still with us, michael zezas and thomas digenan.u take a look at that chart, the reaction has been go by emerging markets. does that make sense to you? thomas: it does. the banks are in an easing process. there's a reason the banks are using. -- easing. it's interesting, for u.s. investors, there is tremendous opportunity. we are in a low interest rate environment. alix: how long will that last for? mr. kuroda today talking about there is more potential easing from the boj. you have bill dudley talking to us about inflation being a target. michael: we tend to agree that em is your best opportunity within equities at the moment. motivated? being if you're looking for the fed to become more dovish, there's plenty of economic data points to get you in that direction over the course of the year. we tie this to the downside of fiscal stimulus. got $1.5 trillion worth of tax cuts relatively frontloaded. that was a very traditional stimulus. now, we are coming down off of it, it has created these procyclical incentives for companies. on to