. >> if there is any weakness, death jonathan: joining me -- jonathan: joining us from chicago, john biancaat 2020, it looks like the consensus is rates well stay where they are or go lower. where do you go on that debate? torates will probably drift lower. that has been the story the last 10 years. we have had no inflation. we are in a record expansion. cannot generate inflation right now. rates are down 75 basis points on the 10 year yield. the path of least resistance has been lower. i do not see that changing. >> we are calling for higher rates this year, not a huge breakout to the upside, but we are looking for two and a quarter stretch. unlike last year, we are starting at a higher level with the economy slowing down. now we are starting at a lower level with the economy looking better. we see room for the term premium to come up. inflation expectations to pick up a little bit. >> i would say we are in a similar camp. we think rates have room to move up from here. roughly two and quarter is our target. you can summarize it in a simple way -- we expect growth to be upwards of 2%. we th