Do You Think Bonds Are the Place to Be?

We're still trying to figure out what snaps that positive correlation between risk equities and traditional fixed income, say, sovereigns. Do you think that breaks this year? And Lindsey, why do you think it does break? What leads to that? I think it goes right back to what Tom just said, which is we had two black swans. We just had COVID and we have a land war in Europe. So those are things that when you're looking at a theoretical model, black swans aren't part of it. The world's changed. You know that all of a sudden the sharp ratio matters as well. Our viewers and listeners have to deal with a new cost of