George, how sustainable is that?

We do think that this has legs.

It's important to remember this is a once-in-a-lifetime capex cycle.

And I think the important data point we need to be monitoring here is U.S. consumption, the resilience and strength of the U.S. consumer.

Because without that, everything falls.

Because without that...

Obviously, the U.S. companies, the hyperscalers sort of won't be able to spend the way that they're spending.

How do you kind of think about the opportunity there in terms of maybe Chinese tech stocks or indeed the fixed income market? When it comes to