Right.

This is two different looks at the credit market.

One is a sector-based loan across different industries that are experiencing pressure for one reason or another.

not related to the overall economy, but something specific to that industry.

And two, a vintage look where you're looking at what happened in 21 and 22.

Taking the sector look first, we talked about software, but a couple other areas that hit relatively hard.

Chemicals, this is really a situation where you had certain countries trying to reshore and build up the self-reliance of their chemical value chains, which has created an oversupply situation.

What could catalyze positive sentiment or price action for some credits considered AI expo? I guess to put it in the context of what we discussed, what do the survivors look like?