Good morning everybody, and thanks for being here, and I thank Dr. Taikoti and the Kinnick Cancer Association for inviting me. Is it on? You can hear me, right? Okay. Yeah. All right. So I'm one of those behind the scene doctors that patients usually don't see me, but when the tumor comes out of your body and the surgeon will send the tissue to the laboratories and where we will render the diagnosis for the tumor, and then the doctors can decide what to do and how to treat you. So I work closely with the urologists, the surgeons, and medical oncologists. So as Dr. Taikoti said, I'm working in the pathology experiment, and I am a geneticist. Because in cancer, very much cancer is really a genetic disease because cancer is caused by aberrations of the genes or the genome. So overall though, most of the cancers are actually not necessarily hereditary. Hereditary cancer comes for less than 10% of all cancer, and most of them are actually sporadic. Familiar cancer, just because you see it in multiple people in a family doesn't necessarily mean it is hereditary. So for the majority of the time, those cancers are due to like somatic gene mutations, which we'll explain more. So they're like sporadic in nature, and they're not hereditary. So at this day and age, everybody already knows about, have heard of DNA. So we know we all have DNA, our genome is really the blueprint of who we are, and our genome influences our looks and health and behavior and everything. So they are pretty much it's a long stretch of ACGT, different way of organizing sequences that constitutes the whole human genome. And in our everybody's genome, there are like three billion base pairs of the nucleotide. So a pair is like A matched with T. So and then there are like among these three billion base pairs, about 10 billions are variant, like different from people to people. The majority of the genome are the same from people to people.  Everybody was born with some kind of a genetic liability. For example, in the inherited form of those kidney cancers, like the Von Heppholing-Dau syndrome family, you already are born with this germline mutation of the Von Heppholing-Dau gene, so VH gene. And so then even some of us who appear to be normal, we probably have some predisposition of the genetic liability. Then over the time, after birth, we are generally healthy, but there are like other environmental factors or other things that will have additional insults to our genome. And later on with those multiple hits, at some point, when it reaches beyond the threshold, then we get sick. So that's kind of like largely the same, and as I mentioned earlier, about somatic mutations versus inheritable mutations. That's usually because, you know, everybody, we know we all, we come from a fertilized egg. So we have that, those are called zygotes, so mom will contribute the egg and dad will contribute the sperm. And we have starting with the zygotes and then those cells will divide, divide, divide it to make into different parts of our organ and bottom. And so some of the cells will make germline, so that becomes, burns an egg of our own. And those are called germline cells. And then the others form our body cells. And those body cells are called somatic cells. So like when you have mutations in the somatic cells, and mutations happen later, like in this stage, in the somatic cells only, that's what, and some of those kind of mutations will cause cancer.   And they're caused by somatic mutations. But those, in those hereditary form of cancer, so the mutations actually happens in the germline cells, the germ cells. Or they're like starting with the zygote stage, they can be mutated. And then those mutations will be carried forward and inherited by the next generation. And then all the cells in the next generation, body cells, as well as germline cells are going to carry that mutation. So that's the difference between some germline versus somatic mutations. So we, the other term you sometimes might hurt here is constitutional. Constitutional abnormalities can affect both the germline and somatic cells. So all our genetic materials in everybody is packaged into those neatly, 46 neat bundles, which we call them chromosomes. So many of you probably know we have all together 46 chromosomes.  So if you have the longer ones is the X chromosome, the shorter ones is the Y chromosome. So this is a male. So if you have two X chromosomes, then that's a female. So what is in a chromosome? So this is an electron microscopy photo of a chromosome. And so that's actually composed of DNA and proteins. And the most common proteins are histones. And there's some non-histone proteins as well. So when you look at these, we have like these are chromosomes are really long stretches of the DNA we mentioned earlier. And they got compacted and compacted and compacted and packaged into those kind of chromosomes, which you can see at certain stages of cell cycle. So there are many chromosome abnormalities and can cause disease. So as I mentioned earlier, they're constitutional type and their somatic type. And then there's in terms of the specific types of chromosome abnormalities, they're often gains and losses or losses, we also call them deletions. So there could be gains of chromosomes part part of a chromosome or a whole stretch of the chromosome. So they're also gene rearrangements, which means it could be specific segments of the chromosomes are inverted or translocated to other chromosomes, other kinds of things we call them rearrangements. So how do we study chromosomes? So in the for 50 years, what we've been doing is we grow the cells in test tubes, trying to grow them in test tubes, and then they will, we will try to harvest them and put them on two microscope slides and we look at them under the microscope. And so later on, we use the computer to help with the microscope examination. And we will digest away some of the proteins using specific enzymes so that the chromosomes will show those kind of a banding, we call it G banded structures, you see the band that kind of adds a face to every chromosome so we can recognize. And then we align them up as from longest to the shortest and number them. And that way, that's how we can recognize them. And then in the 90s, we started to have this so called molecular cytogenetics technique that fluorescence inside hybridization abbreviated as fish. So we basically use synthetic DNA, so a short stretch of DNA made we made into a we call it probes. So the fish and we label them using fluorescence. And so that when we put them into the cell and try to let them hybridize with match, basically, they go find the matching sequences on the chromosome. And then we will be able to visualize using fluorescence signal, look at in the cell on the chromosomes where these genes are and whether there's any abnormalities of these genes. So of course, then you can also pseudo color those and to make them into distinguish distinct colors and to look at the chromosomes to help with the recognition of the chromosomes. Then the newer in these recent years, we started to have this array based technology. So it's just like using the previously in the fish analysis, you have those one synthetic DNA that you match with your chromosome sequences. And now you're making millions of those and array them onto a kind of little, little kind of microscopic slide called chips. So you package all those arrayed sort of fish probe synthetic probe into a chip. And then you'll be able to also they're all fluorescent labeled and then use modern scanning techniques. This is a scanner that we use. And then we can visualize them in a different way. So using that technology. So Dr. Ticody mentioned earlier, we use this on co scan technology. This can actually put together 200,000 probes fish probes onto this little chip. And the chip is actually I should have brought one it's like half of the size of your palm. And then it covers the whole genome. And especially for cancer diagnosis is really helpful because it gives you very high resolution for about 1000 or 900 cancer genes, in addition to other non cancer genes. So this is a busy slide. But the bottom line is that we can have like in every 2500 base pairs of the DNA, we can have a probe to cover in those regions. So that then it'll usually you need 20 probes to make a very confident call of an abnormality. So the resolution becomes very high. And it's very sensitive as well. So okay, so now the to look at it. So to look at the abnormalities of that, the genome, the 46 chromosomes, now instead of looking at them, like standing up chromosomes and banded, now we're like looking at it as if they're lying down, you put them lie down, and then they link them head to head. So comes on one, two, three, four, all the way to 22. And then x and y chromosomes are on the right. And as Dr. Ticoli mentioned earlier that you can see the baseline the two. So the normal line would be the two copy line. And then x and y in a normal male would be just one copy. So you see lower than the two copy line. That's the one copy line. And if there's anything gain, you will see a a increase. So in this case, like from chromosome one, you have a one q, the long arm of one has gained. So have three copies instead of two copies. So anything that's dropping, then that's one copy. So and in this case, you also see that y chromosome was further lost. So that actually has also a loss of y chromosome. So that's how you can also look at your different colors of different chromosomes. And that allows us to have a very nice genomic overview of a patient's tissue sample. So these are looking at the kidney tissue. So we're looking at somatic abnormalities. And so you can have small deletions or gains and you can have large like on chromosome three short arm, you have the loss and gain and multiple chromosomes. As you can see, these genomes can often be very complex. Multiple multiple chromosomes are involved in gains and losses or rearrangements. So and that gives us a hint as to what kind of tumor suppressors or the oncogenes are actually inactivated or activated. So you can also when we put all the kidney cancer patients together and get an overview, you can see very frequently the three p like in on chromosome three, there is a big segment that's often lost. And you can also also see like on some seven can be frequently gained. So this gives an gives