Okay. This is. Matt. Take one.
Hi, Matt. Here. Well, I think
the most interesting
area and opportunity
currently and frankly has been there
for the last ten years
is within the the sterling
residential mortgage backed
securities market and within that
it's UK non conforming
and UK buy to let mortgages.
As you can see from the chart.
For the last ten years, you've been paid
pretty much the same
kind of credit spread on these
triple-A securities as
you have on Triple B unsecured
corporate bonds. So essentially
what you're being paid,
you're being paid roughly
the same amount of risk premium
on these bonds, which are at a much
lower risk of defaulting than those
-triple B corporates.
-I don't think we can get there.