recovering from yesterday's yields, joining us now is jim polson.im, were you surprised that it was only a 12 hour of fair yesterday morning, and we are holding to the highest yields? strong upsidee price momentum here on the stock market. it is probably going to take more than a temporary positive a single day. positiveuses -- such optimism, i think you are going to be seeing a lot of buying on the dips. i am more and more cautious on this market. high the strong price momentum is going to take it, it can certainly go higher, that is challenges forming for the stock market. we have the most positive investor optimism we have had in the entire recovery. and ill of worry is gone, think optimism is to bullish. we of course have rising yields, and it is not only in the 10 year, it is also in the five-year, two-year, cash rate. we have this happening with ultimately high valuations. with strongs year and stout economic earnings, and we have to creeping inflation in the system. when you say inflation, are you talking about the u.s., or overseas markets?