us an overview of what the possible common abnormalities are in kidney cancer patients. So as Dr. Takati also mentioned earlier, kidney cancer is not a single disease. There are many different histological subtypes. And every kind of histological subtypes have very distinct disease courses. And their outcome is different as well. And you would require a different kind of treatment. So it's very important up front to diagnose accurately what kind of histological subtypes. So you already heard about this before the most common type is the clear cell renal cell carcinoma CCRCC, like 65 to 75% and then followed by the papillary type and chromophob type oncocytoma, which is a relatively benign tumor that does not metastasize. And then there's a translocation type of tumor and that accounts for about 50%. And then there's also upward to five or 6% of unclassified tumors. And usually the sporadic form of tumor kidney cancer would be like you will call it you only one side happens on one side of the unilateral and unifocal. So usually it's just single locus. And whereas the inherited forms are bilateral, affecting both sides of the tumor kidney, and then multifocal. So that's usually the situation. And this is from a relatively new recent summary of the different types of human renal epithelial neoplasms, kidney cancer. So they're like, we already know all the inherited form of lung hyperlinda or all the inherited form of the kidney cancer has the bone hyperlinda gene mutation. And the majority of the clear cell RCC also has the VHL mutations. But there are also the other kind, the PBR, PBMR1. And then the papillary types, the common type type type one usually has the met mutation that's an actually an amplification of the met one gene. And many of our hereditary type of kidney cancer allows allow us to see the different mutations that also occur in sporadic tumors. So they're like in chromophob and oncocytoma and even hybrid it oftentimes the FLCN genes are mutated. And the papillary type two, it's usually the FH gene. So translocation tumor, these are the transcription three most commonly involved transcription factors that are translocated into other chromosomes onto other chromosomes. And there's some other types. So that's really helpful. But still a lot of times we may not be very clear about the histological subtypes. So when to how does genomics come into play with a diagnosis, it really helps a great deal with subtype classification. So we have certainly you don't need to remember this gives you an impression that for each sub type of those histologic subtypes, we have specific more specific kinds of chromosomal gains and losses and rearrangements that will allow us to know this is more likely clear cell RCC. The other is like for example, if you see very much of these kinds of gains, we'll know it's more papillary RCC and not necessarily without the three P deletion and it's not clear cell. And chromophob it's usually loss of crumbs of monosomia means only one copy. So there's only one copy of all those chromosomes. So that's how we can look at the whole genome and understand what kind of histological subtypes it should be, especially in those cases that are unclassified by histology. And so for that reason, there's a recent algorithm, genomic algorithm for classifying unclassifiable common RCCs. And so that's proposed by the Memorial Sloan Kettering Institute. And I certainly don't mean to have you read in these cases, but we can actually start with looking at whether there's like asking if we see three P deletion, then next, if we don't, so you know, decision arms, and then you can classify them into different subtypes. So that helps a great deal. And then as I mentioned earlier, for the oncocytoma, it's important to identify them and distinguish them from the chromo, the type, the malignant type. So there's one specific abnormality called CCND when cycling D1 gene mutation rearrangements. This is actually quite unique to oncocytoma. If you can detect that it happens to these kind of patients, if you can detect cycling D1 gene rearrangements, you can be pretty comfortable in calling those cancers as oncocytoma. So we can use the fish technology to look at individual cells. So in this case, you know, this is a normal cell because the CCND1 gene, it's supposed to be intact. So we label like the beginning portion of the gene and the later portion of the gene with different color, green and red. And so they're supposed to be all together, like in this case. And when they are separated, that means they're rearranged. They're not supposed to be separated. But so they somehow you know, the beginning portion and the latter portion got divorced. So that's a bad thing. So you know, that's rearranged about then it gives you the diagnosis of confirming oncocytoma. So in addition to helping with the diagnosis, it also is very helpful with the prognostication. So for example, this is a summary of the genomic aberration seen in CCRCC, clear cell, renal cell carcinoma. And then if you see in these cases, when you see 3p deletion loss, that's actually a good thing. The patient survived better. But if you see the 9p deletion that is represented in the blue color, that's actually a bad thing. The patient will survive much shorter time. Also like 14 q deletion that conveys a poor prognosis as well. So in those cases, it's really helpful for the physicians to know these kind of genomic abnormalities and to know how we can manage the patient, whether I should be more aggressive in treating patients, monitor them more frequently, or I could just, you know, do nothing and just observe. So that that's the reason we at CCM Fred Hudson University of Washington, we formed this multidisciplinary team to study these tissues and to look at manage these patients together. So this overall development of using the genomic analysis was have the clinical participants with urologists and oncologists, Dr. Takodi, and pathologist Dr. Tretia Kova. And so in our lab, we have together with me, we have clinical development scientists and technologists and we have fabulous administrative support to this kind of initiative. So the whole reason is that, you know, as you heard from Dr. Takodi back in the old days, it was one pill, one size filled, you know, fits all types of medication, chemotherapy in the beginning, which was not very effective, but then now with the help of the genetics and genomics era, we can identify subgroups and we can identify what kind of aberrations and will require specific type of treatment. We're not quite there yet, but that's the goal. So in terms of we know that laboratory tests account for only 3% of medical costs, but really makes, affects 70% of the medical decision making. So that's why that's important, especially in these days, the cost of sequencing and the genomic analysis have dropped precipitously, as you can see in recent years, it just drops like significantly. So really the goal of like even holding on sequencing costing less than $1,000 is within reach, really. So in that, with that, we'll be able to reach a very accurate diagnosis and that will help with targeted treatment and ultimately result in improved health outcome. So when we have those clinically available information to feed into our knowledge network, that'll help us with new classifications and better patient management in outcome. So Dr. Takodi and Dr. Gore, our surgeon urologist came up with those proposed testing schemes. So like localized renal tumor accounts for like more than 50% of all the kidney cancer patients. So that's actually really the most important group that we would like to have the genomic testing applied to, because like for regardless of pre-surgery or post-surgery, you can look at those tissues either through corneal biopsy or using the recession specimen tissue to look at a genome and then decide clinically whether we wanted to observe versus surgical removal in the pre-operation setting and then post-operation setting, we can tailor the intensity of surveillance and for evaluation. And in a metastatic setting, we like we use like before the IL-2 therapy, hydro therapy, those kind of prognostic marker information will also help us to decide whether we want to put the patient onto hydro therapy or not. So and then in other cases, I mentioned this metgene in the commonly seen in papillary RCC. And if you see the see metgene amplification, there is actually a specific drug you can use and that's very effective. So that's so called the predictive therapy. So if we're able to have the predictive marker, like in this case met one, we know this therapy is going to be very effective for that patient. So that would be the best case scenario, but we're still working on that. Then in terms of unclassified or completely sarcomatoid metastatic tumors, we can impact the choice of systemic therapy. So that's in our center right now. That's how we're trying to have this diagnostic algorithm. So patient comes comes with their disease diagnosis and the urologist will have surgical resection. So in that in this step, we could also have, as I mentioned earlier, have fine needle core needle biopsy to evaluate the tissue for the genomics. And then it's sent to histology review evaluation. And we do the CTGAD analysis, that's the chromosome genomic array testing using on co scan. And and then we sometimes we can clearly have a diagnosis result. Sometimes it's more complex and we work with the histological evaluation and kind of render a more accurate diagnosis. And then we'll go back and work with the oncologist to put the patient on to the correct arm of the therapy, either standard therapy or clinical trial protocols. So yeah, so with that, I'll close I we work very closely with our colleagues at both Fred Hutch University Washington and Seattle Cancer Care Alliance. And the testing of the genomic testing is performed at the SCCA cytogenetics laboratory. And it was developed, validated by this clinical laboratory scientist, shall you choose and do routinely performed by these technologists, and among others. And also our lab is always very interested in patient advocacy. That's them doing the pink glove dance for breast cancer advocacy. So I noticed the kidney cancer association has this orange symbol, right? So maybe we'll do orange glove dance someday. Okay. All right, that's yeah, that's concludes. Thank you very much.


