mr. worah: good morning, betty. right now, there is uncertainty around what the fed is likely to do. will it hike a couple of more times, four more times, and boc is doing.he e there is some uncertainty. we do think u.s. continue to grow at a healthy pace of 2% to 2.5 percent, and that is fine, but clearly the market is unsettled right now. betty: so, have they been exaggerating or over-exaggerating the concerns -- or do you feel the markets are accurately reflecting the uncertainty you just described? mr. worah: markets sometimes tend to overreact. and at pimco, we did expect ather volatile year for 2016. a key factor is the fed, as the fed starts to hike rates were the first time in nine years. that feeds some uncertainty into the market here along with the fed hiking is the fact that valuations across many markets are fairly healthy. betty: right. mr. worah: as prices have been pushed up by low interest rate. the market is reacting to this uncertainty. while it is more than we expected, we e