Yesterdays market turmoil. Certainly, futures are doing better than the carnage of yesterday. Mohamed elerian will be joining us. We will get to dr. Elerian soon. What did you see in the literature overnight about able or a bear market reversal . Bearbowl a bull or market reversal . Jonathan the driver the last few weeks has been the sequential movement we have seen. The limits of normalization, the limits of recovery. Iec think several states in america this week, that is what to keep in mind in this market. What i found fascinating was the separation of Ig Investment grade from real, tangible carnage in high yield. First of all, oil prices are tumbling the most since april. That was the main driver of what we saw in the highyield space. All through the market, you saw this grab for cash. A return to what we saw in march. We saw the dollar surge and goal declining. People looking for cash to offset risk positions. ,t raises the question again what does this say about the feds ability