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[Music] thank you good morning Im Julie Hyman with inasperating for Brad Smith this is Yahoo finance live lets get right to the three things you need to know to start off your morning first thing you need to know Spencer Pals hawkish testimony this week sent shock waves through the markets stocks are treated yields continue to go higher with the bond market doubling down on the odds of a U.S recession that reflected in the yield curve which hit its deepest inversion since 1981 and the anxiety in the markets will keep building as we continue to get economic readings including tomorrows jobs report second thing you need to know a 25 minimum tax on billionaires and a doubling in the tax on capital gains those are reportedly part of President Bidens budget proposal set to be unveiled later today the budget aims to reduce the federal deficit by three trillion dollars ing to reports plus Shore up Medicare and Social Security but important to note its mostly just a wish list the New Yor