“And I think if you go back to what we said at the outlook call, which was, we thought, all in, 2024 would show an all-in spread similar to 2023. And that's generally where we're trending towards.”

In context

“lt of lower recurring interest margins due to the roll off of the interest rate caps. And we did anticipate it to be 8 to 10. It came in less, and it's primarily due higher-than-expected interest rates which we took advantage of during the course of the quarter. And so it was a little better than we thought. Having said that, I think our guidance that we gave last quarter is we continued to believe another 8 to 10 would occur during the course of the Q3 on ex-VII as most of the of the remaining interest rate caps mature over the course next few months. And then we should see spreads stabilize in most of the in-the-money interest rate caps purchased primarily during kind of pre- and even in the COVID era matures by then. So that's kind of how I would kind of play out the rest of this year. And I think if you go back to what we said at the outlook call, which was, we thought, all in, 2024 would show an all-in spread similar to 2023. And that's generally where we're trending towards. Suneet Kamath: Okay. Thanks, John. Operator: Next, we'll move to Ryan Krueger at KBW. Ryan Krueger: Hey, thanks. Good morning. I guess on Japan, could you give some perspective on the sales environment there? I think you had -- it was a tougher year ago comparison, but you had some declines in sales. So just hoping to get a little more color on the different product areas there. Lyndon Oliver: Hey, Ryan, it's Lyndon here. So let me give you some color on sales across Asia, including what we're seeing in Japan. So sales for the quarter grew 5%, including our divested operations in Malaysia. We also saw a 5% growth in assets under management. While Japan single premium FX sales were impacted by the yen weakness, we did see an offset when we look at across the rest of Asia. Japan sales were”