 Simon Michelle from FIG live for you at the camera there. Simon welcome. So yelling in the shade Draghi to the fore Markets seemingly of a might to believe him for once and not believe Janet. Yes, it's interesting Carson. Good afternoon And we certainly saw global yields up on the back of those comments by Draghi He's also mentioned that you know, although inflation is soft and we know that globally that the ECB would be prepared to look through that and Consider cutting back on the bond buying program possibly some point later this year Removing some of that stimulus that we've seen So yields up up about seven basis points in Australia But in the US they didn't really get that movement because you had at the same time the IMF coming out with a downgrade to US growth and obviously a bit of a delay around the US Senate Healthcare agreements, so you know again a bit of nervousness around the implementation of Trump's program Yeah, it's kind of that that program's got such big question marks over it Do you get a sense that we do setting start the side of Christmas? Look, it's interesting at the IMF basically put down Discounting a lot of the Trump tax cuts the infrastructure that we just haven't yet seen The challenges he's having at getting some of his policies through as one of the reasons they downgraded their growth forecasts They actually downgraded it not only for next year but the year after as well down to 2.1 So that's certainly a key driver there, you know every time we see this delay emerge We definitely see a little bit of a pullback and we've definitely seen that in US yields which remain flat While as I said over here in Australia, we're up about seven basis points Yeah, what do we make of what's going on meanwhile across the Atlantic back in London? I never mind Janet Yellen the Bank of England I think it's capital requirements for banks They're worried specifically about the lax lending standards that are coming at a time of still Anemic wage growth and wondering whether, you know, we've learned anything from the GFC Do we see parallels with the Australian banking? Sector to the extent that we are in a holding pattern now over the capital adequacy and we're we're getting these murmurings from Carney You're getting a sense that Baal could be set to be the big I suppose stick That is waves are the way of the sector globally Look a few things there Carson. I think you're absolutely right I mean, don't forget we've actually seen one of the Italian banks go down just recently And another couple struggling as well on the top of that You've obviously got the Trump administration the US looking to remove a lot of those protections that don't Frank that that came in after the GFC So I think connecting it to Australia is is is is a good way to do it because you know We've got the same problem over here excessive borrowing excessive lending off very very historically low interest rates and You know supported by low interest rate settings and and you know quantity of easing and monetary policy initiatives So, you know, it's it's interesting that you see Draghi now sort of saying we might pull that back because when you look at equity markets You know, there's certainly a lot of confidence there We've seen, you know, tremendous support in equity markets over the last six months Yeah, but we haven't really seen that either reflected in yield curves, which remain a historically low They're touch recent lows for this year all reflected in changes to monetary policy Except obviously with the US which is now in a hiking phase. You've still got the rest of the globe In an accommodation phase. So, you know, I think we are getting to a bit of a turning point here Domestic issuance I on the banks and also an electricity distributor. Yes, absolutely So we have an electricity distribution distribution at SGSP Australia They've gone into the US market and doing an issue over there and on the back of Westpac last week doing a US dollar issue We've had nab come out and do 2.25 billion Aussie So as I say plenty of money out there for these issuance and demand What was the what was the uptake on the NABB? Very good demand don't have the exact figure, but very good demand They got it away very easily at a nice margin haven't been affected by that recent Moody's downgrade And so really solid demand. I can probably tell you a bit later in the week how SGSP goes in the US market