it is no surprise at the beginning of the year they shot up 7%gher, high-yield today. at the risk premium embedded in a market like high-yield, let's say you are getting 350 basis points. given the forward-looking view and low amount of default rates, you are getting paid a fair amount for taking on that risk. with the central bankers saying go ahead and do it, you have them behind you. i think it is a decent trade. are you going to make a lot of money? probably not, but you will earn a higher carry, and that is significant. jonathan: people say the credit guys are bullish on credit but equities will be ok. i kind of take issue with that. let's explore it. if negative yielding assets are getting back to $10 trillion, if they are up 60% or something from october, and we know because of that, the japanese investors and european have to go in to u.s. corporate credit and as you say, they have to extend themselves to pick up yield, i am wondering whether the credit market will lead equity into the next downturn, whether it will provide the same signal because of distortion

gher shipping and admin costs could also total $92 million a year for steel exporters. she admits u.s. tariffs hurt her firm's finances but says a hard brexit could mean marketwatch harder times. >> steel prices i think would fall. the steel industry would suffer. summers forge i don't think would suffer. ik >> do you feel you've had a partner in government in a sense that's helped you plan? >> dno, i't think we've had the visibility that business needs. i think because of the way summers operates, we haven't felt the adverse impact of that. we've still invested, we've l recruited. >> reporter: firms with a weaker digree and cash positions in an industry that's already feeling the squeeze, no politician can promise brexit .on't spark significant and for "nightly business report," i'm vill. >>> a big move higher for big lots, and that's where we begin tonight's market focus. the bulk discount retail chain reported better-than-expect a earnin revenue. the company also saw same-store sales rise more than 3% for the second consecutive quarter. the ceo atriktributes the soli