nick nelson of ubs is still with us. nick, investors are waiting on the fed today.ut here we're still waiting on the ecb waiting for action to take effect. one of the big one corporate bonds in a few weeks here. how is that going to impact trade? >> well that's a good question. we've seen spreads tighten dramatically so. an aggressive program given the parameters they're suggesting we would highlight this massive gap in dividends and corporate credit yields. equities have got dividend deals of 3.5%. the dividend is more attractive than the corporate credit. >> and just before we go, any favorite sector at the moment? >> well, i think cap goods industrials are pretty right especially domestically exposed. >> that is the word of nick nelson head of european strategy at ubs. a real pleasure to have you with us today. thank you. that is it for today's show. i'm nancy hulgrave. "worldwide exchange" is coming up next. >>> good morning, breaking overnight, japan gdp growth surprises the markets. >>> new this market, goldman sachs threw up a caution flag. we'll tell you why

anna: nick nelson, head of european equity strategy at ubs, is still with us.t us perspective, how are you -- from the market perspective, how are you finding people zooming in on this? there is a feeling that markets haven't zoned in on it. is it all the talk in london? >> there are a mixture of topics. it if you go to the u.s., think it's quite important. , they are looking at what it means to the u.k. and sterling, and for exchange markets have had their eye on this quite a lot. we have seen volatility in sterling around that. equity markets have been more different. if you look at the ftse 100, 75% of revenues come from outside the u.k. if you benefit from a weaker sterling, they aren't focused on the u.k. economy. it's clearly not that negative, although the domestics and real estate stocks, those are more focused. one thing that intrigued me is that investors are interested not just in the u.k., but the eu. where does it leave the rest of europe? anna: because of the fear about the domino effect, and other people asking existential questions? >> precisely

sergio looking for his second here at the at&t byron nelson. nickthe bunker on the right-hand side is a good -- sorry, 315 out. as you saw earlier on then as they like, which is always nice to know that you're more than likely not going to reach it. gives you a perfect aiming point, don't you think? peter: yeah, the wind is sufficient -- it's actually picked up since they last played it so i think the bunker is out of play. great line. nick: wow, that's a bit mighty close to the water. peter: this is left. nick: could that be gone? we go back to tee, didn't even take a practice swing. picked it up and did that. now sergio can put the driver back in the bag, i would have thought. he knows darn well, neck one into the right rough and he's looking good. nancy: bill: this is ser playoff on tour. he won here in 2004 in a playoff. robert dedmon and dudley hart. holds the finish. nick: right across the edge. bill: left side of the fairway and we'll be back with more from the at&t byron nelson right after this word from your local cbs station. bill: here's