let's bring back in mouhammed choukeir. d: q3 can only be described as pretty sanguine, or a calm quarter. q4 will present a number of risks. there are a number of geopolitical events, the u.s. election and an intensification of a brexit negotiation. there is central banks and the federal reserve has a meeting in november. they are not expect to move but in december, a move could cause some changes in market sentiment. echo i want to show you -- guy: i want to say this chart. it is ounce back during the quarter -- it has bounced back during the quarter but continues to be crushed. do you expect volatility to rise in the next quarter echo mouhammed: -- next quarter? mouhammed: when you are low, the only way is up. whether it comes in the next month, it is difficult to say. there are a number of events that could cause this action. caroline: what in terms of volatility across asset classes moves the most? is it in the equity trade? where do we see the asset prices move the most in the next quarter if we see this continuing ban