What's your view?

So it's, it's true that Japanese rates are at the highest level they've been in either 30 or 40 years.

I would say that the market continues to think that relative to levels of inflation in Japan, they're not, they're, they're still pursuing an easy monetary policy.

And so even though yields are higher, they're, uh- They're not high enough to create appreciation pressure on the currency.

Um, where you've, where you've seen the biggest moves in Japanese yields over the course of the last, let's say, six months, has really more so been in the back end of the curve, and that's more so driven by inflation expectations than it is by monetary policy.

Our house view is that in the absence of Japan, the Japanese government, so both fiscal and monetary pursuing more hawkish policies, there will continue to be weakening pressure on the Japan, um, on the Japanese yen.

With that said, there are a couple of things that could change that, and the, the thing that's most notable is that, um, you know, if the investment policy within the Japanese pension system changes to be less dollar-focused and more domestic-focused, that would potentially have a pretty i- big impact on their, on their exchange rate.

What's the trade?

We switch who's singing lead.

lead.Who's doing harmonies, all that kind of stuff.

Um, so to be able to bring the live show, which is so much fun and where we get so much joy, and bring that into the studio was, you know, something I think we'd all been looking forward to for a while.

And, um, and who's taking lead vocals, and can we set the song up a little bit?

Uh, yeah, for Don't Let Go, uh, I, I take lead vocals and it's kind of a duet with m- uh, Mike and I. Um, we have all started to notice this phenomenon on this record where we're all starting to sound like each other.

Where I can't even tell the difference sometimes.