 It's a trading Simon Michelle from Fixed Securities is joining us live Simon thanks for joining us now yields look to be Sort of ticking up slightly everyone watching and waiting for Janet Ellen's testimony this week That's absolutely right, and we've got that Tuesday Wednesday US time And most people expecting to her to be a little bit more hawkish Maybe preparing the market for possibly up to three interest rate increases in the US Markets still not really convinced of a March increase looking more to June So as you say fairly quiet Greats about 20 basis points below the peak in December Really steady as we await that testimony and Aussie yields. I mean they look to also be relatively steady It's a pretty big week of data this week in particular those employment figures on Thursday That's exactly right And I think the market will be looking to that employment number expected to remain around 5.8 and see some positive Jobs added to the economy. I think also obviously very much driven by what we likely to hear Out of the US as well so I think as you see in rate movements both the markets pretty much only up a basis point and Both markets around 20 basis points below what we saw back in December So I'm a Tony from Henderson's here I think we're due to see the Fed minutes from the last rates decision later on this week Do you think it's possible there might be some volatility associated with that or perhaps a push in expectations that we might see March as a live meeting Look, it is definitely possible and you know, that's I think what people are looking to Janet Yellen from to I mean You know, we are expecting her to be a little bit more bullish on rate increases Is that going to put that March increase on or is it going? You know as the market going to continue just to price in for a June increase I think look we know we know that inflation is getting up towards target You know, we've got a little bit of uncertainty around that the growth in relation to you know the Donald Trump fiscal policy Surge I suppose and I think you know markets are really looking for a bit more certainty around that I think Janet Yellen is going to be really about suggesting that you know It is quite possible that as we get more detail out You are going to see the curve adjust to take account for for that And you're going to see the need for her to push rates higher quicker than what the markets got the price in at the moment Interesting. All right. Well, I'm also watching these credit spreads looks like they narrowing investors moving into risk That's right So you know just as you see the equity market performing well and investors happy to jump into that we're seeing credit spreads No, and now that's basically the risk premium on bonds So what it means is that investors are happy to buy slightly more risky bonds and take advantage of the higher returns They're offering at the moment. All right, fantastic Simon. We'll wrap it up there. Really appreciate you joining us. Thank you Thank you very much