we ratify the election of leslie davis. all those in favor signify by saying i. all opposed signify by saying no. the ayes have it and i'm pleased to officially welcome leslie as a member of the republican national committee. it is also my pleasure to welcome four new state chairman to the republican national committee. james dyer mott from maine, alex from minnesota, amy from new mexico, and ramon northern mariana islands. i congratulate each of you on your election and blocking all as members of the republican national committee. each region held elections after breakfast this morning. please holger applause until i have announced all of the winners. the results are as follows. the following members were elected to serve as regional vice chairman, from the midwest region tamara scott national committeewoman for i will, and stephen scheffler, national committeeman from iowa. from the northeast region, susie yankee national committeewoman for rhode island, and john freight national committeeman for connecticut. in the southern region, beth bloch, national committe

we ratify the election of leslie davis. all those in favor please signify by saying aye. all oppose signify by saying no. the ayes have it and i please to officially welcome leslie as a member of the republican national committee. [applause] it is also my pleasure to welcome four new state chairman to the republican national committee, james from maine, alex from minnesota, amy from new mexico, and ramon, northern mariana islands. i can gradually each of you on your election and will can you all as members of the republican national committee. [applause] each region held elections after breakfast this morning. please hold your applause until i've announced all of the winners, the results are as follows. the following members were elected to serve as regional vice chairman. from the midwest region, -- national committeewoman for iowa and stephen, national committeeman from iowa. from the northeast region, susie, national committeewoman for rhode island and john national committeeman for connecticut. in the southern region, beth,, national committeewoman from west virginia a

davis had said earlier. this idea that duration is something investors should consider taking on. would you take on duration, given those risks that are still out there? if so, how aggressively? leslie: we are taking on duration, but we are taking around that five of the yield curve. for us we would extend further out that act and. we have not liked the back end of the yield curve for some time. i be if we got to that tony 24 high and we could consider sending it out further. i think it is important to note it is not just about the fact that interest rates have gone higher. it is the velocity, how quickly they have moved. you have seen from the september to december fed meeting, from the third and fourth quarter about an 85 basis point rise in 10-year yields. we are adding on interest rate risk. but we are looking for opportunities to add further out the curve, where -- but we are going to sit tight for a while. sonali: if you have investors starting to take out duration you do see the potential for yields to moderate. ed you take on duration risk --ed, would you take on duration risk longer than that? what is the 10 year start to head this year? ed: there are two relative valuation