carol pepper.uld to have you with us. we are seeing potentially more encouraging inflation numbers not to mention lower energy prices but at the same time, the fundamentals remain that we are in a higher rate environment and low growth environment as well. how do you hedge for such fundamentals? carol: the street is predicting a recession. the street is thinking the sky is falling and things will get really bad. we have had some good pieces of news. let's look at the facts -- europe is making it through the winter without any major energy problems. and the energy prices are starting to come down and supplies are out. people were not predicting that a few months ago. we have not had any major new brakes of covid strains in europe or the united states and while china is it, they will get through this monthly reopening period which will be good for the world and china. and look at what is happening with ukraine. they are starting to make headway in the war. there are a lot of positive things that coul