Puerto Rio, Abu Dhabi, Iraq discussed on BTV Simulcast

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70 So if you do get yields being pulled down to the one 30s like they were a couple of months back then you can see a ten point appreciation in Iraq So these names have further into run Whether it comes at yearend or whether it actually follows through into next year or an inflation goes away and the growth is big and growth is coming down But one way or the other we feel pretty comfortable sitting in these long end names Yeah and I've had a number of gas and I join me with the same narrative as you the Puerto Rio opening in the United States of America running 24 hour not reopening but they're going to run 24 hours You are seeing this movement to try and do some of the bottlenecks Night the UAE be careful here over because you could get a call from the federal at regulators The ten the 20 and the 40 year paper came at a federal level You're not inclined to buy much more of this but you draw the analogy that this paper came close to the pricing of Abu Dhabi So can you just help me understand why you don't why you might not add to any more federal exposure given that it's pricing towards Abu Dhabi Is that too expensive for you The federal to Abu Dhabi just taught me through the narrative Sure sure Well hopefully we won't get a call 'cause we did participate so I'll get that out of the way first We did buy the ten year And I think it's been a success for you From that point of view because it was managed to race 4 billion extremely low yields 5 and a half times I've subscribed So from that point it's a success But just from our point of view from investor standpoint we thought it would be priced a little bit higher than I have a debit card because it's not just Abu Dhabi race You're talking about the other emergency as well goodbye shashi And the rest So we thought.

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