“it all reinforces our conviction that we’re very close to the end of this cycle.”

In context

“he math on that page where we show the daily flow, you’re looking at a number that’s about half that level. So I’m not sure where the $9 billion is coming from, and you can maybe work that through with the IR team. The – and so October is tracking in line with that lower number. So again, it just – it reinforces the fact that we saw a decline from April to May and May to June and June to July. And then we had this one blip in August, and then September has really continued the trend. And October is consistent with September. So all this reinforces our conviction that we’ve been saying for quite some time, which is this cash reallocation activity is declining. And we’re seeing, again, in terms of the number of people who are reallocating and the size of those trades that they’re making, so it all reinforces our conviction that we’re very close to the end of this cycle. Operator: Thank you. Our next question is from Alex Blostein with Goldman Sachs. You may go ahead. Alexander Blostein: Thank you. Good morning. Just a quick question around the balance sheet again and some of the liquidity dynamics. Peter, can you just frame to us how much of securities will be maturing through the end of 2024 between available for sale and HTM buckets just to refresh on that? And then I know you made a point about long-term debt. So as you kind of work through your liquidity requirements, any incremental capital changes, how do you think the appropriate level of long-term debt for Schwab will look like by the end of ‘24? Peter Crawford: Yes. So in terms of – when we think about principal and interest off of the investment portfolio, it’s tracking now at about $4 billion”