ETFs - The Last One Holding Got Sticked With It

Sovereign is just the debt obligation of the country. Quasi-sarvern is typically an entity owned by the state that issues GSE or like take Pemex in Mexico, as opposed to Mexico,. Got it? So let me stick with sovereign adjacent. But you know, today the markets, you know, think about now there is a buy side ETFs, 40-X, the buy side is so much larger than the street. It used to be just the street. The street had a lot of balance sheet. Today, if you take emerging market corporates as an example, there's go back five years, 10 years. Emerging market corporates are five times