{
  "report_rows": [
    {
      "kpi": "Net Revenues \u2014 Operating (2Q2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1,360M vs. cons $1,332M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "EPS \u2014 Diluted Operating (2Q2026)",
      "prediction": "BEAT",
      "answer": "pred ~$0.68 vs. cons $0.662",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Long-Term Net Flows (2Q2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~$45.2B vs. cons $44.97B",
      "confidence": "HIGH"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Opex (FY2026)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$3.35-3.40B vs. cons $3.378B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 EPS implied (FY2026)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$2.85-2.90 vs. cons $2.850",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Net Revenue Yield tone (2Q2026 exit)",
      "prediction": "UNCHANGED",
      "answer": "acknowledge compression to ~22.3-22.5 bps; redirect to margin",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 0.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 1.2,
  "day5_path": "STABILIZE",
  "day5_rationale": "STABILIZE \u2014 short covering provides modest follow-through; yield compression narrative caps upside; no estimate revision catalyst without a formal raise",
  "day5_confidence": "MEDIUM"
}