Rob Armstrong

This is just more evidence of that, that what the Saudis like, the smaller Gulf states don't like, which is different from what the Iranians are hoping for, which is different from etc., etc., etc.

Let me try a hypothesis on you, Katie.

If you look at this mess and then you look at how U.S.

markets in particular are doing well right now, bonds steady and stocks rising, maybe there's not a contradiction there after all.

Maybe in a fracturing world, you want your money to be near the biggest thing that it can be near, and that is America.

You want to cozy up.

Not to the nicest, but to the biggest.

Now, this is kind of barstool psychology on a global scale by me.

But I think that thesis kind of makes sense that, you know, you might there is a flight to safety trade in the U.S.

right now, even when and we've talked about this a lot, even when the U.S.

has its role to play in creating the instability, a flight to safety still points to the United States.

It's like when your crazy uncle starts acting normal, you're like, what's going on here?

Something's wrong with old Joe.

It's not just earnings expectations.

So earnings for next year, the year after that, they're high and even unreasonably high.

But I'm just looking as of last Friday, according to FactSet, the companies in the S&P 500 that have reported so far

Which is not the majority of the index, but it's a lot of it.

Their earnings are up like 15% on average.

Very good.

Revenue is beating expectations.