 Welcome to the program Simon. Just as I look, 10-year US Treasury yields at 1.567% so lower than the US close on Tuesday. It certainly seems as if there's some changing expectations out there. Certainly, Nadine. Good afternoon. We're seeing, as you've mentioned there, that messaging from the US Fed starting to position markets for a possibility we could see a hike this year. Remember, we had the first hike in December last year. We've had no move since then, even though the Fed did indicate at that time there would be four further increases this year. We've come out of a period where the market was discounting any chance of a rate increase this year. So, you know, the futures market now just slightly above 50%. And I think you've got, obviously, positive jobs coming through, a positive trend on some of those data points, but then you've also got the lower growth, lower inflation. So, hence, as you mentioned, all eyes on the July minutes. So, July minutes. What will need to be contained in the July minutes to really, I guess, firm up expectations that we will, in fact, see a hike this year? Will it be commentary surrounding inflation? Will it be commentary surrounding, I guess, the global picture? Because the Fed has been quite willing to use some of those global, you know, risks out there as a reason not to hike. I think you've got that right there, Nadine. I think it's the global factors. And, you know, I think their inability to hike has generally been because of those global factors continued market support by other central banks. And I think the positive out of that is that they didn't see the sort of volatility post that Brexit vote that market expected seems to have recovered quite well. And so, that's not such a major influencer. So, I think you're right. I think they'll, you know, a bit of an update on those global factors and how they see them moving forward. Interesting to know. We've got St. Louis Fed President James Bullard speaking as well in St. Louis. And he is obviously one of those that have refrained from, actually, he's the one that refrained from putting his dot plots on the last, I guess, making them publicly available saying that he wasn't going to play that game anymore. So, that will be interesting. We've also got MBA mortgage applications in the U.S. Now, our own central banker was out last night speaking with the Australian in the Wall Street Journal saying that he doesn't see why the U.S. Fed couldn't hike this year considering everything that's out there, all the knowns. I guess there would be nothing more that RBA Governor Glenn Stevens would like then to see a Fed hike coming through. You're absolutely right. It would take a lot of pressure off of him. And, you know, as we see the Aussie dollar climb back up by hitting that 77, currently I think in the about 7680. So, you know, if the U.S. does increase their rates, it does take some pressure off the need for the Aussie, the RBA to lower rates. And so, and I think Glenn Stevens would be very, very happy with that. That's what we've been waiting for all along. And that delay in the U.S. increasing rates has really led to those two rate cuts we've seen this year in Australia. So, talk to us about any issuances that are capturing your attention that are driving the markets. Yeah. So, today we've had BMW come out. They're looking to do your Euro bond, Aussie dollar bond. BMW Finance Australia issued an Aussie dollar bond back at the beginning of last year. So, you know, we're seeing a lot of offshore corporates come in and accessing the Aussie bond market. That's great for Aussie investors on the back of significant issuance by the major banks. Interestingly, I had a bit of a look at the BHP bonds. Trading obviously posed that announcement in the last 24 hours. Very little movement in those. Still very highly bid. Investors happy to support BHP from the debt side. Yeah, OK. And is there anything sort of big on the horizon that we should be watching out for? Look, I think all eyes really on the Fed at the moment. I think that's going to be the key driver. You know, I think we had from one of the major banks here an expectation that the Aussie cash rate will be down at 1% next year. You know, what the U.S. does will be very much a determinant of whether we get to that low on the cash rate. Most markets suggesting there would be another quarter percent cut here by the end of the year. So, all eyes on the U.S. I think at the moment, nadings. OK. Well, for everything that changes, everything stays the same, doesn't it? Thank you for joining us. Always appreciate your time. Thank you very much. I'm Michelle there joining us from Fig Securities. Well, we're taking a short break. When we return, business class will take you around the world in half an hour. Back in just a moment. There's a first time for everything. She likes shapes, colors.