, WE KNOW SERVICES 00:01:11.337 --> 00:01:11.704 THIS IS VERY IMPORTANT, WE KNOW SERVICES IS 00:01:11.704 --> 00:01:11.905 THIS IS VERY IMPORTANT, WE KNOW SERVICES IS MOVING 00:01:11.905 --> 00:01:12.439 THIS IS VERY IMPORTANT, WE KNOW SERVICES IS MOVING HIGHER 00:01:12.439 --> 00:01:12.906 THIS IS VERY IMPORTANT, WE KNOW SERVICES IS MOVING HIGHER ON 00:01:12.906 --> 00:01:12.939 THIS IS VERY IMPORTANT, WE KNOW SERVICES IS MOVING HIGHER ON THE 00:01:12.939 --> 00:01:13.139 SERVICES IS MOVING HIGHER ON THE 00:01:13.139 --> 00:01:14.340 SERVICES IS MOVING HIGHER ON THE INFLATION 00:01:14.340 --> 00:01:14.607 SERVICES IS MOVING HIGHER ON THE INFLATION FRONT, 00:01:14.607 --> 00:01:15.008 SERVICES IS MOVING HIGHER ON THE INFLATION FRONT, BUT 00:01:15.008 --> 00:01:15.208 SERVICES IS MOVING HIGHER ON THE INFLATION FRONT, BUT THE 00:01:15.208 --> 00:01:15.241 SERVICES IS MOVING HIGHER ON THE INFLATION FRONT, BUT THE GOODS 00:01:15.241 --> 00:01:15.375 INFLATION FRONT, BUT THE GOODS 00:01:15.375 --> 00:01:16.009 INFLATION FRONT, BUT THE GOODS SIDE 00:01:16.009 --> 00:01:16.443 INFLATION FRONT, BUT THE GOODS SIDE IS 00:01:16.443 --> 00:01:17.977 INFLATION FRONT, BUT THE GOODS SIDE IS MOVING 00:01:17.977 --> 00:01:18.011 INFLATION FRONT, BUT THE GOODS SIDE IS MOVING DOWN. 00:01:18.011 --> 00:01:18.578 SIDE IS MOVING DOWN. 00:01:18.578 --> 00:01:18.611 SIDE IS MOVING DOWN. 39.4 00:01:18.611 --> 00:01:18.812 39.4 00:01:18.812 --> 00:01:19.179 39.4 39.4 00:01:19.179 --> 00:01:19.712 39.4 39.4 IS 00:01:19.712 --> 00:01:19.846 39.4 39.4 IS THE 00:01:19.846 --> 00:01:20.080 39.4 39.4 IS THE LOWEST 00:01:20.080 --> 00:01:20.747 39.4 39.4 IS THE LOWEST LEVEL 00:01:20.747 --> 00:01:20.914 39.4 39.4 IS THE LOWEST LEVEL IN 00:01:20.914 --> 00:01:21.081 39.4 IS THE LOWEST LEVEL IN 00:01:21.081 --> 00:01:21.147 39.4 IS THE LOWEST LEVEL IN PRICES 00:01:21.147 --> 00:01:21.614 39.4 IS THE LOWEST LEVEL IN PRICES PAID 00:01:21.614 --> 00:01:21.948 39.4 IS THE LOWEST LEVEL IN PRICES PAID SINCE 00:01:21.948 --> 00:01:22.615 39.4 IS THE LOWEST LEVEL IN PRICES PAID SINCE APRIL 00:01:22.615 --> 00:01:23.650 39.4 IS THE LOWEST LEVEL IN PRICES PAID SINCE APRIL OF 00:01:23.650 --> 00:01:23.683 39.4 IS THE LOWEST LEVEL IN PRICES PAID SINCE APRIL OF 2020. 00:01:23.683 --> 00:01:23.950 PRICES PAID SINCE APRIL OF 2020. 