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I'm Tracy Allaway.

So Tracy, obviously 2019 for sort of May. So Tracy, obviously 2019 for sort of mainstream risky assets like stocks in

develop markets has been a it's been a pretty good one.

Yeah I think we're ending solidly up on the year it looks like.

Yeah, one of the weird things though I would say is that despite the you know on the surface everything looks good or growth I guess is okay stocks are up a lot

There are a lot of things around the world this year that maybe in another year would be seen as more

systemic or troubling all kinds of hot spots and flare-ups and protests basically everywhere you look.

Yeah, so as someone who's in Hong Kong and has been for the past six months, one of the

really remarkable things about this year is just how fast we've seen social unrest basically spread around the world.

I think Hong Kong was the first place where it really cropped up this year, but then we saw lots of protests in South American countries. We saw them in the Middle East yet again and a lot of these are still taking place of course and it takes a while to sort of get through the impasse with

protesters. Yes and there there's all these protests you know they have

multiple causes but each is in some level inextricably tied to

something in the economy maybe the economy or some economic decision is a

spark of course everything is very complex but all kinds of things

related to public subsidies and pension systems and cutting of government support for various domestic programs, they seem to frequently play a part in the unrest.

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