A huge thank you to MPs Rebecca Long-Bailey and John McDonald for joining us as we handed in our petition to No. 11 Downing Street, asking Chancellor Jeremy Hunt to tax the banks, and an even bigger thank you to every one of the thousands of you who signed.


Mae'n meddwl iawn, maes eisiau ddim yn slag dros bod, mae'nndi fy modd yn gweld i'ch gyddi'u mwyaf? Efallai mae'n gynhyb sylwisio, yw'r amser yn wahanol dda iawn yn y ffordd. Rwy'n ddych chi'n falwjol y ffordd. Wrth gwerth i'w ddweud eich hynny, mae gennym amser rydym yn gweld i'ch gyddi. Ac mae'n grwp hwyl sydd wedi cael eu cyflodd i chi wedi'ch phaith i gyllidau gwasgol, Felly mae'n ffordd i'w wneud, gyda'r flyn wedi'i am ddiddordeb yn ymgyrch yn y llunau nid, ac mae hyn yn datblygaeth gobeithio'i cyfu'r rhoi binnag. Rydyn ni'n golygu gweld. Mae hi'n ddiddordeb yn dod o'r ddechrau'n gweithio a'n ddisgynnu. Felly ond, mae genna ymgyrch am rai'r ddiolch yn ddiddordeb iddyn nhw o fynd i'r rai gai gyfnodd neu o'r rai gai. I'm sure the same thing because we were going to change things radically overnight because that wouldn't make sense and it's not being fair to the guys either, because we've been used to playing possibly in a different way to how are you imaging us to play maybe in 12 months time so we'll get there in good time but it's not going to happen overnight Mae ar y troedd eich rheol sydd wedi ei wneud hynny yn wneud, yn y syniad, os ydych yn y dyfu yn cael eu cyd-naeth. Mae'n ffwrdd yn mynd i wneud yn ystod o'r mathau'n mewn rhoi yn eu ddechrau, ond mae'n unig hynny rhaid yn bobl eich rhaid o'i gweithio mewn hyn yn y ddweud chi'n gael am y lefyd.  Ac mae'n edrych yn ddysgot o'n rhoi. Ond o'r ffrifenddau, ac o'r byd y gwir yn gyfroedd o'r ffrifenddau, yn gweithio'r crossfysgol yn y targi'r mersie. Hynodd, mae'n amser yn gweithio'r pwrdd gwrthwyneb a'u i gyd â'r mae'n gweithio cael maes o raen i gyfedraedd. Yn ymlaesai llunio o ran ffaint o'r grwp y ffaith gyda a maen nhw'n oed i'r ffaint o'r ffaith gwaith am y deulu. Felly, mae hynny yn ôl yn ymddangos i mi, yn dda i'r llunio a wedi ymd Communion Rai. Felly, nid oeddwn i amser yn y pryd. Mae'n gweithio i mi amser o'r fan hynny. Mae'n gweithio i mi, yn unig yno i'r Brafford. Glyn has come in for those who may be listening later or reading later who don't know much about Glyn. Can you give us a little insight? Well, Glyn I've known since, well, it's youth days and it's a long time. He's very accomplished coach. He's been with me for almost all the clubs I've been involved in, actually, at a Premier League level. So he's got a good understanding of the top level, but the attraction for me, obviously, is his experience of the lower levels in the football pyramid. And he's obviously worked at League 1 and League 2 as well. So that was important in terms of my decisions. I've known him a long time. He's a good guy, accomplished coach and he will help, obviously, not only in terms of what we do on the training pitch, but giving me an insight into opposition and in terms of recruitment as well. So his impact this year certainly will be valuable. Are there's a couple of his strengths and like recruitment in opposition analysis and if not, what are the strengths and feedback? Well, I think, first and foremost, he's a very good coach. He's coach senior players, he's coach youth team players, young development players. So he's got a good understanding of what's required. So I trust him clearly. He's someone I've known for a long time and I've got a good relationship with. I've not worked with him as him being my number two, but I've no issue or worries about that because, like I said, I've known him for so long. And looking ahead, a couple of injuries. I'm thinking Jamie Walker has been out recently, Lee Angol, the previous manager said, would hopefully see Lee before the end of the season. How are those two getting on with some very similar injuries? At Jamie's progressing very well, he's had a couple of sessions, will obviously make a decision, might be a little bit too soon this weekend. We've introduced him slowly this week and thankfully he hasn't had a reaction as yet. But we'll be cautious with all players coming back from injury because we don't obviously want them to re-injure themselves by virtue of doing too much too soon. So we'll look after him. Lee, we haven't seen anything off because his injury is going to be a lot longer before it resolves itself, so we're not going to see him for a while. But the rest of the group is reasonably sound. I would say there's obviously numbers still in the treatment room, but we'll get them back as soon as we can. But like I said, we'll look after them when they come in. We'll try to introduce them slowly, give them the right amount of work to enable them to be sound so that they can go full tilt. What are you sure about Alex Gilead as well? He's been playing more of a wingback kind of role recently. When we put the phones off to show some of the fans, why was it like playing a reborn in that role? What have you made of Alex? Alex is a very good footballer, first and foremost, and I think that's sometimes when players actually play out of position or in a different position and they do well usually because they're a good footballer and they can adapt and they can handle the football. So irrespective of where they're playing on the pitch, it's the fact that by virtue of being a good player they're able to cope. So that's the case with Alex. He's able to understand what's required in the role that's asked of him. I'm quite confident about it. I feel that if I played him in any number of positions he'd give a good account of himself because he's a technically accomplished player, so we're pleased to see him. There's a number of players in the squad who are out contracting the summer a lot of the time at this level, a lot to prove going into the last few weeks of the season. Can you tell that from the group that they're here and they want to prove that point and they want to be here? I don't see any mark difference in any of the players' attitudes in terms of the work and trying to be part of what we're doing here irrespective of what the future holds for some. Some will remain here, others will move on. That's the reality of this league, but the work I've seen up to this point has been excellent. So that's good and that's reassuring. They all want to be part of what we're doing from out to the end of the year at least. So let's tap into that and see where it takes us. And just lastly going into Saturday. What have you made of Swindon in your analysis going forward? They're a good footballing. Another tough one, they're doing well at the moment. They're a good footballing side, they like to knock you about and they've got good individual talent that has an influence on the game. So we'll obviously make the players aware of what they're good at, what they're maybe not so good at obviously. And those are the points on the areas that we'll hope to exploit. But now I've been impressed obviously, I've watched their games and will continue to watch them right up to the game. And yeah, they're impressed in terms of the way they approach the game. So maybe slightly different from Mansfield, albeit Mansfield at times would play their football when they could. But yeah, another test, a slightly different test, but I think that's the case at this level. Thanks, Pa. Thanks for your time. You spoke to Llew Pellir earlier and he said one of the key things you've been saying to players is to calm down and take the time with the ball. Is it the case that they've maybe been trying too hard and forcing errors that they don't need to make? Yeah, I think that's a good point made. I think that's the case. They're so desperate to do well that their work at times can be a little bit frenetic and chaotic because they are trying hard. They're giving everything they got and at times it's energy that could be better used sometimes. Sometimes they work exceptionally hard, but actually it's in the wrong direction and in the wrong way. So sometimes you just got to take a step back and understand how we can be more effective and more dynamic when it really counts, which is at the top end of the pitch. So if we can obviously be a team that recognises those moments where we can be really dynamic, that's when we'll affect the opposition. If you keep on doing the same things at the same pace, then teams get set and ready for you and then it becomes difficult to break them down. So it's about being unpredictable, being dynamic and creating problems at the top end. Do you think that's maybe where your experience working at a higher level? You can tell the players how it works there and get them to try and think about it? Well, that's my history. That's what I've been exposed to as a player and as a manager. As I said when I got into the gel, I think my skill set is transferable. I have no reason to think that other than that. I think there's times when you have to retain possession, you have to start again, and that allows you just to get a better structure and a better shape to your team sometimes. If you keep on force the things and trying to make things happen, the reality is that you're pushing the envelope too