roelof: i think the bond market is spot on.t is saying that growth is slow, and the short end of the yield curve is telling the fed to lower interest rates by more than they are currently saying. where do you see the 10 year yield? we saw it bump back up yesterday to 1.74%. this is probably more a qe issue than a trade issue. where do you see the 10 year yield going at the end of the year? roelof: we have allocated a bit more to u.s. treasuries. u.s. treasuries are effectively higher-yielding than german bund's so you don't have a lot of risk there. we have seen growth momentum slowing and the fed needed to do more. you don't have very big risks and yields picking up beyond 2% so we are ok there. nejra: does everything you have said contribute to dollar strength improving? coming up, spain's prime minister tells us a note due brexit is the biggest risk to his economy. our exclusive interview is next. matt: tune into bloomberg radio on your mobile device or digital in the london area. this is bloomberg. ♪ >> trade wars are not g