chris ailman stays with us.ll be talking more about china and the challenges there when it comes to corporate debt to stay with us. plenty to come on the program could an interview with russia's energy minister -- program. an interview with russia's energy minister. let's check in on the markets. we are trading lower. let's check in on the bloomberg with mark barton. the stoxx 600 down for the six-day. every single industry group is trading lower on the stoxx 600. investors worried about next week's referendum, just a week away 8%. that is what we write up the value on the stoxx 600. chart. the this is my favorite chart of the day. it is a wonderful chart which highlights what is going on in the global government bond market. this is the yield differential between the bloomberg global developed sovereign bond index which is a test which is an index of all the worlds -- which is an index of all the world global sovereign bonds. this is going back to 2011, the yield on global bonds has been narrowing. the yield on

joining us is chris ailman of calstrs. are you changing your investment approaches?re you worried about more economic weakness? how are you responding to this landmark vote? >> well, kelly, i would say yes to all of the above. first i want to say, you know, pensions in our system and others are secure. what this has an impact on is our future rates of return. this is a short term event so long term investors are using this as a way to take advantage of these kinds of markets and volatility. am i worried about the uk? absolutely. and europe. we thought that would be a decent place to invest as bill said, back on thursday. but now that's all changed. >> in fact, your uk exposure was rather large. are you rethinking that? i know you're thinking long term and don't trade and because of the uncertainty, about where we go from where, what do you do with all that you have in the uk right now? >> well, bill, most of our uk exposure, global equities and real estate and private equity. we're going to have to see how it plays out. once they trig l article 50, is it a two or a f