We have other sources of risk. Bond prices and bond returns fluctuate over time. How much they fluctuate is a component of the risk that you're going to have to bear. If you buy a one-year bond of the US government or the German government, both of whom are very solid issuers, and the bond is very short-term, like one year, that bond price will fluctuate very little over time. But if you buy a bond that is a 30-year bond, that bond tends to fluctuate quite a bit more over time. That is what we call interest rate risk or market risk. Variability in bond prices, variability in returns over time, is one of the things that you have to look at. I'm going to say this very much in passing, and this is not strictly true, but everything else equal, in that case it becomes strictly true, the longer the maturity of the bond, then the higher will be the variability, the higher will be the volatility of the bond price, so it's important. Everything else equal, longer maturity implies higher volatility, and then your return will have to be higher to convince investors to buy a riskier bond. You have liquidity risk. Liquidity is basically the ability of people to buy and sell very quickly that bond at the market price. With US government bonds, with German bonds, with very well-known corporations bonds, those markets are very liquid. It's no problem to sell a bond or to want to buy a bond, and having someone on the other side of the trade. But if you want to buy or sell the bond of a very small company that doesn't trade very often, well, maybe it takes time to find a buyer, and maybe when you find it, you cannot quite trade at the market price. That is for liquidity risk. The easier it is for you to find a buyer for the bond, or a seller for the bond, the more liquidity is the market for that bond, and the less you would have to pay in terms of return. There's sovereign risk. That means that some countries are more reliable than others, and that when you invest in those countries, the probability of default actually goes up. As you go from country to country, in the same way that as you go from corporation to corporation, then the default risk actually may change, but when we talk about sovereign, we talk about differences across countries rather than differences across corporations. We have currency risk. You may be living in a country based on the Euro, or the US dollar, and you may be buying bonds priced in Pounds or in Yen. Well, that means that not only you're being exposed to whatever are the risks of the bond that you're buying, you're also exposed to how the exchange rate between your currency and the bond's currency is going to change over time. We can actually come up with a much longer list, but if you start from default risk, and then you think about interest rate liquidity, those are the main three. Then, of course, currency and sovereign risk also a matter.