 joining us Simon. One welcome to the program. Bond Yield's really globally falling and we've just seen Japan's Bond Yield falling below zero for the first time. Pretty significant I guess it's this lift-in risk aversion that's driving this demand for bonds at the moment. Yeah good afternoon Leanne. Absolutely I mean investors are just trying to get away from the volatility we're seeing in currency and equity markets and seek a bit of relief from that and look you know we're seeing records hit around the globe. We've got the US 10-year record lower of 1.36% today. Japan's 20-year government bond rate as you said hitting zero slightly below and Australia's 10-year rate at 1.85 record now. Now let's think about that the Australian cash rate is 1.75% and the 10-year rate is 1.85% 10 basis points in at over 10 years. That's a very flat curve. Yeah absolutely is there further to go I mean you know where to from here. I think down down here from here I think Leanne I think we're seeing that reflected in even though there is a flight for safety we're seeing a tightening and credit spreads that means investors are happy to invest right across the credit spectrum it's not just your government bonds it's right across the bond universe. I think the market is now building in if you look at our two-year rate here in Australia it's about half percent sorry about 1.54 percent that's suggesting further rate cuts from the RBA and I'm going to go out on a limb and say I think any any chance for the US Fed to increase rates in 2016 is now completely off the table. Yeah okay so so this move that we're seeing in these yields globally does this tend to be a bit of a leading indicator of what lies ahead sort of economically? Well it does I mean the 10-year really looks at the impact of inflation growth over the long term and we've certainly seen as as you would be aware inflation dropping off a bit of a cliff there very very on the on the low side and continued growth down downgrades as well right across the globe so the impact of that Brexit vote a lot of commentary that that's still being felt we're still working ourselves through that that's impacting on those global growth forecasts they're being downgraded and you're seeing that reflected in the long term interest rate yields. Simon what about if we get a strong jobs number there on Friday do you still think that you know this move from the Fed could be off the cards? Look I think it's really out of the out of the hands at the moment I think that you know it's the global factors really driving this and you know when you've got global yields continuing to fall and you know central banks continuing to support markets and you know expecting that the UK central bank will have to come out and support their markets as well rates are going to continue to fall and I think it's very difficult for the US to look to increase rates in that environment or I'll put it out there maybe even hold rates at the current levels in this environment certainly some people suggesting they might actually have to pull back if this volatility continues. All right very interesting Simon we'll leave it there thanks so much for joining us. Thank you Leigh Ann. Simon Michele there from FIG Securities will my guest host Henry J-