 Let's bring in Susan Schmidt, head of public equities at the state of Wisconsin Investment Board. I just wanted to go back to something that one of our guests said earlier about an increasing level of protectionism when it comes to trade. Is that what your analysis of what we're beginning to see in the global markets at the moment? Well, I think that's certainly what investors are expecting. They're increasingly cautious around what potential impact tariffs might have and that reduction in trade and what it will do to companies operating margins.