tony rodrigues spoke this week about the fundamentals. >> we are seeing the equity expense in the credit markets is emerging markets are doing well. high yields doing we will so credit rick is highly value and fundamentals are very solid, defaults are low. you are seeing the same in the fixed income but it is focused on the credit sectors. >> maureen, maybe after we have gotten more information gives a recalibration on how they are thinking of tapping the market after the job reports and rates higher. >> when you think from an investor perspective we're at a month where good news is good news for credit markets. as rates sell off it should be credited to spreads and they are tightening annual we're done it two-year and close it decade highs. the question is hutch further we can run from here but the story is elevated yields have supported lofty evaluations in credit markets and it is likely it continue. you see the cost of didn't rise but beeper in the high 4's in 10-year yields so we are off the peak and we've some things that need to be addressed so it will right hand hesitate pott. >>