Is Lula 3 Really Similar to Lula 2?

I think there's an interesting pairwise discussions in the EM... So in the DM world, I think we're in another one of these worlds where the Swedish are having an extreme cycle. The Norwegians are your sort of low heartbeat, their country and central bank. And once everything tanks will probably end up being much more aggressive on the downside. There's a huge amount of political oddity going on in EM. But I think, generally, the EM world is looking pretty good as we go through the next year.