“So our money market guidance we gave you was about plus $200 million and we stand by plus $200 million, but I’d say, for the full year.”

In context

“t gave you in dollars this time around. It’s the same that I gave in January. And then that is what’s -- the point around the -- I don’t know if it was illusion, I actually gave you that it was double. So I said at least double in terms of the NII guidance increase. That really has to do with the realization of the forward curve and the change in the forward curve. Operator: Thank you. Our next question is from Ebrahim Poonawala with Bank of America. Ebrahim Poonawala: Hey. Good morning. Just a quick couple of follow ups. One, Sharon, if you could remind us in terms of the NII guide, how big is the money market waivers kind of coming back now that we have had the first fed hike and is there any additional improvement that we should expect if the fed hikes by 50 bps in May? Sharon Yeshaya: So our money market guidance we gave you was about plus $200 million and we stand by plus $200 million, but I’d say, for the full year. It’s really based on two factors that are contributing into that. One is the balances, as well as the industry and the waivers, how quickly those waivers roll off. So we are -- $200 million for the remainder of the year for the increase for Investment Management. Ebrahim Poonawala: Understood. And just as a follow-up, when you think about, it’s a tougher question around the macro outlook when we think about M&A, IPOs coming back. Any sense in terms of when you look at the world feels like volatility is going to be high, which bodes well for trading. But how do you handicap just talking to sort of your corporate clients around appetite for deal making and given just the current geopolitical backdrop, any color would be helpful? Sharon Yeshaya: Yeah. So a couple of things, first on the advi”