Good afternoon everyone. 3 of 3. The record stands at 69 graded, 62 held, 7 broke. · Credit started the week at 3.15 and ended at 3.23 against the at or above 3.00 line. Held. The break got wider through the inflation week, and its lowest close was 3.11. · Rates started at 4.789 and ended at 4.721 against 4.822. Held. CPI took the 2 year to 4.950 on Wednesday morning, through the line, and it closed back under that same afternoon. The line is graded on the close. · Equities started at 7,811.5 and ended at 7,659.4 against 7,650. Held, by 9.4 points. Tech and chip stocks led the week’s 1.9 percent drop. This week asked whether the credit break would survive the inflation week. It did. The spread held above 3.00 every day and finished wider. The inflation shock reached the 2 year for one morning and was gone by the close. The defensive lean had the direction right: credit wider, stocks lower, volatility higher. None of it broke a line, and the rates side, the one CPI was supposed to test, ended the week lower.