alix: we are back with neil dutta and steven englander. when you look at the global effects market, in terms of developed currencies, it seems like things have stabilized. in your opinion does that mean have seen the peak the dollar? i think now, especially in q4, the major central banks of the world, by that i mean the central bank and the fed, see it in their interest to stabilize global asset markets. think the chinese authorities are determined to get into the fdr. i don't think they care how much reserves they spent or what it markets asabilize decisions are being made. the focus should be on when their second hike comes. they want to do the first hike in december or later in the context of stable asset markets and the feeling there won't be any asset market disruption to they moved in december and said see you in june. anybody would be to do that too concerned. the question of how steep that slope of hikes will come back. scarlet: in talking about china and what it does to make sure gets into the drawing rates for the imf, what does