We saw $986 billion in stock change hands on Fridays.

This is the largest dollar value ever traded on US equity markets.

That's according to Goldman stacks.

Think about that.

There was also massive volatility around E T s.

So how did they all hold up?

It says Chris Hempstead from Index I Q.

Nicola's from Data Trick.

Nick.

The largest high yield E T f.

We're all watching high yield H Y G lost 20% of its assets last week.

High yield spreads blew out.

How to trading holed up in What about today?

Trading held up really well.

If you look at the high yields President Goto one year highs that was 470 basis, which we have 460 last week.

So those redemptions in H.

Y G and J K was almost as bad.

I didn't have a found effect on the high yield market.

That's really good news overall.

Remember all those people kept saying, Well, this we ever get stressed.

It's going all blow up.

Chris, let me ask you the two largest Vixie tips.

The T V i X v xx.

They also had huge outflows.

Given that several of these vics products, remember, blew up a couple of years ago, how did the vics volatility?

E T F C pulled up?

What are they doing?

The vics volatility t s held up remarkably well, Like most.

There's 2480 s, Bob.

They all held up remarkably well.

The long short merger are beating.

Everything really held up well in this market.

And the verbiage that was being communicated to me by liquidity providers was orderly.

I understand it.

We had doomsday airs on Seo.

Whatever happens, we get real stress in the system.

He's more thinly traded ones with more difficult to trade bonds like high yield.

Thank Lord Bank loans.

They were gonna blow up on us.

Why didn't they?

Why was the market orderly?

Inefficient?

And there's no crystal ball, ever.

But with, to your point, the highest notional trading day ever.

And these products held up perfectly exactly as they're intended to do.

Nick, you had a lot of calls from clients over the weekend.

You were telling me you make it Advice?

Are you telling them by today?

What are you giving?

What advice?

You give your clients right?

We gave our clients to levels to look at on the vics.

The first is 42.

Vics goes over 42 year by looking for a trade.

We hit those levels and a little bit above on Friday morning.

That's one of the reasons waiting about's today.

The second level, where you piling is 55 above.

That's a real crisis.

A down 55 standard deviation It is.

It shouldn't even never happen.

It shouldn't happen.

But it happened for most of Q 408 You buy it those levels.

You wait 3 to 6 months, you have a game.

So those are the two levels.

Tow your historic ideas?

Exactly.

Is there any chance this is?

This is one of those black swans like 2008 was not yet.

No policy makers have the right thing going on right now.

I'm like, a late Ok, thanks, guys.

Chris, Nick, Thanks for joining me.