00:01:23.950 --> 00:01:24.217 PRICES PAID SINCE APRIL OF 2020. NOW, 00:01:24.217 --> 00:01:24.350 PRICES PAID SINCE APRIL OF 2020. NOW, THAT 00:01:24.350 --> 00:01:24.384 PRICES PAID SINCE APRIL OF 2020. NOW, THAT SHOULD 00:01:24.384 --> 00:01:25.185 PRICES PAID SINCE APRIL OF 2020. NOW, THAT SHOULD BE 00:01:25.185 --> 00:01:25.218 PRICES PAID SINCE APRIL OF 2020. NOW, THAT SHOULD BE CONSIDERED 00:01:25.218 --> 00:01:25.618 NOW, THAT SHOULD BE CONSIDERED 00:01:25.618 --> 00:01:26.019 NOW, THAT SHOULD BE CONSIDERED ON 00:01:26.019 --> 00:01:26.486 NOW, THAT SHOULD BE CONSIDERED ON EVERY 00:01:26.486 --> 00:01:26.753 NOW, THAT SHOULD BE CONSIDERED ON EVERY FRONT, 00:01:26.753 --> 00:01:27.320 NOW, THAT SHOULD BE CONSIDERED ON EVERY FRONT, FED 00:01:27.320 --> 00:01:27.754 NOW, THAT SHOULD BE CONSIDERED ON EVERY FRONT, FED AND 00:01:27.754 --> 00:01:27.954 ON EVERY FRONT, FED AND 00:01:27.954 --> 00:01:27.987 ON EVERY FRONT, FED AND INVESTOR 00:01:27.987 --> 00:01:28.121 INVESTOR 00:01:28.121 --> 00:01:28.188 INVESTOR VERY 00:01:28.188 --> 00:01:28.755 INVESTOR VERY GOOD 00:01:28.755 --> 00:01:28.788 INVESTOR VERY GOOD NEWS 00:01:28.788 --> 00:01:28.888 VERY GOOD NEWS 00:01:28.888 --> 00:01:29.489 VERY GOOD NEWS IF 00:01:29.489 --> 00:01:29.722 VERY GOOD NEWS IF WE 00:01:29.722 --> 00:01:30.023 VERY GOOD NEWS IF WE LOOK 00:01:30.023 --> 00:01:30.156 VERY GOOD NEWS IF WE LOOK AT 00:01:30.156 --> 00:01:30.723 VERY GOOD NEWS IF WE LOOK AT THE 00:01:30.723 --> 00:01:30.890 VERY GOOD NEWS IF WE LOOK AT THE EMPLOYMENT, 00:01:30.890 --> 00:01:31.124 IF WE LOOK AT THE EMPLOYMENT, 00:01:31.124 --> 00:01:31.191 IF WE LOOK AT THE EMPLOYMENT, CONSIDERING 00:01:31.191 --> 00:01:31.224 IF WE LOOK AT THE EMPLOYMENT, CONSIDERING IT 00:01:31.224 --> 00:01:31.558 IF WE LOOK AT THE EMPLOYMENT, CONSIDERING IT IS 00:01:31.558 --> 00:01:31.658 IF WE LOOK AT THE EMPLOYMENT, CONSIDERING IT IS THE 00:01:31.658 --> 00:01:31.791 IF WE LOOK AT THE EMPLOYMENT, CONSIDERING IT IS THE WEEK 00:01:31.791 --> 00:01:32.358 IF WE LOOK AT THE EMPLOYMENT, CONSIDERING IT IS THE WEEK OF 00:01:32.358 --> 00:01:32.592 CONSIDERING IT IS THE WEEK OF 00:01:32.592 --> 00:01:35.728 CONSIDERING IT IS THE WEEK OF EMPLOYMENT, 00:01:35.728 --> 00:01:35.762 CONSIDERING IT IS THE WEEK OF EMPLOYMENT, 51.4 00:01:35.762 --> 00:01:35.895 EMPLOYMENT, 51.4 00:01:35.895 --> 00:01:36.029 EMPLOYMENT, 51.4 51.4 00:01:36.029 --> 00:01:36.262 EMPLOYMENT, 51.4 51.4 IS 00:01:36.262 --> 00:01:36.529 EMPLOYMENT, 51.4 51.4 IS THE 00:01:36.529 --> 00:01:37.097 EMPLOYMENT, 51.4 51.4 IS THE BEST 00:01:37.097 --> 00:01:37.130 EMPLOYMENT, 51.4 51.4 IS THE BEST LEVEL 00:01:37.130 --> 