we welcome back katie nixon for northern trust wealth management which has more than $200 billion inder management. a great day to have you here, and it's good to see you again as always, but there is a lot of nervousness in this market, even though we all knew detroit was struggling. we know it's been a long-term decline in population in detroit, so maybe we shouldn't be surprised, but it's having some ripple effects through the market today. >> sue, i couldn't agree with you more. shouldn't be surprised from the events as they unfold in detroit. it's a tough situation but one that's well forecast in the market for quite some time but i do think it reinforces the importance of the quality of bonds they have in the portfolio. core fixed income and core municipal bonds. the risk control assets so it's very important that we know the quality of the bonds that we own. >> but you do not think from what i understand that the detroit situation will be repeated in numerous municipalities across the country. >> no, sue. detroit is a very unique situation. there are several unique situations