Greg Davis: Paul, it is fantastic to have you in this article right now to converse to our customers about what’s been occurring in the municipal bond industry. You know, we’ve viewed a fairly sizeable sum of problem all over liquidity ailments in the market. Adore to get your viewpoint on what you guys are viewing as the head of the municipal bond team.
Paul Malloy: Confident. So what we’re viewing is a fairly immediate cost adjustment just as we’ve viewed in numerous other markets. And aspect of that in the municipal industry is because of to the pretty rich concentrations we went into this at. And on the other aspect is buyers needing income for several factors these types of as rebalancing into equity portfolios. And you have bought some other shorter-expression players in the municipal markets that are demanding liquidity. So what that has carried out is