bob janjuah of nomura with royal bank of scotland for years. t advisor, that is an original title. what do you do for nomura? bob: some people would say not a lot. i am there as an elder statesman. tom: ok. i want a banner made right now, bob janjuah elder statesman. can you do that, alex? with the other statesman and the young turner. here is 2019. have a difference of opinion. here is dollar-yen as a global proxy for risk. a lot of people are a. with weaker yen call. what is the distinction of how again trades 14 months out? explain yet as global proxy. bob: my view on that might be weakening a little bit. i think we have a pretty decent level of clarity on what things are going to shape the dollar going forward. midterms are a critical thing to discuss, but putting that the one side, we know this is going to keep going. dollar is going to trend higher. i think when we talk about japan, like many people, i've been in markets 20 or 30 years, and since the beginning, we have been calling the end of japan. it is not going to happen. and talk toto