I get a 16 pt premium!If you consider we are about to switch to...

I get a 16 pt premium!

If you consider we are about to switch to Dec SPI it is a 39 pt premium.

Can't be considered an outlier as we already did that I suppose, although it was a one off.

It certainly says the pessimism is gone and good times are ahead, as all the news proclaims.

So, lets see how modest the premium remains (modest is good, excessive is a disaster warning).

Then we need to see how the prem/disc behaves on any pullback. On any pullback if we switch back to discounts then it is just a correction, if the premium remains then bigger downside awaits IMO.