 space closely is Mark Bailey from Fig Securities. He joins us live now via Sydney. Mark, good morning to you. Certainly when it comes to Greece, we're seeing a positive spin being placed on these talks and on this reported deal, but will it be a positive result more importantly? Yeah, good morning, Nathal. I think that's exactly right. You know, there's a lot of hope again. You know, hopeful words as the reporter announced and Sipras talked about. And again, you know, I think there's two major points of difference, I think in terms of the outcome of growth forecasts. I think the EU and Greece itself is probably a lot more optimistic than the IMF in terms of where 2017 growth will come out. And also, they're still disagreeing about how to negotiate the debt relief. Germany and the EU is quite keen just to continue to push that debt further into the future. Whereas the IMF has said that it still needs to see some debt relief, some debt reduction and debt to haircuts on the Greek debt at the moment because the levels are unsustainable. They do agree, however, in terms of the level of primary surplus that is required by 2018 of 3.5%, which is pretty aggressive. But I still think that, you know, there's a long way to go in this and it's quite interesting that they're putting this positive spin on things. In fact, the European Union member states have only agreed to bail out as a precondition that the IMF is involved. And that is not guaranteed. So I'm surprised about the positive spin. You did see the reaction in the bond markets last week where the two-year yield on the Greek bonds did drop significantly below that 10% level, which it has been hovering for a while, indicating that, you know, everybody again thinks the Greek problem has been solved. But again, you know, as the report says, you know, there is that big bond redemption, 7 billion euros in July, you know, the next next meeting and the package is hopefully going to be agreed by March. So it doesn't leave a lot of time in the meantime to get everything lined up. And I still think there was a lot more to play out in Greece and everybody's just quite keen to again, push everything under the carpet and move on. You know, as the report also says, there's a lot of European elections. You've got the Dutch ones coming up. You've got Germany, France, you know, the political situation in Italy, as always, is fairly volatile. So there's a lot of other issues as well within Europe. And I still think that Europe, more broadly, is a big risk for the global financial markets. Certainly interesting to note. We did see, as you flag Greek two-year yields dropping to their lowest level in a month, this coming after German Chancellor Angela Merkel signalled she is ready to support debt relief for the nation. But if we turn our attention also to sentiment coming through from the U.S. And again, we've seen similar activity here. Bond markets certainly suggesting that U.S. equities have rallied too far and too fast. And we're certainly seeing uncertainty in this space when it comes to the outlook for both U.S. President Donald Trump and also the FOMC. Yeah, there's a huge range of kind of topics in there, Natalie. I mean, I guess if you look at the equity market, I heard this morning that the U.S. equity market has had the most consecutive days in positive territory since 1987. And we all remember what happened in 1987. So I agree that, you know, equities at the moment are certainly looking a bit toppy. You know, price earning ratios are looking expensive. There's a lot of uncertainty, geopolitical uncertainty out there. And that's not coming through in terms of either the volatility or in the share price. You're seeing a lot of hope. Again, you know, Trump is due to deliver his State of Union address on Tuesday nights. There's hope that we'll get some better indications in terms of some corporate tax plans in terms of maybe some personal tax plans and also the fiscal spending. But again, I've got a feeling that he's going to be very scant on the details as he has been so far. And that has a potential to disappoint the markets because I think that you're going to start to need to see some more detail coming through. And you are seeing a few leaks here and there. But again, it's not definitive plans about how that's going to progress. I mean, there's talk that you might see a draft in mid-March that potentially goes up to Capitol Hill so that the senators can have a look at that draft then. But at the moment, we're still very thin on the ground in terms of details in terms of any kind of board attacks and how that's going to play out. So, you know, I think at some stage, Trump is going to have to deliver on the detail of his plans. And if that doesn't happen, I think you're going to see the markets kind of be disappointed and, you know, may be due a bit of a pullback given the exuberance that we're seeing already priced in terms of the share price at the moment. And absolutely, this is what we are watching and waiting for. Trump's State of the Union address to take place on Tuesday night. It will be our lunchtime here in Australia. So, certainly will be a live item when we do get that. What happens, Mark, if we don't get hints of what this policy is likely to be? I think you're going to see the markets being disappointed. I think you'll see equities pull back a bit. You know, hopefully it'll give a bit of a hint in terms of where he sees the key issues and the key policy. And also, maybe some of the timing coming out as well. But at the moment, you know, he's kind of flattering to see, as I say, the detail on some of his more broader plans have been very scant. And I think, you know, that will be reflected again in terms of the level of detail that we do get in the State of the Union address. But again, you know, if that happens, I think you'll probably see a bit of a pullback in equities. You may see a bit of a continued rally in the bond market. And let's not forget, you know, the US 10-year yield is kind of back at its low part of that trading range around about 231. It was down six basis points on Friday. And, you know, that was largely due to the kind of negative trade that we saw most of the day on Friday in terms of equities with just a late rally kind of kicking up a couple of the indices into positive territory. So I think that kind of gives you a bit of an indication that the markets and investor sentiment is very, very cautious going into this week and, you know, Trump and what he can potentially say. And I think if he doesn't deliver, there's a chance that he'll, he'll disappoint investors. Certainly plenty to watch in the sessions ahead. Mark Bailey, a pleasure as always to have you with us. Thank you. Thanks, Natalie. Have a good day. Well, just to take you as through some breaking news, we do