00:01:37.397 51.4 IS THE BEST LEVEL 00:01:37.397 --> 00:01:37.664 51.4 IS THE BEST LEVEL UNEMPLOYMENT 00:01:37.664 --> 00:01:37.864 51.4 IS THE BEST LEVEL UNEMPLOYMENT GOING 00:01:37.864 --> 00:01:38.298 51.4 IS THE BEST LEVEL UNEMPLOYMENT GOING BACK 00:01:38.298 --> 00:01:38.331 51.4 IS THE BEST LEVEL UNEMPLOYMENT GOING BACK TO 00:01:38.331 --> 00:01:38.832 UNEMPLOYMENT GOING BACK TO 00:01:38.832 --> 00:01:38.865 UNEMPLOYMENT GOING BACK TO AUGUST 00:01:38.865 --> 00:01:39.065 AUGUST 00:01:39.065 --> 00:01:39.232 AUGUST FINALLY, 00:01:39.232 --> 00:01:39.332 AUGUST FINALLY, IF 00:01:39.332 --> 00:01:39.699 AUGUST FINALLY, IF WE 00:01:39.699 --> 00:01:40.366 AUGUST FINALLY, IF WE LOOK 00:01:40.366 --> 00:01:42.335 AUGUST FINALLY, IF WE LOOK AT 00:01:42.335 --> 00:01:42.368 AUGUST FINALLY, IF WE LOOK AT NEW 00:01:42.368 --> 00:01:42.769 FINALLY, IF WE LOOK AT NEW 00:01:42.769 --> 00:01:47.740 FINALLY, IF WE LOOK AT NEW ORDERS, 00:01:47.740 --> 00:01:47.774 FINALLY, IF WE LOOK AT NEW ORDERS, 45.2 00:01:47.774 --> 00:01:47.907 ORDERS, 45.2 00:01:47.907 --> 00:01:48.108 ORDERS, 45.2 45.2 00:01:48.108 --> 00:01:48.408 ORDERS, 45.2 45.2 SEQUENTIALLY 00:01:48.408 --> 00:01:48.608 ORDERS, 45.2 45.2 SEQUENTIALLY LOWER 00:01:48.608 --> 00:01:49.008 ORDERS, 45.2 45.2 SEQUENTIALLY LOWER -- 00:01:49.008 --> 00:01:49.542 ORDERS, 45.2 45.2 SEQUENTIALLY LOWER -- SO 00:01:49.542 --> 00:01:49.576 ORDERS, 45.2 45.2 SEQUENTIALLY LOWER -- SO IS 00:01:49.576 --> 00:01:53.146 45.2 SEQUENTIALLY LOWER -- SO IS 00:01:53.146 --> 00:01:54.714 45.2 SEQUENTIALLY LOWER -- SO IS PRICES 00:01:54.714 --> 00:01:54.781 45.2 SEQUENTIALLY LOWER -- SO IS PRICES PAID, 00:01:54.781 --> 00:01:54.848 45.2 SEQUENTIALLY LOWER -- SO IS PRICES PAID, BUT 00:01:54.848 --> 00:01:54.914 45.2 SEQUENTIALLY LOWER -- SO IS PRICES PAID, BUT THAT 00:01:54.914 --> 00:01:54.981 45.2 SEQUENTIALLY LOWER -- SO IS PRICES PAID, BUT THAT ASK 00:01:54.981 --> 00:01:55.348 45.2 SEQUENTIALLY LOWER -- SO IS PRICES PAID, BUT THAT ASK IS 00:01:55.348 --> 00:01:55.381 45.2 SEQUENTIALLY LOWER -- SO IS PRICES PAID, BUT THAT ASK IS A 00:01:55.381 --> 00:01:55.682 PRICES PAID, BUT THAT ASK IS A 00:01:55.682 --> 00:01:56.549 PRICES PAID, BUT THAT ASK IS A GOOD 00:01:56.549 --> 00:01:56.583 PRICES PAID, BUT THAT ASK IS A GOOD THING 00:01:56.583 --> 00:01:56.716 GOOD THING 00:01:56.716 --> 00:01:57.317 GOOD THING 45.2 00:01:57.317 --> 00:01:59.486 GOOD THING 45.2 IS 00:01:59.486 --> 00:01:59.752 GOOD THING 45.2 IS THE 00:01:59.752 --> 00:01:59.853 GOOD THING 45.2 IS THE LOWEST 00:01:59.853 --> 00:02:00.220 GOOD THING 45.2 IS THE LOWEST LEVEL 00:02:00.220 --> 00:02:01.788 GOOD THING 45.2 IS THE LOWEST LEVEL BACK 00:02:01.788 --> 00:02:01.821 GOOD THING 45.2 IS THE LOWEST LEVEL BACK TO 00:02:01.821 --> 00:02:01.921 45.2 IS THE LOWEST LEVEL BACK TO 00:02:01.921 --> 00:02:02.422 45.2 IS THE LOWEST LEVEL BACK TO MAY 00:02:02.422 --> 00:02:02.755 45.2 IS THE LOWEST LEVEL BACK TO MAY OF 00:02:02.755 --> 00:02:02.789 45.2 IS THE LOWEST LEVEL BACK TO MAY OF 2020. 00:02:02.789 --> 00:02:02.956 MAY OF 2020. 00:02:02.956 --> 00:02:03.123 MAY OF 2020. ADDS 00:02:03.123 --> 00:02:03.356 MAY OF 2020. ADDS WE 00:02:03.356 --> 00:02:03.523 MAY OF 2020. ADDS WE LOOK 00:02:03.523 --> 00:02:03.857 MAY OF 2020. ADDS WE LOOK AT 00:02:03.857 --> 00:02:04.257 MAY OF 2020. ADDS WE LOOK AT THESE 00:02:04.257 --> 00:02:04.424 MAY OF 2020. ADDS WE LOOK AT THESE NUMBERS 00:02:04.424 --> 00:02:04.524 ADDS WE LOOK AT THESE NUMBERS 00:02:04.524 --> 00:02:06.226 ADDS WE LOOK AT THESE NUMBERS AND 00:02:06.226 --> 00:02:06.526 ADDS WE LOOK AT THESE NUMBERS AND WE 00:02:06.526 --> 00:02:06.659 ADDS WE LOOK AT THESE NUMBERS AND WE SEE 00:02:06.659 --> 00:02:06.960 ADDS WE LOOK AT THESE NUMBERS AND WE SEE INTEREST 00:02:06.960 --> 00:02:07.093 ADDS WE LOOK AT THESE NUMBERS AND WE SEE INTEREST RATES 00:02:07.093 --> 00:02:07.260 ADDS WE LOOK AT THESE NUMBERS AND WE SEE INTEREST RATES RIGHT 00:02:07.260 --> 00:02:07.360 AND WE SEE INTEREST RATES RIGHT 00:02:07.360 --> 00:02:07.560 AND WE SEE INTEREST RATES RIGHT NOW 00:02:07.560 --> 00:02:07.827 AND WE SEE INTEREST RATES RIGHT NOW ALL 00:02:07.827 --> 00:02:07.961 AND WE SEE INTEREST RATES RIGHT NOW ALL LOWER 00:02:07.961 --> 00:02:08.628 AND WE SEE INTEREST RATES RIGHT NOW ALL LOWER ACROSS 00:02:08.628 --> 00:02:09.596 AND WE SEE INTEREST RATES RIGHT NOW ALL LOWER ACROSS THE 00:02:09.596 --> 00:02:09.629 AND WE SEE INTEREST RATES RIGHT NOW ALL LOWER ACROSS THE CURVE 00:02:09.629 --> 00:02:09.863 NOW ALL LOWER ACROSS THE CURVE 00:02:09.863 --> 00:02:10.230 NOW ALL LOWER ACROSS THE CURVE TEN-YEAR 00:02:10.230 --> 00:02:11.197 NOW ALL LOWER ACROSS THE CURVE TEN-YEAR NOTE 00:02:11.197 --> 00:02:11.664 NOW ALL LOWER ACROSS THE CURVE TEN-YEAR NOTE YIELDS 00:02:11.664 --> 00:02:11.831 NOW ALL LOWER ACROSS THE CURVE TEN-YEAR NOTE YIELDS HOVERING 00:02:11.831 --> 00:02:11.998 TEN-YEAR NOTE YIELDS HOVERING 00:02:11.998 --> 00:02:12.031 TEN-YEAR NOTE YIELDS HOVERING AROUND