There's a bit more optimism in terms of the growth outlook beyond the fourth quarter. That's going to support higher yields.

The U.S. economy is doing okay and you have global growth doing fairly well. That's encouraging yields higher. A 5 percent yield in 10-year Treasuries represents fair value.

The U.S. will add more jobs and I expect that will support the view that the Fed will go to 5 percent. There's enough momentum to take bond yields higher.

It was more and more challenging to get growth from that asset. We're replacing a slow-growing business that does not fit into our core franchise.

We still expect Treasury yields to move higher. The rise in oil is starting to be a concern once again.

The strong returns over the quarter added to the good performance of the diversified funds for the previous nine months.