here with us is sonali basak who has john zito with her. >> thank you for joining us.you made the comments, we were just starting the rate hiking cycle so when we look to now and we may be closer to the end then beginning, what is left of the opportunity when you look to capitalize on higher yields? john: thanks for having me. i think we have those comments the s&p had been down 8% and people were not loving credit at the time. flash forward to today, obviously the environment is still very exciting. for the last 14 years, we have had effectively debt market subsidize equity markets. so with rates at zero you had to be an equity investor, you had to -- if you did not taste -- take risk, you would not earn the return to serve your clients whether a pension or endowment. today it is different. you can achieve your cost of capital by investing in say field in investment grade credit in direct lending, anything in the credit markets given where yields are you can achieve your return. it is a lot easier and people have not really built their teams to invest in credit. they

kriti: apollo global management deputy cio john zito on the buyout and the relationship with banks particularlyn it comes to private credit deals. let's get to top stories from around the world. north korean state media says kim jong-un and russian president len root putin have reached -- vladimir putin have reached the agreement. they met for the first time in four years at a space center in russia's far east region. have failed to deploy satellite and some analysts are thinking kim may be looking for help on the tech front and return for supplying arms to russia. in north africa, roughly 8000 people are reported to have died and many more injured or suspected missing in disasters that have struck morocco and libya. the libyan military says flooding due to storm destroyed most half of the town. the earthquake morocco killed 3000 with more injured. rocco is excepting aid from spain, the u.k., tar in the uae while rejecting -- qatar and the uae while rejecting offers from the united states and france. let's get a check on the markets because we are seeing action in anticipation perhaps ahead of