much because it's a percentage of success going in one area and not maybe using the space that's available to you is there for everyone to see. So I think they understand that and I'll go back to one of my first points. It's not about changing them overnight because that's dangerous if I'm honest. So we're trying to do it at the right pace. Introduce the right ideas so that they can take them on board in good time and then be able to use them because they've done the work in training and had that repetition that you need. And when we become a team that does the good things well and we do things not without thought because everything we do is with thought, but when we become a team, the majority do things automatically. That's usually a point where you start to become a more progressive and effective team. As the weeks go on, the players are getting more receptive to what you're trying to bring in. Yeah, I'm just gaging on enthusiasm and the call to the work at the moment. I'm a realist and I understand what's the start picking teams on a regular basis. Am I upset at you? So that's the reality of the job. At the moment, maybe I'm the friend to everybody, but yeah, quite possibly. But I think they understand that I'm here to try and make them better. I think they understand that these elements of the way I work, that's slightly different to what they've been exposed to of late. So if they've got anything about them, they'll embrace that and try and improve because every single day when we come to training we want to improve and that's a prerequisite. So if they embrace the work, that's the end product. There's no doubt they'll improve. I'm sure they'll be doing something a bit different. It's probably more enjoyable, isn't it? Because if it's different to what they've been used to slightly... Yeah, we're putting drills on it that I'm sure they've seen before, but anybody can put a drill on it, but it's how it's managed and how the work that you see is monitored, so to speak, in terms of... It might be the same drill, but it's no good if it's done poorly. So this is about having those demands and standards in terms of work that enables the individual and the team to grow. And that only comes from good quality work. I'm not into quantity. I'm not interested in loads and loads of bad work. It doesn't make any sense having to quality work, good work that will improve players. And if I get what I want on occasions, I don't say to a loud adult, I've got things short because I'm happy with what I've got. So it's all about quality for my point of view. And from your point of view, what do you feel you've learned so much in this first few days? I'm really impressed with the guys in terms of... Certainly in the game itself, the amount of energy they expend is huge and that's right across the board. Sometimes certainly at the top level you can get some players that will conserve energy to the nth degree and then you've finished the game and you wonder what they were doing. So I haven't seen any of that. Everyone puts a shift in. That's a given, clearly. And I've seen that both in the opposition last week and I'm sure I'll see it in the opposition this week along with ourselves. So it's a very honest league in terms of attitude and application. Guys give what they've got and for the most part, if they do that, I'll be happy with that. In terms of Swindon, Ben Gallar is coaching history for the high levels.  I don't know Ben personally, but he's had a good career progression. He's certainly got his team going at the moment. It'll be interesting to go up against different coaches that's part of the attraction, part of the interest. A young coach getting on? Yeah, and you always hope that young coaches cutting their teeth in the lower level will get opportunities higher up the pyramid. It's not always the case unfortunately because maybe the ownership of certain clubs doesn't allow that because for whatever reason we don't seem to be that attractive British coaches. I'll be. Sometimes I feel we're a much better option. But there you go. I wish him well. In terms of going itself, obviously you haven't got so much of the hooplar surrounding it. Are you perhaps going to enjoy it more? Is it going to be easier to focus without so much of the pantomarm going on around? I'm not sure. I'll enjoy it more if we win. Clearly it goes without saying. But the actual day itself, I told you after the game, I enjoyed every minute of it. That's my hope this weekend as well. The emotions and what this game does to you on a match day is great. I've always enjoyed so looking forward to going through that again.


Good afternoon, RAP News is back online. Today we take on and analyse one of the most intractable, divisive, ongoing violent divides to happen in our time. The 60-year conflict going on between Israel and Palestine. Is there a one-state, two-state, or no straight solution to this protracted fight? From Camp David to Madrid, Tarpa to Oslo, the decades back in time, all peace talks have devolved into violent rows, and roadmap to peace have led nowhere but more war. Until now, welcome to the first Middle East peace raps this afternoon. RAP News is proud of this tremendous chance to prove, the peace-filled art of RAP could chart the best roadmap to start anew. So first up, Israeli Prime Minister Benjamin Netanyahu. Shalom, BB being ready this whole time to engage the peace process with war crimes.  Alright, well, we'd like to bring the whole story to light. Please begin by telling us Israel's side, how did this war arise? The fact is, my people have suffered awful tragedies, centuries of persecution, diaspora. We were slaughtered massively, in the shore, hit the trike to have us wiped off the map and thus we sought a safe harbor, a place to gather us.  And like exodus, we came back to our biblical homeland, and it's Israel, which the Lord handed us. And then in 1948, we declared the birth of the Jewish state. Your people have indeed suffered massively, unimaginably, and should have sanctuary, not just in the Middle East, but wherever they happen to be. However, isn't the Holy Land holy also to Christians and Muslims? How can you claim that only Jews own the land, and exclude them? With the Six Day War, we fulfilled our Zionist covenant, invaded Jerusalem, the West Bank, Golden and Gaza, taking all of it. The Occupied Territories. Then on the 7th day, we rested, and when all the world's nations witnessed this great event, they condemned it. What? It seems the UN issued Resolution 242, calling on Israel to give back those territories and with your troops. Hey, are you denying the legitimacy of the Jewish state? I'm just trying to anti-Semite. Wait, what? Everybody, these guys are Nazi. Okay, okay, just let you relax. You hater. We've yet to ask the rival party. We now cross direct to Gaza to check the wraps of a Palestinian spokesperson representing Hamas. Salam, as you can see, we are ready to talk peace, but only within the 1967 borders will we recognize Israel and sign deals. Oh yeah, recognize these. Kapow! Hamas? Now he looks more like hummus. What Hamas? Mr Netanyahu. You killed him. I guess. But it was in self-defense. No, it wasn't. Yes, it was. Check out the news coverage from the U.S. I'm Brian Washington.  Tonight's headlines. Peace process shattered yet again by unprovoked attacks from Arab terrorists. Israel retaliates with airstrikes in self-defense. Meanwhile in the West Bank, Palestinian suicide homes are ramming themselves into peaceful Israeli bulldozers. Israel is under threat, which is why, as shown on this map, its settlements have um, steadily expanded. How can we end this injustice? To explain, we welcome John Kerry, settler-turry of state. Great to be back, bucky. And don't you stress a bit. American taxpayers have got Israel covered till I'm a get-in hit. No country gets more U.S. foreign aid sent to it. $140 billion since the 70s. Plus military weaponry. No conditions are stringed with it. No conditions at all? Well, we would prefer it better if they could kindly stop using our money to build new illegal settlements. What did you say, you schmuck? Baby. Uh-huh. No, I was just telling them. Just keep sending the money, schmickalib. Yes, sir. We'll write the check. There's a call from some Jewish guy in Brooklyn. He's on the line with us. An American Jew? He's bound to be pro-Zionist. Let him speak. Hello, MSMDF? Um, yes, you're on the screen. This is Norman Finkelstein ringing in to state the truth in this case. Israel is a lunatic state. It's no excuse to steal Palestinian land because Jews suffer genocide at Hitler's hands. A self-hating Jew. Everybody. This guy's an Ashkenazi.  