is inflation has ticked up a bit, interest rates have ticked up a bit reflecting that tick-up in inflakesand the market is a adjusting to that. importantly, though, on the front end, gdp growth is going to accelerate this year. corporate profits are going to be in the mid teen growth in 2018. and we are in the -- going into the tenth year of an economic expansion in a bull market and we're gaining acceleration in gdp and growth markets. maria: we saw a gdp number up 2.5% growth for the first quarter. we're expecting earnings to be up 16.5% for the first quarter, earnings in the s&p 500 to be up 18% for 2018 and we're expecting growth to continue to pick up in the year. how do you invest in that environment? >> well, look. you certainly need some encyclical exposure. that would be industrials, basic material, financials, technology, you can use the pullback in these sectors that we've experienced in the past weeks as an opportunity. but i also don't think you want to ignore the defensive side of the equation, consumer staples, health care primarily. we would avoid the pure interest rate se