still with us around the table is jim karen, guy lebas, and margaret from wells fargo asset managementier this week, we heard from the fed chair and in fact locally, we had a series of central banks worried about financial stability. rich asset prices, and risk. do you take notice of what they have to say about asset prices? margaret: i think what they really are saying is that they are extremely sensitive to upsetting the financial markets. most of the zero rate policy that they followed has caused money to flow into financial assets rather than raising the economic growth rate. so of course, they are very concerned about the reverse happening, lower financial asset prices cascading into the real economy. the real economy looks good at this point. jonathan: the real economy looks pretty good, but what interests me in terms of risk this week is that equity fell out a couple of days, bonds were plunging a couple days, investment credit hung tough. high-yield was ok. ig spreads, still tight. jim, why was credit performing so well when the rest of the market was experiencing a series of m