akila: i think it is a great question.ur expectation for 2025 is there is going to be a meaningful dispersion across the credit markets and that will mean winners and losers. there likely will be more stress in distress. we will probably see more distressed activity. for us, we spend a lot of our time on the top of the capital structure. both in investment grade and non-investment-grade risk. we are focused on continuing that trend. when you think about our asset-backed business, it is a tale of two cities in terms of consumers that are homeowners versus consumers that are not. we are making a lot of effort to focus on those higher polity backing, and terms of the type of asset-opportunities we are focusing on. sonali: when you think about that push-pull between private markets and public markets, what do you think will be the most compromised in public markets? i cannot kill -- i cannot tell sometimes which part we should be talking about. whether you think about public or private. will we see more deal flow heading in on