still with me, priya misra, matt toms, and iain stealey. thoughts as we go through the weekend into next week. what are you looking for? priya: the move in the cmi is going to be pretty critical. are we going to get to the seven level? it is a psychological level that is going to trigger risk off. i think the market was happy to see all of the china data overnight, but it does not help the trade because the trade has reached a record. china will be important and i will look at the housing data. primary mortgage rates reached the highest level since 2011 but affordability is not that great. firststart seeing the signs of this impacting the housing market? jon: interest in you mentioned china, we are going to get that treasury department report and the reports ahead indicate the treasury could be leading saying no, they are not a currency manipulator. if they were labeled one, what would it mean to you? priya: you wonder what does that mean for risk assets -- does it mean more tariffs? it is very risk off. they do not satisfy any of the crite