Are we beginning to see a fixed income market take the place of the bank loan market? 2014 has gone down as the year most investors burnt their fingers in the equity market. The industrial index went down 20%. If conditions persist, we have no reason to expect that 2015 the index as a whole. But in the midst of this gloom, careful pickers will generate moderate returns. The real estate market has not done that well as well too. Amid the pessimism, the bond market has experienced a resurgence which we believe, is here to stay.