And I also condemn American policy of funding the theft of Palestinian territory. Okay, Finkelstein. We get the gist of all this. Now, where were we? Financing war crime. That's a straight wrecked. Well done, America. Take APEC. They got us by the Tasek. So we have to wave that star of David Flag. But it's worth paying cash to have Israel's back. That's true. They're the only nation in the Muslim backwards that shares our American values. Give us some examples. We both love trembling international law. Constantly. We're both nuclear states and democracies with terrorist foreign policies. And obviously, both America and Israel. We're built by occupying territories of native peoples. We're both settler colonies. We're both settler colonies. Awesome. Publicity time. Keep your eyes on the screen. Hey, I'm Scarlett Johansson. And my real job is promoting illegal occupations. It's easy. You start by taking other people's land and water, send and dine with settlers, push the natives out of their homes causing bloodshed. And look, settler's dream. Better for Israel and all of us. Mmm, Scarlett Johansson. Looks delicious. And what's more, it reminds me of our very own sponsor, Red Skin Genocider. Flavor of the American nation. Bloody good. Tasteful. So, Israel is a settler colony. Like Canada, America and... Australia! Our colonial assessor is in the area. Does Israel pass the test? Can Oka? Can Oka? Yeah. I'm in Jerusalem. And what's going on over there? I'm celebrating the day of Israel's birth. Your head's melt. Which roughly translates to Australia Day. And wow, it's like back home. Barbots, flags, beers. So in solidarity, I've got the end of me knocked off. It's patriotic, apparently. What do Palestinians make of this day? I don't know, hey. Perhaps you should ask them. Okay, I'll ask the natives. Wait. Hey, hello. Can you hear me? Salam. How do you celebrate this wonderful day? We natives participate with smiling faces this party, mate. Just like you're our original people on Invasion Day. And I was cast out from the lands of my mom and my father. Now I dance as an outcast to the bombs of Ergasa. And we sing Israel's independence as our knack bar. Sounds great. A lot of party with a snack bar. Not a snack bar. Crocodile dandy. Knack bar. It means a catastrophe. Anti-Semitic. It's far from truth. We are far from homo. Zionism is far from Jews. How can I explain it to you? We lost our rights that day. No Babies. That's a tragedy. How can we help yous? It seems that despite the use of rap and rhyme, we've failed to seal a real peace deal between Israel and Palestine. Nevertheless, I hope we've expanded our minds and are prepared to share some final thoughts before we rap for the night. This might seem like some battle entwining other people in another time. But in fact, it mirrors back our own greatest challenge to live side by side, no matter race, flags, or which invisible man we pray to in the sky. And that is why there'll be peace nowhere until there's peace in Palestine. The war is over if we wanted to borrow Lenin's line. It was pressure from outside that ended the crime of apartheid that turned terrorists into winners of the Peace Prize. The question is, can we learn history's lessons and apply them in our time? When we analyse our direction, it's clear where the answers lie. Does any state hold the power to change the tide? Or is the one safe solution for us to unify rather than divide? Not just in the Middle East, but globally, far and wide. Good night.


Right, good afternoon. Welcome to CMC Markets on Friday the 4th of June and this monthly non-farm payrolls webinar with me Michael Euston, where I will be taking you through the numbers looking at the particular areas of interest that will help influence my decision-making process when it comes to looking at what the markets are likely to do going forward. I think it's important to understand that we're coming off the back of a big miss 30 days ago and certainly I think that will impact to a certain extent an awful lot of people's reaction function when it comes to what the markets might do next. Ultimately I think whatever the numbers are likely to be it's not going to change the overall direction of equity markets per se. Let's do a quick reminder of what happened a month ago when we saw that big miss on the April payrolls report. Now this candle here I've got my Bloomberg 10-year yield chart in front of you and those of you who will have tuned in a month ago will have registered my shock at how the markets could get it so wrong with respect to the April number 266 when markets were expecting a million plus figure. The knee joke reaction was to basically buy US treasuries and yields to fall quite sharply. Now as we can see that sharp fall in yields did not last very long and actually from where yields finished on the 7th of May they are now higher. So markets are still expecting a fairly decent rate of jobs growth going forward and there's no reason to suppose that won't continue to happen. What markets miscalculated was the fact that as part of a March stimulus package what happened was that unemployment benefits and some fairly generous ones at that got extended into September. So lulled into a false sense of security by the Bumper March payrolls report which came in at $916,916,000. There was an expectation that April would be similar. What subsequently happened of course was that March was revised lower to $770,000 and April came in at $266,000. Now that requires what I would call a little bit of a readjustment of your thought processes when it comes to the level of job gains that we're likely to see between down September. Before that markets were pricing in a million a month. That is not, I think that's unlikely to happen given the fact that the unemployment benefits are likely to continue to act as a break on rehiring levels in the US labor market until they expire in September and this is at a time when vacancies are already at record levels of around $8 million. Now obviously we saw a big beat yesterday on the ADP report and obviously that's re-energized the reopening trade. It's re-energized the reflation trade, the inflation trade and US Treasury yields are now back up 10 years, back up to $162.5. Now I expect them to continue to go higher and we've got a Fed meeting on the 16th of June which is likely to be focused on the taper trade or the prospect of a taper. Now people are running scared of a taper, it shouldn't be. A taper means that the US economy is healing and if central banks are pairing back support that should be fairly supportive going forward because it sees the perception is that the jobs recovery will continue to play out albeit at a slightly slower pace than was the case two or three months ago. The biggest concern at the moment is inflation and that's where the data events come in which you've asked me about Richard. We've got US CPI next week and that's going to be a big driver of what US Treasury yields are likely to do next week rather than today's payroll numbers. Let's start with respect to what expectations are for today's payroll number. Now it's anywhere between $500,000 to a million. There's a whisper number going around that it could be $950,000. Now that could well be fairly accurate. I'm suspicious of that. I'm suspicious of that for any number of reasons. You look at the weekly jobless claims numbers yesterday and they're fairly good. Unfortunately the last two weeks aren't included in this payroll's data. The payroll's data for May only includes up to and including 14th of May. So anything after that will come in the June numbers. I think the key thing that concerns me is the ISM reports that we saw earlier this week in manufacturing and services. The employment components for both were weaker than the April numbers, which suggests to me that there's a good chance that we could come in around about $500,000 for today's payroll's numbers. What we could see is an upward revision to April from $266,000 to maybe $400,000 or $500,000 because that seems a very, very low number given the fact that the ISM employment components for April were actually a lot stronger than they are for May. And yet for May, Mark is surprising in a much higher number for May in terms of payrolls than in April. So for me, keep an eye out for a revision to the April number. Also pay particular attention to the headline number, but I think the headline number is less important than the revision to the April number, which could be revised upwards. More importantly than that, if we now move this out of the way and we now start to talk about the actual calendar items that I'm paying particular attention to is these numbers here. Now we've also got a Canadian payroll's number as well. And that's likely to be important given the recent strength of the Canadian dollar, and now that has started to weaken over the course of the last few days. Now Canadian payrolls probably aren't going to be particularly relevant to the overall picture of where the US dollar is going. The US dollar has rebounded quite strongly in the past couple of days and does appear, does appear to have found itself a short-term base. And that's borne out in terms of the price action in terms of the currencies. So in terms of my particular focus today, it's going to be the unemployment rate. We're expecting an adjustment down from 6.1 to 5.9. I'll be paying particular attention to that along with the participation rate, which actually saw a slight uptick in the numbers in April, which was positive as more US workers returned to the workforce, which suggests that they're more optimistic about finding a role. And certainly there's plenty of vacancies to go around. And what I would want to see as well is an uptick in average earnings. Now we saw