Good morning I am Dean Choksi, UBS' Consumer and Specialty Finance Analyst. Thanks for joining us for our next presentation. I am pleased to introduce Ben Hough President and COO of Hatteras Financial. To his right John Dalena, Chief Strategy Officer of Hatteras. Hatteras is a $3.3 billion agency-mortgage REIT with a portfolio of shorter duration hybrid ARMS. It trades at 1.06 times book with a 12.5% dividend yield and has one of the lowest expense ratios among its peers. Ben Hough Thanks Dean and I appreciate and thanks to be here this week. I want to give a brief overview and discuss with you some of the details, but I want to be – want you to free to interrupt me for questions in the middle of it at any time if you have just anything you want further clarification on. Again Hatteras is an agency-only US mortgage REIT. We have a target asset class of short duration hybrid ARMS and I will give a little more detail on that in a minute on where we fit into the yield curve. We have an experienced management team that has been together for a long time, Hatteras has been around since the fall of 2007. However we have managed almost identical strategy, agency only, ARM only mortgage REIT since 1998 and a private structure which we still own that private structure, so we are externally managed under Atlantic Capital Advisors that manage both ACM and Hatteras. So we do have an extended track record through multiple interest rate cycles and we take a long-term approach to the model and to the strategy and I will get into that here in a second but it is focused on an asset liability mix where assets and liabilities work together throughout an interest rate cycle to provide a longer-term risk-adjusted return that we feel adds value to the portfolio.