on the business of fixed income and what to do right now, as we dive into the autumn, ian lincoln joinss. he writes really piercing, really dense research notes on the state of fixed income. ian, where is the belief right now, where is the opportunity into september and october? ian: well, i think it is an exciting period between now and the end of the year for the fixed income markets as well as for equity. the point was made earlier about buying revenue. i think that is going to be a story. but, there is a problem with that from the fed's perspective. because the fed does not want to see too much consolidation from industries. that is not good for the jobs growth profile. right now, between now and the end of the year, it is all going to be about jobs for the fed and are they willing to deliver more by the beginning of 2021? we are doubtful, frankly because financial conditions are as easy as they are. probably stuck in arrange for 10 year yields until we are through the election. when that occurs, i think that, if anything, there will be an upward drift rather than a bid into the end