2 trillion has been wiped off the market. Guy you are looking at it right now. As you can see there is a lot of red on that screen. Anna bonds continue to retreat today. That is the german and 10 year bonds showing yields. Guy that is what happens when you strip things early. The latest concern comes from the Federal Reserve chair janet yellen. She said that debt markets may exist. Equity market valuations at this point are fairly high. Not so high when you compare the returns on equities to the returns on safe assets like bonds which are also very low. But there are other potential dangers there. Guy that is quite a combo. That brings us to todays twitter question. It is simple and straightforward, is janet yellen right . Anna it is a good place to start our next conversation. We are joined now by luke pick more. Luke hickmore do you think janet yellen is right . Valuations could be problematic. Guest i think she is right at some point but not yet. Fundamentally, the lows are too low.