at someman is looking of these big market movers. had energy staples in group.d to highlight the philadelphiahe utility index up 2.5% and this coincided with the drop in the 10 year yield to a one-month low. as we were saying this risk off environment, we saw people buying treasuries and yields falling but that accelerated as the day went on. if you look at my terminal behind me you see that ailadelphia index is a must perfect inverse relationship. it has been over the last year or so. one of the reasons why is -- there are a couple of reasons why. utilities have relatively higher levels of debt. they have relatively high dividend yields. you see the competition on these utility stocks and yields on treasuries. in other words, the lower the yield, the better news for these utility stocks. clock standsnt up at 1372 days since the last correction. a huge indication of where we have not seen that correction. two charts ofk at why you should be scared about china. the first one is going to be iron ore. below the $50 a ton level. it are w