but get back to neil duane. you broach the subject earlier, and so far, nobody knows what the divorce is going to look like. theresa may has put the u.k. on high alert over the dangers of crashing out over an agreement. as well, she says that no brexit is a no go. what do you expect? neil: we definitely expect some kind of deal. we could get a deal on the 28th, unfortunately we staring into the abyss, we never managed to get their attention. it will be very difficult. parliament sounds like they want to have a deal. you call it crashing out. nobody other than the bank of england have explained why crashing out would be that disastrous. but it think we'll find out as we go through q1, at the moment, it is phenomenally uncertain. can i just make another point about the markets? i think we will see more m and a , and that will tell you one of your earlier questions, what the world thinks about the next couple of years. toughergrowth will be and companies will buy back so they have something to chew on. fascinating.

david: still with us is neil duane of allianz global investors. you think investing in u.k. equities make sense given all the we have heard. is that because you think it is as bad as it can get? >> yes, sterling is weak. the u.k. is slowing down rapidly. that is priced in. the ftse has underperformed for the last two or three years. other than a jeremy corbyn brexit, i, a hard disagree come it will be hard one way or another. i think that is in the price. the u.k. has already underperformed. alix: what sectors? >> the whole of the market. the domestic sectors have been worried about what the boe has been talking about, house prices, interest rates already flat on the backs. just certainty, whether a crash out for hard deal, we are then done. all the certainty is back in the market and people can make investments and start to move forward. dismal lookarney's at the economy if there is a crash out, that doesn't materialize? >> i don't think it materializes. i look at his scenario, house prices rising because he raises rates to 5%, really? a normal governor of the bank of engla