andrew sheets and peter dixon are still with us.i don't know whether you like emerging markets, or you look at emerging markets as a segue from a possible temper tantrum from the u.s. years that said for the economic potential these markets offer is fantastic. if you can invest in them, stay there. short-term, with a huge amount of volatility, with concerns about what the fed is going to do, with concerns about what the dollar will do, you have to be wary about stepping into emerging markets. francine: andrew? andrew: on the equity side, we see better value in some of the developed markets. a market like europe offers that are outright deep value. we think e.m. has had a great run, but with the fed tightening policy, with quite a bit of tech it is a, we think market set up to be a little more challenged. that has been one of the core views of our e.m. strategy team. it looks good relative to other types of yield generating assets. francine: if you look at the fed, does a weaker dollar mean it could high-class? sorry, hike more. andr