 You mentioned about the tech sector, right? We've seen the FANG index retest its previous highs again. And could you provide insight into how mega-cap tech stocks are responding to... We spoke about the 10-year yields and how that's been reacting, but to the structural increase in 10-year yields, how has that been impacted? We've seen this AI frenzy tech stocks go absolutely crazy. They've pushed the S&P and the NASDAQ up almost to new highs. Like you said, people are thinking there might be some steam left, but we now see markets reacting differently. Yesterday with the Fed minutes, they've given a strict call, people have reacted. It was a shock to investors. We have the Jackson Hole next week again. Tie all that up for me. What do you expect next? The Jackson Hole is gonna be quite interesting because obviously in 2020, that's where Powell had introduced the average inflation target in framework, right? I wanna see if there's any mention of that again, because to be fair, they're approaching roughly their target now. And again, it comes back to those time lags. How long does monetary policy take to feed through? Are they now concerned that they're reaching the upper bound of their limit almost? They might reach it in under a year. So it's a very interesting time, but I think the tech sector dynamic, the way that I like to reframe tech stocks is that they're blue chip sovereign bonds at the end of the day. Where is the safety? Is the safety at the moment in treasuries, which are linked to inflation, if you're taking a directional bet, or is it in Google, Facebook, Amazon, which are still providing earnings? And apart from Google still providing a dividend. What is it? Where would you rather be? There's like the emotion of, oh crap, we might be going into a recession. But then there's the reality of, oh, we're not actually in a recession, unemployment's strong. Credit spreads are still really, really narrow. There's so many stories coming out. And I think this is where mainstream media, sorry for saying that, but it's true. Mainstream media does a real disservice to people because they're fear-driven. And if you're actually allocating capital, if you stop and pause, you're like, but nothing's actually wrong yet. There's a lot of data out there that's bad, but nothing's actually breaking. We saw, I mean, this is a perfect example. So we saw obviously Silicon Valley Bank break, go bust. We saw Credit Suisse go bust. But they're like footnotes for two weeks. Whereas if that was 2007, a massive investment bank going under, God, that would have been in the news for a year. And it's because of all the liquidity that's out there still. But the other thing as well that I think is a big change is the introduction of the regulations and capital buffers. They couldn't make as much noise because then they'd be saying, oh crap, like our regulations aren't working. Our capital buffers, after all of these years, they actually don't work. So yeah, a lot of stuff going on out there. But at the end of the day, people are still buying. The S&P gets bid up every single time it hits a low. Again, everything points to requiring unemployment to break, to reduce that credit liquidity, if you like, of people being able to use their wages to pay off their debt. Yeah, look at credit spreads, look at unemployment, see if they correlate. It's probably quite a good signal to see if there's issues coming up. The markets lost trust in the Fed, do you think? No, they're completely guided by the Fed at every single turn, like the Fed, do you know what? I think Powell's done a fantastic job, quite frankly. I know most people like rail against him, but what more signposting and guidance could be provided? Yeah. You know, what more could they have done? They're kind of bound by their role at the end of the day as buyer of last resort and everyone is gonna pin the blame on the Fed because at the end of the day, they control the market. They control the direction as face it, the US Treasury. I think they've done a good job.