you just got a very serious refresher course in the dislocation of risk across these markets forget about your 6500 the sequencing was this Vladimir Putin lowered the bar for the use of nuclear weapons he signed off a Doctrine did it structurally change anything no but it certainly spooked the markets and the next incident that occurred was this it was the moment that Ukraine actually used its long range missiles which the US had authorized earlier this week this is about building ground for negotiation from the spooking of the World by Vladimir Putin to really trying to grab something to negotiate with by zilinski as we go into the final furong of this tortured War Grand zero of the reaction function was in the bond market down on the Putin uh on the Putin news on yeld and down we went on the Salvo from Ukraine into Russia this is about understanding that geopolitics in the very short term can on seat your longer term macro perspective