Welcome to Talking Data which is our weekly series of podcasts in which we highlight pertinent bond and equity market themes.

I am your host Kristen Radosh of Arbor Research and Trading. Our presenters today are Jim Bianco of Bianco Research and Ben Breitholtz of Arbor Data Science.

Today, we will be discussing Fiat and Crypto currencies. Going into the new year, there has been a lot of discussion about the strength of the dollar.

· What is the state of the dollar against fiat currencies. What issues should investors be aware of?

· How real are cryptos? What issues do we need to consider?

Thank you for joining us today. As a reminder, Arbor Research & Trading is an institutional research and brokerage firm. Our two most prominent research offerings are Bianco Research & Arbor Data Science.