Bond Market

When yields are rising, you're having a lot of bonds that you can buy below par at very discounted dollar prices. And we want to be investing in companies where we have vision on the cash flow. So I think that we were generally all of last year very focused on keeping both our duration risk and its spread risk concentrating in the front end of the curve. Now that we're kind of in the reverse of that story, I think that you can feel more comfortable extending out the curve and extending duration of your portfolios to those 10-year and 30-year high-quality instruments.