 Let's bring in Simon Michele over at Fixed Securities in Sydney. Grace, it seems if you believe the survey, that's going to be good news for broader Europe and that was, I imagine, born out in the equity movements. We saw European markets higher as people start to discount the likelihood of some sort of a Brexit. Did we see a similar reaction in bonds, Simon? Yeah, good morning James. Look, we have seen a little bit of a recovery in some of those bond yields. They did get quite high, around about 13%. They're now down around about the 12.5%. Give a bit of context, six months ago they were 5.7%. So, obviously very volatile over there. But I think that poll that you mentioned there certainly places the pressure back on the Greece leadership to continue the negotiations and perhaps move away from this sort of hardline stance they've been taking. I've also noted that a lot of commentaries around that, you know, if Greece was to exit, that would be manageable. So, you know, it's a bit of a, still a bit of negotiation happening over there at the moment. Simon, just taking a look at the US, we did see some pretty disappointing and soft data coming through on Friday. Now pushing those expectations potentially further down the track in terms of those rate rises. So, what do you make of some of the economic data that we've been seeing coming out? Yeah, it's interesting, isn't it? Because I think we've definitely seen that US dollar move higher on the back of this quantitative easing that's coming out of Europe. That's starting to be a bit of a challenge in the US economy. We're starting to see a little bit of a slow down in growth over there and that's certainly taking a bit of pressure off an early move by the Fed. And actually seeing some commentators suggesting that the Fed may have to wait until 2016 if that quantitative easing continues to have an impact on the US dollar over there. You know, I think that we have the FOMC meeting this week and we'll be looking for any commentary around that. But look, it seems to be that we're pretty much still on this expectation of a September quarter move. But the data is still is certainly suggesting that that could be later rather than sooner. So, I mean, despite, despite Che Yellen being a noted dove, do you get the sense that she would like to have a higher cash rate, a high interest rate in the US and what they currently do? It's really difficult over there at the moment. I think she would certainly like to send a message to the economy and meet that expectation that things have improved and we do need to move away from this zero rate setting. You know, we do need to start building in some higher rate expectations. We're certainly seeing inflation start to pick up and we're seeing investors lock in inflation protection. So there's certainly the view that things are improving. We likely see those rates move up. But, you know, this mass global stimulation through the European and Japanese QE, the move by China last week to lower their deposit rate, you know, that's through 200 billion US dollars back into the global economy as well. So, you know, it's really tough because, you know, you're seeing that US dollar drift up. If rates move up, that's only going to put further pressure on the US dollar and that starts to really impact on their manufacturing and export industries, which is what we're starting to see happen now. So, I mean, with that sort of weaker disappointing data coming through, coupled with a bit of a rally that we are starting to see in those commodity prices, there are some suggestions that potentially we might be starting to see a correction lower in that US dollar. What's your thoughts around that? Yeah, definitely. I think those recovering the commodities is a positive thing. You know, we're certainly seeing that play out domestically here as well, where we're starting to see people suggest the RBA may not need to cut further because we've seen those improvements over there. Look, it's positive. I think it takes a little bit of pressure off. But I still think the main drivers really is that quantitative easing. And I think that the impact on currency still is being the key driver around where central banks are setting rates at the moment. What does it mean for our central bank, Simon? If we've got the Aussie trading over 78 US cents at the moment, if commodities remain strong, if we see further weaknesses, as Leanne would suggest when we might, in terms of the US dollar, that is not what the Reserve Bank wants to see. We've got a 50-50 pricing for a May move. Look, that's got to blow out a little bit, doesn't it? If the dollar keeps moving higher? Look, I agree with you, absolutely. I think the RBA will need to cut rates if that dollar is stubbornly high and remains so. They've been very vocal about that. They want to see that dollar down. They lowered rates in February with the intention of achieving that. It hasn't had that desired effect. It has remained fairly high. And that's because our rates are still very high in comparison with a lot of developed economies. So if you have a look at Europe, where they're all in negative territory, I'd rather have my money in Australia as well. So it's a real problem that central banks have, protecting their currencies, protecting it from a blowout in their currencies and having to use interest rates. Because let's face it, the monetary policy is not really having a huge impact on people spending these days. Movements by the RBA aren't really changing behaviors, but what they are doing is trying to just keep pressure off of the Aussie dollar for the RBA. Simon, if we do see potentially expectations of a rate cut in May being lowered, what impact will that have on Australian yields? I mean, they do seem to be holding pretty well above that 2.5% level. Yeah, it's interesting. The 10-year Aussie has been above 2.5% for the latter part of last week when we got that sort of stronger data out and people started moving back from that expectation of a rate cut next week. You know, I think the yield curve is still fairly flat. There's not a lot of value out there. I think it's still largely being driven by spread over the US and its spread over the US has been maintained around that half of a cent. So, you know, it's really reacting very similarly to what we're seeing globally, which is obviously remaining very, very low. You know, the 10-year at 2.5%, just slightly above the cash rate, not a lot of value over there in the yield curve, I should say. And a lot of that influences the fact that, you know, when we start to see that yield curve drift up, we do get investors coming in and taking advantage of that yield. Over 60% of Australian bonds held by offshore investors at the moment. As always, great to get your thoughts, Salman. Appreciate it. Good morning, James Snillian. Thank you.