 that fig security Simon Michelle who joined us for a look at the bond markets because Simon has been pretty interesting for bond markets over the past week with all these comments coming from the Fed. Stanley Fisher speaking yet again overnight. That's right and good afternoon and he's basically pulled back a little bit on his rather bullish comments that led the market to react a little over excitedly on the back of and he said what we all know and that is that the path in interest rates in the US is down to the strength of the US economy. Surprise, surprise. So look I think you know that excitement we had at the beginning of the week on the back of Janet Yellen's speech has sort of pulled back and we've seen you'll pull back as well. It does seem like they are trying to get a message across though. I mean maybe a little slap on the wrist for going a little too far originally but but certainly they are trying to get a message across of higher rates right. That's right they're certainly preparing the market for that and you know they want the market to be aware that they could go. Obviously they've had September mentioned there that's not looking very likely I think more likely is a December but unfortunately the data when it comes out just is not matching that commentary really and you know inflation very soft growth very soft that's offset by employment the job market looking good and consumer demand of the US looking pretty good too. So yeah we're walking a bit of a double-edged sword at the moment. A couple of issuances to look at. Coca-Cola taking advantage of some low rates in Europe. Absolutely we keep talking about negative yields in Europe well it's a wonderful place to issue at the moment and Coca-Cola got a 20-year issue away at a rate of 1.12 percent. So very cheap funding for a long period of time we've seen PepsiCo issue there as well and domestically I'll just mention as well we had a ASX listed Aussie company here Cube looking to issue as well a seven-year looks like that's been well over subscribed so some some good options here for domestic investors as well. Interesting all right Simon Michele appreciate that thank you. Thanks Ingrid. Simon Michele there from FIG securities with the latest on the pricing ahead of that meeting. Simon Michele from FIG securities joining us live. Simon good afternoon to you. How are bond markets treating tomorrow's RBA meeting with I guess payrolls in mind as well. That's right good afternoon in grid will those softer payroll numbers we got out of the US last week failed to provide a clear path for US rates and so we're back where we started with pretty much a 50 50 even split over a September hike. The RBA here in Australia fairly quiet in the lead up I think you know we like to see them sit on the sideline and hope that they will see a US September rate hike that would certainly take some pressure off the Aussie dollar. Tell you what a cut would get the Aussie dollar going wouldn't it tomorrow given it's not priced in at all. That's exactly right absolutely I think look you know I think they're able to sit on the sidelines I mean we haven't seen a lot of movement really in rates. The dollar's moving up obviously as you just mentioned about 75 91 at the moment you know they really want to see the US move I think it's more likely looking at a December move at this stage the futures market's about 30% for September tightening. I know domestic bond issuance has been quite interesting over the past couple of months Transurban's looking at a potential US dollar issue what are the details there. Yeah so they were over the US seeing a bit of a ROTO looking at a potential US dollar issue which would be great for them they're an investment grade issuer and then you've got a Victorian energy energy distribution network United Energy Distribution looking at doing a seven-year issue at the moment apart from that pretty quiet. I mean is it particularly quiet in that domestic issuance market at the moment how yields affecting I guess the appetite for that. Look very very strong appetite at the moment you know both here and offshore we've seen a lot of Aussie issuance over in Europe one of the regional banks at the moment is over in Europe doing a bit of a ROTO likely to do a euro issue taking a advantage of those very low rates over there. Now for an investor they'd rather invest in the US or Australia where you actually get positive yields and you get you know fairly significant corporate yields around that sort of you know four four and a half percent here in Australia. So you know that's why we're seeing you know strong demand for the Aussie and the Aussie dollar great time to issue for corporates we're seeing a lot of refinancing happening at these low levels but for an investor you know they're keen to lock in these yields at the moment because that view is they're not likely to move up any time soon. Simon Tony Davidson from Henderson Maxwell here I'm just interested we might hear from the BOE and also the ECB a little bit more about the corporate bond buying program in the next week or so do you expect or are you guys looking for much adjustment in their program and a bit more visibility as to what they're looking to target. Well yeah absolutely I mean we've seen the ECB increase their bond buying program and move into corporate bonds as well and that's had a really big impact on those negative yields so you know will there be an adjustment to that will they look at expanding that purchase program. I think over the Bank of England you know obviously on the back of Brexit and you know they want to see a little bit more clarification of that some of the support measures that we're likely to see from the Bank of England you know because we haven't really you know it's taken them a bit of time to get to this point of providing that clarity we did think we'd see some action a little earlier about a month ago that didn't come through so there has been a bit of a sort of wait on the sidelines to see how the new government in England will you know provide that support to their markets as well. All right Simon we'll leave it there with you appreciate your time thank you. Have a good day thank you. Simon Michelle there from Fixed Securities and that does it wrap-