seen that 10 year yields fall since the fed raised rates last year and i think that shows worried, butareuse a global wave of money pushing into all of these markets. if the ecb were to bring a premature halt to qe or signal that they were going to do so, and this wall of central bank money and accommodation was put into threat, bond valuations may, under said in pressure, but what we are seeing i think is a willingness to add more stimulus or hold off tightening. i think yields will continue to stay very low. tom: the critical question is, is germany and equivalent to denmark and other negative rate countries, or is it taking off and open enough where it needs to be open in our analysis? you cannot do a denmark analysis. carsten: no, you cannot. there is still a lot of demand for german bonds. this eurozone breakup risk is also in the market so if you want to buy european, you will buy german. has toothe bundesbank low a voice in the ecb to really say no. francine: overall, our yields in a bubble? how much lower can they go? i think we can go lower if the ecb continues it's easy -- it's