 Let's take a look at interest rates. By moving your cash into bonds, you can take advantage of market opportunity and increase your returns with very little additional risk. That provides certainty through its coupon payments and locks in that income. In an environment where equities have been fairly much flat and there's been a lot of volatility and dividend uncertainty, that provides a lot of comfort to retiree investors. The key driver for interest rates remains global quantitative easing. While the US has ceased its package, we now know that the Bank of Japan and ECB continues to increase the level of support to global markets. So you have a vast amount of money looking for a home every month on the back of that buying program. So what are central bankers doing? Central bankers are trying to keep their interest rates low on a comparative basis to offset demand for their currency and therefore for interest rates. What this chart shows is the government rate across 20 developed economies. And it really indicates the challenge that Glenn Stevens, the Governor of the Reserve Bank of Australia has with Australia's interest rates standing very proudly on its own there on the right-hand side, up there close to 2%. You can see there that in areas where they're under quantitative easing programs such as Europe on the left-hand side of the chart that most interest rates there are in negative territory. The US has now begun to increase rates. 2016 has seen increased volatility and it has actually seen interest rates move in the opposite direction, moving lower while the US is continuing to prepare the investment community for higher rates. The challenge is how the US is going to continue to increase rates in an environment where the rest of the globe is moving to keep rates low. This is a challenge for the Reserve Bank of Australia and currently there is a view that you may see a further cut by the Reserve Bank of Australia to the official cash rate from 2%. The central banks held that rate very firm over recent months while we've seen continued movement lower in other global interest rates. So, time will tell.