 Push higher on yields so the prices have weakened off Jessica Russett from Figures Live for you this afternoon. No major economic data of note, Jessica, so really it's all down to the Fed and lending something of a kind of a, an either bearish or I suppose bullish due to proceedings or perhaps it's more likely to be typecast, dovish or hawkish. What's your sixth sense on the run of data we've seen leading up to this meeting? Good afternoon, Cass and thanks for having me. That's right, all eyes will be on that FOMC meeting which will come through Thursday and at the moment there's 97% chance that there will be a Fed hike there and so it's pretty much priced into the market and it will, it'll be a conversation really about where we go from here if there are any future rate hikes and also talk about the balance sheet normalisation as well and so I think from there it will be either one camp of its hawkish tone or it's quite dovish at the moment the market is pricing in a 43% chance of one more hike after this and there's only 11% chance for two more from then on so I think all eyes will be to see which camp it falls into. Now there are 56 billion dollars of dead auctions on the docket this week how vulnerable is kind of the big cover on that given you know the tone struck by the Fed? Yeah it's actually quite, it's quite a large auction actually for this week and that coincides with this Fed meeting as well. There was an auction of 20 bill overnight that was met with soft demand for the 10 year notes. The three year was met being shorter dated as well there's more demand in that shorter end of the curve and that was met with more demand and I think some of that came away and there was less demand therefore for the longer dated 10 year so I think actually this week there will be soft demand for those until they know the outcome of this meeting. Yeah now in terms of signal or noise just to continue that theme a little bit a little further tonight the AG the Attorney General is giving some testimony another Senate committee is the venue here what kind of a viewer market's forming on this on this on the tone struck here given it's probably going to be you know you know a 2018 story on tax cuts and infrastructure if we get them which could be what he's grilled on right? Yeah that that's absolutely right and more than anything I don't I think these this committee meeting that Attorney General sessions will be attending I don't think so much as the outcome of that really matters so much it's more the fact for the markets that it's this distraction from Trump getting his tax cuts and spend spending policy through last week was infrastructure weak and actually made the news for its lack of attention at all Trump to and around talking at events on his plans for the infrastructure spend but it really didn't get any noise whatsoever because it was all on this some political drama that's been folding out over there at the moment. In terms of the dramas domestically that investors are digesting as they wade into the the fixed income space and you are seeing both the five-year and the 10-year pushing up but still looking pretty accommodative at these levels so in terms of imposts for corporates put it in real terms put into context yeah that's right so we have had actually the Aussie government yields actually holding pretty steady that they're up about two basis points this morning the five and ten-year yields they've come off a little bit now we've got the five year at 1.97% and that 10 years about 2.41% that five year has actually broken through that two percent range and it has been there trading under there for the past week and we have had that ten year just pop up through the 2.4% range but they have been they've just come off the the lows of the year but they have been the trend has been for them to be trading lower so although we're seeing them at these levels at the moment I think when the Fed as an anticipated hikes come Thursday I think we will see those yields move lower okay Jessica thank you for that lots to watch for this week thanks Jessica from FIG to the