a big uptick there from, we're expected to see a big uptick from 0.3 to 1.6 as more workers returned to the workforce. Now obviously if we see a big uptick in average earnings, that's likely to be positive in terms of the inflation picture because at the moment we haven't really seen any evidence of wage growth as a result of all of these jobs coming back. And let's not forget there are still 8 million fewer jobs in the US economy now than there were pre-pandemic. So while the unemployment rate may be 5.9%, the participation rate is also an awful lot lower from the 63.7% that we saw in February, March last year. It's nearly 2 percentage points lower. And that 2 percentage points accounts for around about 8 million people. So that is important I think in the overall scheme of things. So it's important to bear that in mind. So what does that mean going forward? Well let's look at the key chart points or the key levels that are of particular interest to me when it comes to today's numbers. Now we've seen an awful lot of dollar strength over the course of the past couple of days. You can see that in euro-dollar. And I think it's quite likely we will continue to see US dollar strength over the course of the next few days. I think we're probably going to see a retest of 120 and a half euro-dollar. We've got an ECB rate meeting next week as well. Let's not forget that is going to be a significant factor. And also there's the fact that an awful lot of dollar shorts are already out there and have been paired back in the past few days. But I think there's quite a few more to get paired in. So as a consequence of the reversal that we saw here, subsequent break below the lows that we saw from the 28th of May, I think any rebound in euro-dollar is likely to find resistance ground about 121.70, 121.80 for a move back towards 121.50. So as I say, I mean whatever the payrolls report is today, unless there's a really big miss, I think the US dollar is likely to head higher over the course of the next few sessions. If we look at say, for example, the dollar index here, we can see that we do appear to have found a little bit of a base here. And we do appear to be starting to trend higher just a little bit on the basis of this thrust higher through the highs here. So the market is a little bit short of dollars and we do need to be aware of that. That's certainly borne out by the fact that Dolly N has broken higher. Nonetheless, with respect to Dolly N, we could see it drift back towards 109.70, 109.80 first before ratcheting back higher. That's likely to be the key level for me on Dolly N on the downside. We've pulled back from 110.30. And generally Dolly N's support and resistance levels tend to coalesce between 20 and 30 and 70 and 80. I used to trade Dolly N, and those tended to be the key areas of support and resistance whenever I was trading it back in the day. And it hasn't really changed that much. So if we get a drift lower in Dolly N, I think 109.70.80 will probably be the extent of any dip. I'd be surprised if it dropped much below that, assuming that the dollar move higher is set to continue. It's a similar sort of thing with cable. Again, it's very much in a range. Big top at 142.40. Those of you who watch my regular weekly videos will know that I've had that 142.40 in line for quite some time. It's respected it on at least two or three occasions while I've been away. If we do come back down, at the moment there's a decent area of support in and around 140.80. Those of you who are regular listeners to my videos will know that I post regular updates on the chart forums for the major currencies, sterling dollar, euro dollar, euro sterling, and Dolly N. I post them generally on a daily basis when I'm around. Obviously when I'm not, I can't do that. But certainly I think in terms of the pound, the line of least resistance is very much towards the upside. I'm very much sterling ball looking for a move towards 140 through 142.50 towards 145. That will play out in a lower euro sterling where we've got solid resistance all the way through here. So as I say, it's very much a dollar story with respect to today's payrolls numbers. I'm not expecting anything like the missed that we saw last month. But what I would be paying particular attention to is a significant revision to the April number. Now I said I'd talk about NASDAQ just before we got to the numbers. Paying particular attention to this resistance area here, Murat, you've got big resistance at 13,800. I've drawn that line through here. It is acted as support, support, support, resistance, resistance, resistance, just basic technical analysis. When support and resistance levels break, they tend to reverse their roles. And that's important in the overall scheme of things. So while I am fairly bullish when it comes to equity markets, I'm probably more bullish for European equity markets and UK than I am for US. Now that's not to say that US markets can't continue to go higher, but given the valuations of tech, until such times as we get back above 13,800 on the NASDAQ, my bias is more to sell the rally on the NASDAQ simply because we're not getting the higher highs that I would expect to see in a strong uptrend for the NASDAQ. We're still in an uptrend, very much so. But the fact that we've been unable to get back above 13,760 to 13,800 gives me a little bit of pause. So that is an area that I've been watching for quite some time. Of course, if we look at the S&P, again, fairly sideways consolidation here, it's likely to finish the week lower, unlike European markets, which are likely to finish the week higher. There is potentially more sideways consolidation likely to go on here with support around about the 50-day moving average and this trend line here. I'm still very much by the dip on the S&P while we're above this trend line here. But as soon as this trend line breaks, you have to flip your psychology around because the mindset then completely flips around. Similar sort of mindset for the FTSE 100. It has continued to underperform, but while we're above this trend line here, we did briefly break below it here, but we closed on the highs of the day there. So I'm not counting that as a break. Why are above this trend line here? I'm of the opinion that we're very much in the case of by the dip for the FTSE 100 when it comes to this particular market here. German DAX, finish off with that before the numbers come out. Again, similar sort of story. Higher highs, higher lows, momentum is the key on any market that you look to be trading. So in this case here, I'm not looking to pick tops, I'm looking to buy dips. So at the moment, there's a decent area of support through these previous highs here and about 15,600, 15,580 for gradual move higher. Okay, so finishing off with gold because a sharp move higher in yields could potentially see gold prices to continue to move down from the peaks that we saw at the beginning of this week. I'll be surprised if we break below the 200-day moving average, but certainly a decent jobs number and a decent number in terms of inflation could see a move lower in gold and a move higher in yields. Okay, so I'm now going to be quiet in the lead up to this particular number. I don't think I've forgotten anything. Oh, yes, dollar caps very quickly before the numbers come out. A decent rally here. Potential further upside through this resistance level here. So that level is around about 121.30. 121.20, 121.30. And here we go. So that was the Canadian payrolls report numbers. They were disappointing. Minus 68. Unemployment falls to 5.8. The number for payrolls is 559. So slightly below expectations, which again is not surprising given the fact that we had the weak employment components. I'm now looking for a revision for the April number. And at the moment, I'm not seeing that. Yeah, well, it's fairly weak revision. So all in all, that's fairly underwhelming and symptomatic of a weak dollar reaction. Not particularly great payrolls report, 559 below forecasts. Average earnings, though, is coming at 2%. So that's a positive. So that could actually feed in to the positive dollar story once markets start to absorb that number. Because as I reiterated earlier, the jobs number is probably less important as we lead into September than the actual wages number. The Canadian reports slightly disappointing, minus 68,000, expecting a number of minus 20. So that's missed expectations. But it's this number here, 2%. That's quite a big jump. So we're starting to see wage inflation start to creep back. So if we're looking at the euro dollar chart now, change that to a five minute chart, we'll probably see a little bit of dollar weakness, which is not surprising. But that wages number is probably likely to feed in to the taper story. So I'm going to be particularly interested if the euro gets back to around about 60, 70, I'd certainly be looking to try and initiate a potential short position on that once markets start to manifest a once they start to absorb the fact that wages numbers are starting to push higher. And I think that more than anything is probably the key takeaway for me for that. Because I think, as I said, I said earlier, weak wages, weak jobs numbers, they're likely