 from Melbourne. Let's turn our attention to the bond market. Fixed income, Simon, Michelle from Fixed Securities joins us now. Low yields continue. Any sign of any reversal anywhere in the world around that, Simon? Afternoon, James. Look, I'm not into that any time soon. That's for sure. And just to bear in mind, I mean, we're in a negative yield environment at the moment pretty much globally. The US has very high interest rates when you compare globally. One of the countries that has higher than the US is Australia. And we have a triple low rating. Exactly. And look, in terms of that's obviously one of the reasons why we're seeing this, I suppose, relative strength in the Aussie dollar. A lot of central banks, including our own, waiting on the Fed to do something about their own Fed funds rates. When is that going to happen? Because it keeps being being pushed further and further out. Well, we started the week absolutely with an expectation it was going to be on the table. We saw some very positive commentary from some of the Fed presidents. But the minutes that we saw released yesterday just didn't match that commentary and, you know, it indicated a more of a split Fed and a willingness to wait and hold off and see how inflation and growth performs going forward. The futures market now says less than 50% chance of a further Fed rate increase this year. Wow. And look, do you think the data supports that, that pricing? Look, it does, I think, yeah. I think globally you're seeing downgrades to inflation and growth forecast. You're seeing that reflected in further downward movements in official cash rates, such as here, for example, in May and August, and continued quantitative easing and bond buying right throughout Japan and all throughout Europe as well. So look, I don't think, you know, we're likely to see that movement up. And as you mentioned, the top, you know, the US rates where they are, every time those do move up, you just see a lot of money hitting and taking advantage of those yields. So for those people who are in the fixed income space looking to build their exposure there, where are the flows going in terms of getting return in that space? Look, it's interesting. I think people are certainly looking for fixed rate return. So there's some certainty there. But interestingly, we're seeing continued demand for inflation link bonds both here and also what we call tips which are Treasury inflation protected securities in the US. Great demand for that. So investors are starting to prepare knowing that inflation is a major focus of the central banks. Great stuff, Simon. Appreciate it. Thank you. Have a good weekend. Simon and Michelle there from Fixed Securities. We are going to take a break when we come back.