 We're joining us for more on how that data played out across the fixed income space. We're joined by Kasper Walski from Fixed Securities. Kasper, warm welcome to you. We mentioned there we saw that US GDP data out overnight. What sort of reaction did we see across bond markets? Good morning, Leanne. Yeah, we saw those, as you said, those GDP figures come out at 2.1% for the third quarter up from the previous estimates of 1.5%. It seems like a big jump, very much in line with expectations, however. But the thing we look at is the composition of that and it was made up largely by an increase in inventories by businesses, so a little bit of concern there. But I think looking forward, it's not really going to have a big impact on what the Fed does and those expectations of them hiking next month are pretty firm. I think they're finally over about 70%. When you look at market implied probabilities, so that short end of the yield curve is sort of locked in around there and yields are relatively unchanged given those GDP figures. Kasper, certainly seeing a lot of new bond issuance on the market lately, aren't we? What's behind this? Is it based around that certainty in the Fed and I guess that playing into it? I think so, definitely. I don't think it's just the Fed. I think it's really all the major central banks around the world. We've got the BOG, ECB, I can rattle off all the acronyms, but I think they've been really clear in their messaging to the market recently, a bit of a shift away what we saw a few months ago and in terms of what each of those respective central banks will be doing at their next policy meetings, I think is pretty clear. The market has a lot of certainty around that, so from that sense things are relatively calm and those concerns around Greece and China that we saw a few months ago have sort of abated for the most part and volatility has died down. So we're seeing a lot of these issuers return to market if they put plans off earlier in the year and more issuers are coming to market. For example, next D.C. just placed $100 million in an unrated bond after having put off plans a little bit earlier in the year to do so. What makes it look good for issuers? Kasper, you talk there about the credit ratings of some of those issuers. What relevance does that have? I mean we saw Qantas upgraded last week, did that have a large impact? Yes, so next D.C. was unrated paper, but obviously there are issuers coming out who are rated. Qantas is a very good example. Last week S&P, they previously had them as a non-investment grade issuer and they upgraded them to investment grade. So the impact there was their bonds rallied on the back of it, about 25 basis points in yield terms. And investors who held those bonds with the view of the credit rating upgrade, they were handsomely rewarded but at the same time that bond is now in the investment grade space and a lot of investors who only look at that sector of the market, they now have a new corporate credit that they can look at and there's been a lot of buying interest coming in on the back of that. Fantastic. Kasper, we're going to leave it there but really appreciate your time. Thanks so much for joining us. Thanks Lea. That's Kasper Walski joining us there from...