Sees FY26 tax rate 22%-23% with quarterly volatility. Says net investment income will continue to trend higher for remainder of the year. Says macro backdrop is complicated. Says firm is running at a higher run rate. Says continues to invest in global footprint. Says investment banking pipelines remain healthy. Says strategic activity is accelerating. Says reopening of IPO market creates additional opportunities for clients. Comments and guidance taken from Q4 earnings conference call.
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