aboutope, we can argue the exact timing, but you have to expect rates to go up in the long run.hat's also unsustainable. 45 bonus points is not sustainable. >> you touched on something we've talked about this week. scenariolly face a where treasuries and the risk reactor -- >> we have been arguing for ever that level matters. how much can we rally starting from the 3%? we got a couple. that could happen in the short-term. much harder to see that in the long term. you have stress, people are going to go to safety. safety is going to be the dollar, treasuries in the u.s.. on the tape today basically saying that the fed on to prepare themselves for a rerun. that tells you have policymakers are thinking. today, everything looks hunky-dory in the u.s. and we will probably glow -- grow at a rapid clip. but a year from today if the thatrio plays out, tightened six times in 2019 expecting u.s. growth to continue at this level is preposterous. it just cannot sustain itself. inverted, andd be the other correction everywhere. and if we have a, that's an environment where treasury rates ral