katie: joining us now is invesco's matt brill and kelly burton of bearings.lly i will start with you. what amanda lynam was just talking about we have been talking about all year. riskier credits have been outperforming in 2023. windows are run out of steam? kelly: good question. here in the world of high-yield bonds, triple seeds have massively outperformed the rest of the market up nearly 13% year-to-date. we have had a lot of compression in the lower bands of the credit quality spectrum. what we have really tended to like in our asset class has been quality trade. double v's today you can get at 7.5%-8%. we feel like investors don't have to reach down far in the credit quality spectrum to garner some pretty attractive total returns. katie: to finish that thought, when you reach down? when is the time to maybe look towards the riskier end of the spectrum? kelly: i think as we move into 2024 if we really can get a better sense for how the lagged effects of all the credit tightening we have seen to date are starting to run through the market, if we can start