You. We have to start with the rough may jobs report, and the u. S. Only adding 38,000 jobs. And as simon said, the markets are being resilient considering just how bad that data is. And we can make jokes about the bls forgetting to carry the one, but this is no laughing matter. There is two huge implication, the timing of the rate rises, and it would be surprising to see the fed race in the face of this, and maybe if june is better, it changes, and the other is the impact on the election. The economy stay strong, it would be a major upset to see the republicans win the election, but if the economy goes into the tank, all bets are off. And mike, does this mean that we have peaked in 2016 so far with the job growth, and acceleration of the growth. The expectation would be that you would shift down from 200,000plus a month to something lower, but this is well weaker than we expected in terms of the new trend. And it is too early to say, and to henrys point about the election, the rule of
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