 Now, let's jump over to our man, Teddy Kegstad, folks. You can check out Teddy's work, the Tiger 4X Report. He puts out an outstanding letter every Monday morning with updates throughout the week, right on the front page of TFNN. Hit that newsletter tab. Check out the Tiger 4X Report. Comes with a 30-day money-back guarantee, folks. You can't go wrong. Teddy Kegstad, good morning. Good morning, Tommy. How are you? I'm doing well, man. How about yourself? We got an ice storm brewing in Chicago. So I'm doing all right, just hunkering down today. Boy, ice storm in Chicago. What does that mean for temperatures for you guys, man, like single digits, teens and negatives? Yeah, it's going to be, I think, a high of, well, it'll be a high of like 30 to 32, something right around the freezing later on today, but right now it's in the 20s. Yeah, it's going to be cold and brisk. With that wind chill, I'm sure. Yeah, exactly. Chicago, windy city. So, Teddy, where do we kick things off, man? We got some action. Things kind of progressing somewhat the way we've been talking about with yields, maybe catching a little bit of a bid. We're seeing a reversal of some of the trends this year, but what do you think of the action we've got over the last few days with this market and yields and currencies accordingly? Well, you know, it was a holiday market week, so definitely out of volatility yesterday. It was kind of nice to see that. You don't usually see that much action, especially with the way yields moved yesterday. And we took out at December low, so I think that you have to really pay attention to what's going on with the yield curve right now. Yeah, what do you think of the fact of where the market is with still where the yields are in terms of getting to where we were in December versus the market still in a somewhat elevated basis, even where we were quite the run-up into January. We've had quite a pullback of what, four or four and a half percent, even in the S&Ps in a few days, but still elevated with yields kind of above where they are on that basis. Well, right now we're definitely falling on good support for yields. If we get a bounce, I would say over the next couple of days it wouldn't be shocking, but right now, considering we're coming off of a higher move high and we made a lower move low on a weekly basis with the bonds in the tenure, I think you really have to look at it best in neutral trade, so it's a sell-rally forecast for that, meaning that I would be very cautious buying into thinking that you're gonna have any type of lower yield trend going into the next few weeks or even the next couple of months. I think it's gonna be the opposite where we're gonna be pushing yields higher for the next few months, for sure. Yeah, it looks like that's the case, right? Pretty interesting to see where we go two or three months down the line with the data that we've been getting. The dollar index, what do you think of the pop we've gotten there at a price point of about 104 in the dollar index off of the lows of about 100 and change almost 101? Well, I like the high that was set on Friday. I think short-term that the dollar probably will hit support a little bit. I mean, today we have a kind of a mixed bag of goods. There's a lot of divergence going on in a lot of the currencies. And you also have, for instance, like the US dollar Swiss trade, which is becoming just a nightmare of a range trade. So the more of these currencies that are becoming range trade markets right now, you're not gonna have much of an impact by, say, like the euro or the pound or other currencies as far as making the dollar index move. So the dollar index is becoming a very rough gauge. Short-term, I like the high from Friday. I'm not bearish the dollar, but I think right now it's a good chance to see a little bit of a correction in the dollar, especially when it comes to like the euro and the pound, moving forward. But with the Fed stance, obviously people are gonna be waiting on the minutes. And I think that what we've been talking about for the past couple of months, which has been contrary to the main consensus, is that the Fed's gonna kind of go online with what we've been talking about. And that is that they're not gonna be as aggressive as they have been over the past year, and especially starting out last year, but the hawkishness isn't over. The data doesn't support anything for them to really pull back the reins, let alone this theory of possibly cutting rates at the end of the year. Yeah, that one might finally be out of the bag. It depends how we get some data over the next month or two. I saw a bullet out there again, I think this morning on CNBC saying, I just wanna get there as fast as possible in terms of his terminal rate of 5.3. Whether we get there or not, the data is still gonna persist, man. And we got retail sales 3%, 