History shows us that after the rate reset, bonds and stocks can do well. Investors have good options to deploy new money. And indeed, today's starting point of higher rates gives multiple choices to investors in crafting their financial plans. The key points of our outlook are inflation will likely settle. We see a landing zone in the 2% to 2.5% range. The cash conundrum, we think this is as good as it gets for cash. And we think that the opportunity cost of not being invested has started.