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The quick rise and interest rates has Wall Street during the time warp. Our own rob Cox was talking about a column yesterday about how 1984. Is on everyone's lips right now playing a role rob Cox anti -- today. And and -- it helps the body doesn't have asked why is everyone talks. About it and before that the UN went so much in general treasury markets. And now place adding payments Williams six to 8% in the space of a few months -- Batman info was it. Very rapid appeared caught a lot of people a lot of people on -- Lance. And also Schultz and rates went up which is was pretty -- banks of the -- Goldman Sachs once went under president not a partisan to recapitalize the banks act so. So this is what this is that what people fail when it comes since Obama is what if everyone gets it. The point that the -- was making was that -- It would not like 1994 at least not the mind. And this congress has a regulatory -- -- gave Bankston hit if rates go from other banks still OK okay. And regulates them not to say that -- that they've -- they've imposed much -- Never treasures these guys and much Veronica can operations had a lot of props office put out those shot a million you can still be prop trading in treasuries and movie -- bombs. People only to the -- that -- this has been shut that he's a -- But -- misuse say it's forget 1994. It's more like 2003. An election and I think I'll forget about it -- -- victory. They -- you know. -- -- -- -- -- Two against one of the big difference for me -- went and -- raising rates right we haven't gotten there and report despite her one thinking it. Ben Bernanke made it pretty clear that were pretty far from that exact. Then what the issue is that they are basically they were leaning one way it would be easy policy and other indicate. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- All over the of the fallout from today include what is better and before but what nobody dares or of course. Treasury spreads about hundred basis points about five or six weeks. Interest rates swaps. Mortgage backed securities get caught -- -- because you know. -- -- time happening in a lot of it a lot of reaction. Is personally also -- -- investors just yanking billions. Dollar out and we saw a lot outflows it was so. How the last few weeks they had a percentage basis the outflows in 2003. From all the phones were bigger than -- they happened the last few weeks. So this is the thing with the women undergoing it now yeah so that's the thing -- -- thinking of if you go back to the middle of last month may be about. Percentage point increase in rates well. That we didn't. Talking to people and some of the big wigs on Wall Street is saying well what if these go up we won't take up two percentage points three percentage points entitlement -- -- he -- It is possible that thinks they stress test four pillars and basis points but the reality is like it's going to be very different. And it even that high without the Fed -- short term rates just the way you know her work -- has had a sanctuaries short term rates the ten year. We go so high I think that's what maybe. Being lost and it. That this matter will be repair we will stay here in 2013. And be back with corporate -- tomorrow.