to remain on the on the downside, on the lower side of expectations as a consequence of the fact that the unemployment benefits are still at fairly elevated levels. So let's just do that. Remove that. So this has all the makings of a little bit of a move higher. I'm looking at this level here on 21 80. I would expect to see a move back to 70 80. And then for a little bit of an adjustment lower because this jobs number doesn't change the overall conversation, if you like, about a potential tapering of asset purchases. Yes, we've got the ECB next week. And there'll be an awful lot of discussion amongst the more hawkish eurozone members about European recovery story and the fact that they're uncomfortable with the current loose monetary policy being adopted by the ECB. But you know, the ECB aren't going to go anywhere. And it's more likely that the federal taper asset purchases before the ECB starts to even consider the prospect of withdrawing its own levels of support for the European economy. So I think the key takeaway for me any questions, by the way, keep keep keep them coming. The key takeaway for me is it's a disappointing jobs report. And we could we'll see a squeeze higher in euro euro dollar to one 21 80. But overall, it doesn't change the dynamic for me in the in terms of the concept in terms of the conversation, I can get my words out about the direction of travel when it comes to the discussion of a taper at the FOMC meeting in two weeks time or less than two weeks time, because ECB is next Thursday, the following Wednesday we've got the Fed. And I think there will be more discussions about a tapering of asset purchases as we head towards the end of this quarter. And we head in to the third quarter. Okay. So let's move away. I've just been asked about Euro CAD. So going to quickly just change this and look at your CAD. This doesn't look particularly exciting, I have to say. I mean, yeah, it's at the bottom end of its recent range, decent support on the one hour chart around about 146 70. That's a bullish reversal there. Finding it difficult to get through 147. But I would suggest that there is potential for it to move back towards these highs through here. There's a bit of carved out a little bit of a base on the hourly chart. Let's have a look at the four early charts to see if it gives us any better steer on that. Again, the four hourly chart looks fairly positive. So yeah, I would probably go along. I would probably go along with that train of thought does look as if it's you could well head back towards 147 and a half over the course of the next over the course of the next few days, if you're prepared to run it over the weekend. And I generally tend to I tend not to do that anymore. I used to run positions over the weekend an awful lot. But I've become less inclined to do that. In recent in recent years, because of the prospect of gaps higher and gaps lower, markets tend to be more tend to be more vulnerable to that sort of thing. Right, does this now mean that inflation figures on 10th of June and now more important data points? Yeah, let's talk about that. Because as I say, those average earnings numbers were fairly positive coming in at 2%. That would suggest that either wages are going up or more people are returning to the workforce, judging by those numbers that we've seen, they're not certainly returning the numbers that I would have expected them to. But let's talk about CPI may CPI. Because I think that's going to be a very key data point next week. Now, I don't think I need to remind any of you that markets got spooked a little last month, when US CPI jumped sharply to 4.2%, which was well ahead of expectations of 3.6%. And the highest level since September 2008. Now, I think it's important to remember that there are base effects that play when it comes to these inflation numbers, you've got to put in the context of where oil prices were a year ago. And that will play into the conversation when it comes to looking at the headline inflation numbers. A big component of the increase that we saw in the April numbers was a big rise in used car and truck prices, which rose 10%, as well as higher energy costs. These two factors have not gone away. They will also be in the numbers for May. In the aftermath of that number, that CPI number, we also saw a big rise in PPI prices. And there's been much debate as to how much of this will drop out the numbers and be transitory. Now, if the recent April PPI numbers are any guide, and given the fact they tend to be a forward indicator, the CPI, then I think they could give us a decent steer as to what next week's CPI numbers could be. So April PPI jumped to 6.2% April PPI, its highest annual level in over 10 years. Now, the reason for that was prices in the goods index saw an increases of 18.4%. That's 18.4%. Now, that includes dairy, meats, as well as plastics and other materials. Now, an awful lot of the headline over the course of the past four weeks has been about rising agricultural prices, which is likely to trickle down or trickle up, whichever way you want to describe it, into an awful lot in higher food prices in grocery stores. So next week, the expectation is for a US CPI to rise by 4.6%. Now, I would suggest that that is probably a little bit on the conservative side, and it could actually come in near a five. Now, if it does come in near a five, you're going to get an awful lot more people nervous about inflation. You're going to hear an awful lot more noise about transitory risks and what have you. And the flip side of that will be that you won't have any Fed policy makers on the wires trying to talk yields down. Why? Because the Fed goes into blackout next week ahead of the FOMC meeting on the 16th. So there'll be no central bank is talking inflation risks down, saying it's transitory, yada, yada, yada. There'll be no jibber jabber about that at all. None. So if you get a high inflation number next week, which I think it's undoubtedly we will do, then that will put upward pressure on US 10-year yields. Let's just have a quick look at what US 10-year yields are doing right now. Obviously, the dollar is lower. So let's look at what US 10-year yields are doing. And they're doing nothing. They're 163.35. They're 85 points. They're just slightly less than one basis point higher. So US yields haven't moved. The dollar's weaker, but US yields haven't really moved that much. And that suggests to me that any dollar weakness today is likely to be fairly temporary in nature. So expectations are safer next week are for CPI to come in at 4.6%. I think it could come in higher than that. And core CPI, which excludes food and energy expected to rise by 3.4%. Again, there will be base effects within that number. But we're also seeing supply chain considerations, upward pressure, and other prices elsewhere, which could push the headline number higher. So certainly keep an eye on that CPI number next week. I think that for me is probably the main data item that I have an interest in when it comes to looking at the when I'm looking at the inflation outlook. Right. What are my views on emerging market currencies, say dollar mechs or dollars are given taper prospects? Right. Well, let's have a look at them. That's a baby chart here. Let's clean this up and do a little bit of it. Well, certainly in terms of dollar mechs, I'm still very much a case of I'm buying the dip on the dollar on this. I mean, we saw a very strong move up yesterday. I think we'll see a little bit of weakness heading into the weekend. But if I'm going to going to force me into doing a little bit of analysis on that, I will be certainly looking to buy any weakness back to 20 for a move back towards 2040 on the next. So weaker mechs, stronger dollar. Looking at dollars are, it's going to be a fairly similar story. Though I've got to say the reaction of the dollar on this particular currency is makes me worry a little bit in terms of the overall outlook for this, because at the moment, we're still very much in a downtrend. And looking like we could well continue to do so. The only way I would revise my opinion of this, Jonathan, is if we're able to take out a series of peaks through here. Otherwise, I'm very much in sell the rally camp here on a technical basis. And for me, it's all about technicals. When it comes to looking at the markets, I sometimes think that you can look at the fundamentals. And at all intents and purposes, you can place too much store in the fundamentals rather than looking at what the money is doing. And the money is doing in the flow tells me that dollar and dollars are still very much in a downtrend. And we'll continue to be so until such times as we take out the peaks that we saw back here on the 28th of May, around about 1388. So dollar mix by dips dollars are selling rallies. Hopefully that answers your question. Gold, not surprisingly, because of the weak number that we've seen in the payrolls, we're getting a little bit of gold strength. For the here and now, we'll probably see a squeeze back towards 1892, 1895. But based on the assumption that US yields will continue to move higher on higher inflation expectations, you've got to think that the upside for gold is likely to