From: Jonathan Farkas <███████████>
Sent: Wednesday, January 10, 2018 11:24 AM
To: jeevacation@gmail.com

Hi Old man i will be down in pb this weekend ,are you there? I am watching the 10 year and this could be a false breakout or lift off i am not sure technology should be keeping inflation down.but the lower end of the work chain construction etc are seeing positive wage pressure so it looks like inflation could be real.what do you think?if it is a cycle change the markets will have to react ,and the Chinese not wanting to invest in our treasuries is an interesting tell best jf