sonali: thank you so much for your time, david rosenberg of oaktree.new intraday record high. it is extending those gains in the session despite all of that change around rate expectations. we will be covering it all for you this afternoon into the close. first, the week ahead. the fed's preferred gauge of inflation in the pipeline next week. that is coming up on "bloomberg real yield." ♪ you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. you can't buy great conversations or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you ima

sonali: i remember not too long ago, oaktree announced they were looking for more than $50 billion inopportunistic credit fund and the market went wild. a time to start the point s people needed to refinance, that opportunity and maturities will start to hit. ares are coming in with records and they have multiple funds that have been bringing them to new heights and the stock has been up more than 70% last year. isn't that incredible? jon: there is a variety of reasons why the credit story changed. on the wall street side when you were doing deal in the past you would get some of the credit offered from the investment bank. that started to change. is that a fair way to characterize it? sonali: i bet you, so i have heard out in the market that the competition is going to get pretty stiff. we talk about the private market versus the public market, the public market has some chances out there. volatility is tearing up certain asset classes and hedge funds particular, let alone the banks hedge funds are seeking out ways to capitalize. some of the fascinations is the idea of the multi-stra