joining me now of course for more insight on this market nadia level senior us equity strategist at ubs global wealth management danny great to have you here to talk to us about sort of the further equity sell off the pressure that you see the courage to stay invested in these markets yeah i mean what do you think about it taylor this has been a somewhat range bound market i mean markets really at the same level it was back in the spring you know despite the fact that weve had a more aggressive fight so i would think about it from despite the volatility its been somewhat a resilient market you know even in the face of these headwinds you know partly because earnings have been holed up in better you know we havent seen those massive cuts yet but we do think that there are common and so thats going to keep a cap on this market and so we think about where we go into year end were looking for thirty nine hundred kind of where we are today so we think from a positioning standpoint you do want to be selective in that ise echoed earlier high quality stocks on health care consumer staples you know couple that with energy which you know we expect from upside too im just given that as we look out to the supply market is technology high quality yes but you have to be selective with the technology you want to look for those companies with a high portion of free at current revenue that will be but whether any sort of downturn is there a cap on yields are you looking at peak yields that are behind us i think when you look at it from a 10 year standpoint you know three and a half percent we got back in june we do think that thats likely the peak in this cycle however as we know with in the bond market you know theres some volatility remains high so you could overshoot that but we are looking for three and a quarter percent on the 10 year by year ran and we sort of think that when you get into 2023 and inflation starts to abate and it starts to slow that we think that the tenure comes back down to two 75 so were looking for this sort of trading range between 275 and three and a quarter you mentioned sort of at thirty nine a hundred as you think about year end the problem is the path to get to year end how volatile how choppy are you thinking when youre navigating to year end i think its going to be a choppy market we still have the upcoming earnings season well see how that comes through so far this week through conference season it seems like the earnings for you know 2 3 are a holding in there but when we look forward to 2023 we still think those numbers need to come down i mean tell the consensus is looking for 8 percent epw growth thats already above trend you know you have an environment where we continue to debate whether we end up in a recession or not so high single digit earnings growth somewhat seems somewhat peculiar to us and so we think like the cyclical sectors still remain at risk particularly consumer discretionary remains vulnerable and so we think that youre going to see some volatility as those earnings estimates come down nadia its funny that when we talk about sort of the equity desk now maybe more than ever in touch and in conversation with the fixed income desk as well what is your fixed income team asking you within your world of equities the most important signals that theyre looking for i think what theyre really looking for is to see what the corporations are saying in terms of in terms of balance sheets where theyre putting money to work how resilient the consumer is on thats what sort of the low fixed income market is is looking for us to get a sense of like you know is there an increasing chance of recession because obviously that has implications for where the bond market goes as well as the equity market goes when youre taking a look at those recession indicators do you look at it too tends to twos thirties within your run of equities do you look at a threes three month tenure that has not in vernon where you really focused on the three month tenure better indication for recession we know that two cents are already inverted but its not its not very good at a time in a recession theres a longer window in terms of getting to a recession when two tenths first but theres a shorter window youve got a six six months in so windows one the three three month tenure starts to infer as youre thinking about allocating as you mentioned within equities is inflation or the labor market a bigger concern for you both you know inflation of course is top of mind for the fed we know that policies really focus on that and so obviously we have to be very cautious central to that and where we saw the high cpi print this past week and so when we look forward to next week i mean we are looking for a 75 basis points i think the market is already there well of course the job market is also important because we want to watch it wage growth very closely we also think that the fed wants to create some slack within the labor market so as to keep wages under control because we know that ultimately speeding through to higher inflation