henrik johnson is here with us from deutsche bank.d to see you here. >> thanks for having me. >> maybe a bit of profit taking for the u.s. markets and european markets, but by and large, so much exuberance in the markets. how is this reflected in the daily bread and butter? >> these are the best market conditions we had for primary issuance for two years if not longer. you have credit spreads at three or four-year lows and equity markets at all-time highs. the good news for us and the market has been the investors have been receptive to primary issuance. >> talk us through the risk spectrum and issuers. what are we seeing here? >> we have the ig bond market up 30% year over year in volume terms. that's a big numbers. that's $60 billion from this time laughst year. within financials, the issuance is up over 100%. just showing a capital retirement theme from the banks. the really exciting thing is in the leveraged financed markets, we are surpassing the last year's full-year volumes in the next couple weeks. that market has been unfion