lisa: kevin giddis, ed al-hussainy, scott kimball all with me.cott, are you seeing the recent selloff we have seen in the high-yield bond market as a buying opportunity? scott: on the margins there are opportunities that present themselves. the challenge is it has been dispersed and not everything sold off equally. we try to normalize valuations in our fund. investment grade versus high-yield. we convert everything to spread. what is happening in high-yield, we have seen 50 basis points come out of high-yield since spreads were at their tight. you look at areas where spreads have widened the most. looking at a few bonds, yielding 4.5%, about to buy at six or 7%. that window opened but not a wholesale opportunity to jump in. lisa; blackrock saying this is a buying opportunity but perhaps selectively. the managing director writing, "after the recent selloff, global high-yield spreads are now relatively more dislocated, offering a tactical opportunity to earn a pickup in spread," echoing what you said. kevin, do you agree? you are seeing people come