500,000 plus jobs added, and we get that PCE on Friday. PCE, interesting to see as when you look at economic data, Teddy, I know there's so much of it, of course, across the globe, but where we are right now, inflation's so important. Something like the PCE, I know CPI is an important number. We've talked to our man, Kevin Hicks, many times, just on an equity perspective, right? The data that drives everything, non-farm payrolls, of course, a mammoth one across the board, but is the PCE, when you're trading forex, the dollar with yields are right now, is that something you're looking forward to on Friday, does that drive some of the action? I think it has some bearing. I don't think it's as strong as when you look at the major numbers like CPI or unemployment or PPI. I do think it has an influence, you know, but I kind of look at it like the Michigan sentiment where if it comes out radically unexpected, that's where you might see a knee-jerk reaction from a number like that, but otherwise, it's just, it's not that it doesn't mean anything, but it's just a number that comes out that you use as kind of a supportive gauge, if you will, for any trend that's in place. Is that Michigan number out Friday as well? I think it might be. Michigan sentiment, yeah, this week or next week. I think it may be, folks, I think it may, I'm not certain. What about the end, Teddy? Let's jump to the end. Sure, sure, so let's look at the end. Well, with the end, let's see, we have, you know, yesterday it was definitely getting nice and strong, trying to lift the bid, today it's pulling back, and that's where we have this choppiness in the dollar. The yen is one of the currencies, I think that you're just gonna see a trend still, but it's not gonna be an aggressive trend, just because we have the whole transfer of leadership with the BOJ coming up in the next couple of months. You know, I mean, they haven't pulled the trigger yet, so that means that we don't know when it's gonna happen, we just know that they're very likely to, so, but the market right now is saying, well, until they have this change over in leadership, you know, it's more bullish, the U.S. dollar yen right now for any type of trend, you know, you have to look at, when we came off the highs from, you know, months ago, that's still a correction in the long term. Overall, the U.S. dollar yen has been in a very, very strong bull trend, you know, so right now, we're at that kind of like stage where we're trying to figure out is, what we just recently had, was it a correction, or are we looking to have this, you know, this next leg up where that becomes, it falls short of the highs, and then we start the bear market for the U.S. dollar yen, which is a very viable, you know, chance if the new leadership becomes aggressive. You know, now, I don't think that the BOJ is gonna ever be as aggressive as we were, or the ECB or other central banks like that, but let's say that they take off to just like the quarter point, half point kind of like leaning initially and stuff, and say that, let's say they say that they're gonna be trying to fight inflation. That would mean you can might see a quarter point raise, you know, by the BOJ three, four times in the course of a year, that would be a big deal, you know, and that would also, that would mean that the U.S. dollar yen trade would probably be, not necessarily bearish, but I think that the bull rally may be actually kind of over, you know, so I think we were setting a case for a very large range trade, but the high may be in, you know, the only thing I could see that would change that kind of scenario is if our Fed got super aggressive, which then would outweigh anything the BOJ does, and then you might see new, you know, multi-month highs, but it's very possible that the top is in, it's just a matter of now, are we going to correct and find that next best-selling point for the super long-term trend? Or are we, you know, you know what I'm saying? Like it's a matter of like, what are the central banks going to do, you know? So we're kind of at that inflection point, but I'm bullish right now, the U.S. dollar yen. Nice. Yeah, it's pretty interesting. I have the chart up here in terms of that entire run up from 115 to 150, and we back off to 130, and then you're at 135, and which way is the actual trend shaping up on this chart? Teddy, I appreciate the segment as always, the time, man. I appreciate the Tiger Forex report. Please, folks, check it out. You heard the reason why you should sign up, man, shaping so much of this action. We got another week, man. Always interesting to see what we'll be next Wednesday. Have a great one, Teddy. We'll talk to you on Wednesday, man. You too. Thanks, Tommy. Thanks so much. Higher yields. Can't argue with that one right now, man. Thanks, Teddy. We'll be right back to finish up the program, folks.