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what are you assuming for incentive comp in '25 in your guidance? Is it flat year on year? Are you assuming some increase?
BSBY hedges, since those started to accrete this quarter, how much was the benefit this quarter? And what is the cadence of that as we look out over '25?
what do you mean by “moderate” capital benefit, Gonzalo? Are you talking about 3%–5%?
any sense of the pace over the next couple of years? The pace has been very slow.
reading some news stories about mandates being shifted from US broker-dealers to local players
How much are you willing to let your double leverage go up? Is there any sort of internal limits
Is that all private credit exposure, and the BDCs are a subset of that?
Can you give us the guide for NII ex-markets for 2025?