CNBC Market Edge

" and he has now of amid a climate. Vice president and manager of the announcement the stock yards bank and trust company and in Tacoma Washington -- Akron. Senior market advisor -- Russell investments. Bernie got up three hours earlier than everybody else we'll let him go first Ernie let's take -- on the market where is that it."

" Mark I think short term we might be surprised that some of the data coming out in the next few weeks so I'm not too worried about the short term move in this market but. I am concerned that what we're going to see in the data in the next two months. We'll give a sort of a head fake on the upside because I I sort of think the market may be looking forward in 2010. When we're looking to what really spurs consumption expenditure which hasn't really played a part in this we're talking about stimulus affects our cash for -- prison houses. I mean that's going to great we're going to see better economic numbers I think for a while think that is not going to be increasing rates for awhile all that seems good. We have just went as a consumer going to jump into this I think right now the last thing the market. It's sort of imagining that it's going to be a pretty flat 2010 and may we've gone too fast too far."

" Sleeping and eating out again he said no signs of inflation yet. Big bets you make today that is tomorrow the Fed could come out say instead of keeping rates at zero for an extended period of time it might just be some period of time. Which could cause a whole lot of fear about it place you're not worried about. Not worried typically it takes about a year after the economy has Bob before you do start to see the ratchet up an interest rates and we really believe that if you busy Iraq's weapons right that would really be hurtful for a lot of the small businesses which will end up driving the economy out of recession. And and figure companies the Fed -- going to be raising rates like if found that essentially for at least another year that's that's would be my bet on that I think there has to be some time to collapse like -- that would be detrimental to small business. So how do you trade the you said gold's rally because it was looking for a new world currency. Really the dollar still always kinda have somebody traded. Gold has been played more along the lines of -- individual stocks that has been something that so we've looked at some of them are still pretty pricey. -- with the -- in gold that we have looked data from owning the stock instant the currency itself has been the --"

" Authority who think that does some corporate debt represented better. Fire right now -- equity."

" I think it might be tied mark I'm we're not telling her plans to get out of equities but I do think that the spreads are still wider than have historically been the case. We're talking especially -- investment grade companies were. I yield is done exceptionally well but we think that first. People that are worried about risk here and I think we're going to have a real story coming up here in the next few months. That they can get a really good return on on -- just outside of investment grade debt that looks pretty attractive. As far as stocks are concerned you think it's momentum now our value. And the last I think the last 34 weeks at least you have a hard time making a valuation pollen and you don't want to give way of a train that's running -- at some point. You actually have to pay value for -- for value and and we think that that the equity markets. Are strong we think they'll hang tough we don't think that there's a lot of upside. Amended on the downside as think this is going to be sort of a fair market for awhile. And less in fact the market takes off on the strength of the economic news that we see coming in the next couple months. And and -- from outside -- that you feel up. The dollar is made little progress boxer."

" Obviously what followed the sales. With international exposure that are that are companies have now that his size -- in a big driver to drive stocks -- currently. But there's probably still a lot more ram if if earnings continue to come in dead and if inflation stays under control -- at the top. Keep those asset allocation balanced -- at 8 o'clock concerning -- thank you both very much."