fact thatlso have the it is 300 basis points over germany.s that something that's attractive to you? kathy: it is more a trade that a long-term hold but this has been true over the years with italy. you can buy it when the spreads are wide versus bones and make money. in this environment when there is almost no yield anywhere around the world, people will take advantage of that, even if it is a trade. backdrop against a where the growth forecast this week from the european commission were cut drastically for italy by 100 basis points. the growth story for the continent is not looking good. subadra: it is not. that is where i struggle to see why there is so much demand for -- peripheries, for instance. there is still a serious amount of risk. italy came out of some sort of recession -- is in one, i should say. still there is a lot of demand. why? investors are seeking yield. especially the ecb will be on hold, it will make sense to put some risk on margin. jonathan: diana, you mention is not the growth forecast that is of interest to people al