withinlook at this chart the investment grade credit universe. that purple line is your triple b, total return, coming out on top with a .1% gain this year. see such a resurgence after all that talk. >> it is still early. great job. let's rejoin our conversation with rbc and bloomberg intelligence. we are waiting for ibm to come out with results. you are underweight and technology. tech has software, services, hardware, apple. is there pessimism on technology or caution across the different groups? >> we think semiconductors are looking interesting from a valuation perspective. i think you need this earnings reset. it is also trade sensitive. you need progress there. the area within tech that i worry about is software and services, the domino that has not fallen yet, violations high, sentiment bullish. that was true for hardware into we got bad news in that space. we are still underweight. but youcome off of it, have not seen an f dominoes fall yet. >> one of the big discussions is cloud and the corporate i.t. spending. it could affect the broade