 percent. Well joining us for more on that is Casper Wolski from FIG Securities. Good morning Casper, thanks so much for joining us. Certainly taking a look at that inflation figure expecting a rise of around 1.7 percent. Of course we also have Glenn Stevens speaking today. Take us through what your expectations are for that number. Yeah well I think as you just mentioned the 1.7 percent headline figure is what is expected. The RBA looks at the trim domain figure which is expected to come through at about 2.1 percent year on year which is certainly toward the lower band of the RBA target band which obviously leaves the door open to some future rate cuts. So if we do happen to see a rogue figure particularly on the downside it will be interesting to hear what Glenn Stevens has to say about that. I think there's going to be probably a Q&A session following his speech and there'll be some talk about that CPI figure. Also about yesterday's minutes that were released but importantly I think with APRA coming out earlier in the week talking about the additional capital required by the major banks to be held against home loans. I think Glenn Stevens is going to have a bit to say about that. He's been talking for months now about how macro prudential measures are going to be imposed to manage those property market risks in this in this low interest rate environment you know and given the the major banks may seek to recoup some of those additional capital costs through higher lending rates I think that may further open the door for some additional rate cuts later this year. So Casper you mentioned the APRA announcing those higher risk weightings on the major banks mortgages how does how does that impact their bonds? So the banks will be looking to raise additional equity or retain additional equity you know by the time these measures are imposed in July next year. What that's going to do is basically give the bank a bit of a buffer against any uptick in the default of loans but that buffer is also going to serve bondholders so there's going to be a bit more equity sitting under bondholders you know to to absorb any losses you know in should there be any uptick in in defaults the credit ratings agency S&P came out earlier this week expecting a one-knot credit rating upgrade for any subordinated and hybrid securities you know throughout the implementation of those measures. Casper certainly I suppose looking at bond markets overall a lot of the volatility in Chinese markets has calmed down a lot of the uncertainty in Greece also coming down somewhat how has this all affected bond markets? Yeah so we've seen volatility probably pick up in the commodity sector and we've seen some conservative money outflow from there that's looking for a home and coincidentally you know things have calmed down in Greece and volatility has you know in the investment grade space has calmed down and we've seen volatility return to the market. What we like to look at is the ITREX index which is effectively a measure of investment grade debt returns over the risk-free rate and that's now returned to a level of about 91 basis points which is about the six-month average. We saw that about 15 basis points higher over the last few weeks you know at the height of this Greek financial situation so you know we're seeing you know we're seeing money flow back into back into quality so we've seen this theme of you know a flight to quality start to emerge. Fantastic Casper on that note we'll leave it there thank you so much for joining us. Good morning thank you