 FIG securities joins us now for a bit of a bond market check and Simon it is all about payrolls now tonight I guess the impact it might have on the Aussie dollar now that we're sitting at 73.9 US cents what are you seeing in the bond markets? Look it's interesting as you say their yields are down and in Australia here they've really collapsed on the back of the interest rate cut earlier this week and also the statement of monetary policy out by the RBA they've adjusted inflation forecasts down so our tenure has now hit an all-time historic low and now two years gone way below the previous historic low about half percent below its peak this year so big collapse in Aussie yields US not so bad they're down around about 10 basis points since the beginning of the week up a little bit overnight I think cautious as you say leading into that data I think still a bit of a weak trend there so it'll be interesting to see if that does come out quite strongly. Could it move the Aussie significantly from here do you think? Look I think the only thing that's going to move the Aussie at this stage is if it looks like the the US resets back on that path of increasing rates I think while they're on a whole path while they're on the delay they're really not giving any help to the RBA or to our dollar at the moment. So looking at that statement of monetary policy today which obviously is what sent the Aussie on its next sort of downward trajectory at 73.8 do you think pricing because pricing's gone crazy now for a rate cut this year? Look has absolutely I mean as I said that two-year rate if you have a look at it was 2.05 maximum a drop down to 1.75 as the market expected a further cut it was actually up about 1.86 when the RBA cut earlier this week now down at 1.55 I mean that's a lot of volatility in that short two-year rate and it just reflects that changing view that the market has around what the RBA is likely to do I think they're a little uncertain at the moment so I think more data needs to come out to get a clear picture. I hope to see a pick up in that inflation read. Simon Michelle appreciate your time as always thank you. Thank you very good. Simon Michelle there from