“I think as long as rates are moving, we will probably see similar action and similar results, yeah.”

In context

“trading activity, but that really just reflected what was happening with interest rates in the quarter. And if you think about, again, our asset liability management, we are heavily investing in private assets right now, and it takes time to originate those private assets. So we are putting in assets that are more liquid and as we replace those in the permanent structure with private assets, given the interest rate movements in the quarter we saw losses in that. But again we pick it up on the back end, of course, because the private assets are higher yielding. Tom Gallagher: Got it. That makes sense, Steve. So I would assume some of that, there could be a little bit of a tail to the trading aspect of that as you roll into 2Q and rates have continued to go up. Is that fair. Steve Goulart: I think as long as rates are moving, we will probably see similar action and similar results, yeah. Tom Gallagher: Okay. Got you. And then, just, I guess for Kishore, just a follow-up on Japan, the sales there seemed pretty good and your competitors that are in Japan were quite weak with the state of emergency orders in Japan. Just curious how you were able to drive sales growth, is there something unique about product launches or your distribution that that allowed you to still grow sales across -- it looks like across all products in Japan. Kishore Ponnavolu: I love the premise of your question, Erik, and I will certainly pass on that complement to our associates in Japan. I think it’s a great question. I love the way you worded it. Certainly, that said, our sales increased 18% in Japan. That’s a very strong performance. There are three reasons why I would attribute that. We -- our ex”