sameer: i think so. of these policies and them being an accelerant or dampener, they are accentuating over what we have seen over the past 3, 5, 10 years. you want to lean into the u.s.. want to fade emerging markets. want to fade defensive. the nice part for investors is they are amplifying what is -- what has already been the positioning or right way to position. i think you are right. that is where the risk is, that the markets are under appreciating how quickly they are going to move, with the fact they have had almost four years to plan for this. dani: where is it showing up? what looks mispriced that is not appreciating the risk of acting quickly? sameer: i think that is what is so fascinating. the market is almost acting exactly as it should. emerging markets have been week. eu currencies have been week. if there is a place i think it is going back to the right side. if you have strong growth and an upside skew to inflation i think you could see an over-shoot in interest rates on the long end. jon