be limited to the highs that we saw at the beginning of this week. And we'll probably see a drift back down towards 1835, 1840 over the course of the next few sessions. So in terms of gold, I'm expecting a lower gold price to sell on the rallies as yields edge up terms of equity markets still remain that numbers. Plenty positive for equity markets, not really doing an awful lot on the DAX, Zedsville, Arizona. The footsie is edging back up again. So not much to see there. Brent crude is a decent area of resistance all the way back through here from $72, which was the highs in 2020. I think it's really going to struggle to get back through there. I'm struggling to see what would cause it to punch through that very significant resistance level that we've seen through these series of peaks all the way through here. And this also feeds into my inflation narrative as well. You look at where crude oil prices are now, 3rd of June, or even in throughout May and where they were last May. So we're looking at crude oil prices at $30 a barrel a year ago, and they now over double that. So there's an inflation component in there, which is all which is helping to keep a really high floor under inflation expectations. So for me, oil looks a little bit toppy on Brent, good resistance in and around $72 a barrel. I don't expect that to change in the short to medium term. It's certainly not in OPEX plus its interests or oil to go much higher than it is right now because of concerns about demand destruction. So I think in the context of that particular discussion, I'll be surprised to see oil go much above $72, $72.50 from the train line that I put in from this chart. Okay, so any other questions? US bonds 10 year? Well, obviously, if I think yields are going to go up, then I think bonds are going to go down. So let's look at a 10 year note. Let's just draw in some lines. Got a nice little line coming in there. And if we then draw in a similar line through here, okay, so you can draw in a similar line along the highs through here, but you can also buy the same token. Price action is compressing. So we're going to get a break one way or the other. My bias would be for us to break towards $170, $180. So high yields, lower bond prices on the US 10 year. It would be my expectation if the latest inflation numbers continue to surprise to the upside. What do I think copper's adding? I think copper's adding up for just based on supply and demand dynamics that are likely to be at play in terms of renewable energy. Seen a little bit of weakness in the short to medium term, but that's a fairly decent uptrend in place there. You've got the 50 day moving average. I can quite simply draw a line in through here. And it also happens to coincide with the 50 day moving average. So I think while we're above 50 day moving average and this trend line here, then copper remains very much by the dip, given the fact that copper is used pretty much in every sector, in every renewable energy sector. See whether it be solar, whether it be wind power, whether it be car batteries or any other type of battery. Copper is a key component in all of them. And if you're going to drive a renewable energy story, then copper is going to be well bid on dips every time it gets cheap enough for people to buy back in and restock. So that's copper. So that's pretty much summarized. I think everything that I need to say, unless there are any other questions, ladies and gentlemen. I'm probably going to wrap this up now. Until the same time, same place. Next month, I do do a weekly video, which generally goes up on the website around about 4pm on a Friday. As I say, you can quickly find that under the insight section of the website. And this is basically where all the various commentaries go. That was my week ahead for last week there.  Obviously, if I'm not on holiday, they don't get written, but I've just got back. So they should be fairly up to date. And I have a colleague in Singapore who also writes periodically on what's going on in the markets as well. So enjoy the European weather freezing here in Oz. Oh gosh, that's not good. Yeah, well, hopefully it warms up a bit for you in Oz. And I've been asked if I could take a look at Neo. Right, okay. Let's have a look at Neo. Well, that's interesting. It certainly doesn't like it much above $43, does it? Failed there. Failed there. We're aligning through there. No, that's not it. Let's extend that back. Looks a bit of a range player at the moment. Alan looks a little bit toppy anywhere near 43. So we could see a little bit of a drift back down to around 30. But I mean, that's been the extent of the range for about the last three months or so. And it is looking a little bit overbought. So I think while we're below 43, there's a decent chance we could drift back down again. Just bear in mind that we're heading into the weekend. You don't really want to be left running anything over the weekend, though. So always be a bit careful. It's making it ahead of the weekend. All right. Okay, so that's it for this month. Well, yeah, this month's payrolls report. Join me again, same time, same place on the 2nd of July when we're doing the June payrolls report. And hopefully, we'll have a better idea of what the inflation picture is from the US economy by then once we've got site of yet another load of monthly economic data. Otherwise, thank you very much for listening to this payrolls webinar. I'll be posting it on YouTube later. There will be a recording of it. Otherwise, thanks very much for listening. And I hope you all have a nice weekend and see you all again next month. Thanks a lot.


Hi, my name is Mycee Lore and I am studying the Respiratory Care Program here at Highline for about two years now and I will be graduating in March 25th, which is spring quarter. And then I have been taking pre-rex here for about three years before I got into the program. I chose Respiratory Care here at Highline because when I did my pre-rex here it was so diverse and even if it's a little bit far from home I felt very welcome and I've had students who actually have been in the Respiratory Care Program here and I've heard a lot of good things, especially about the professors, the program and how supportive they are and how well-prepared the students are after they graduate taking the state boards. I think the most challenging part about this program is the schedule. It's just your whole life is like dedicated to this program when you're in it and I mean you're saving life, you know, that's the program. And it's important to be on top of that and having to find, you know, between work schedule and school schedule and then you have your clinical days. So it is tough but it does pay off at the end. The best part about this program is having the Health and Life Science Building. It's like the newer building and we have a lot of resources here. They have like a sim lab. They have the equipments we need to go to clinicals and be comfortable. A lot of the clinical sites use a lot of the same equipments we use here so I'm very comfortable when I go to clinicals. I feel very prepared and the professors are awesome with accommodating schedules and opening labs for us to practice hands-on as much as we can. Pursuing Respiratory Care is important during the pandemic for many reasons. COVID really targets the Respiratory System and as Respiratory Therapists we're in the front line fighting this disease and having more people at the front line fighting this disease as a community is probably the best option to overcome this pandemic. You're able to help those that are in need. You're able to be there for the community in ways that you don't even know you could be and just be able to work at the hospitals and seeing them get better. It's very rewarding. After graduation I'm planning to stay here in the Northwest. Hopefully work at one of the hospitals as a Respiratory Therapist. I did have the great opportunity to go to these clinical sites during my program so I do have an idea of where I would like to apply. If you have a passion for helping others and you have an interest in the healthcare field and you're also always up for new challenges but be rewarded at the end I feel like the Respiratory Care Program here at Heinle will be a great option for you to look into.


Yeah, I'm kind of personally I'm I'm at the point where I'm ready to try Maybe small and focused but really bold Ideas that that actually where we you know Where we actually look look carefully at the values and ask ourselves where are we missing the mark? And what what would we do if we really did design? Scholarly communication for some particular subfield of sociology perhaps What would a values driven? Scholarly communication infrastructure for some small subfield really looked like and could we both be bold and try and Try and incubate something like that as an example Because I think we end up making you know, we end up trying to do something that actually works For a broader constituency And we compromise values along the way and then it adds up and adds up and you end up with some version of the same thing That we started out with so I'd rather see us go small, but really bold improve that it could happen