year, weo greg, last also had a plattner on in the treasury yield curve. after that compression in the yield curve, we thought we needed to buy the curve back because it is fully priced in. the five-year at 2.50 offers a lot of value. the risk is actually that there will be fewer hikes. i want to get your view on something quite important this week. bonds have offered very little to no risk mitigation. marketld you the equity would be down as much as it is and then told you bonds would hover around 2.85 on a 10 year, some people may not believe me. there's one real good reason. it's all inflation expectation driven. when inflation impacts markets, it has different behaviors and financial conditions related move. in financial conditions, when equities go down, bonds rally and you get that diversification. if you get the market driven by inflation on its own, it doesn't have the positive impact for bonds and it is neutral to negative for equities. that is exactly the market you've gotten in the last couple of weeks. we are not surprised by it at all. this mo