let's get back to richard turnill. you look at what we can hear from jackson hole, what kind of tone can janet yellen strike to move treasuries? >> i think you are unlikely to get any significant change in policy coming out of jackson hole, even from janet yellen or draghi. the entire message we are trying to get from central banks is one of predictability, one where they are guiding markets. i think you are going to get the reinforcement of those messages, that the fed will be very cautious about raising interest rates. i do think you look at anything out of jackson hole which will shock the market and undermine what is a constructive economic market int he u.s. -- in the u.s. i think the fed will be very cautious about saying anything that will disrupt the positive background. francine: we are talking about qe infinity. it seems we have that a little bit longer until we figure out what is going on with inflation. >> it is very hard for central banks to exit. they tried in june, striking a hawkish tone. that was not ju