 our bond markets are trading. Simon Michelle is joining us live from Fig Securities. Simon great to see you there this afternoon. Thanks for joining us. Now of course we know US markets are closed for President's Day. How are we seeing those yields tracking? Good afternoon Leanne and yes look on Friday night US yields ended a little bit lower on a few concerns out of Europe and that's really where we started the week. A little soft as you say, not much happening around there. Not a lot on data releases this week as well. We do have the RBA minutes the February board meeting out tomorrow but look pretty pretty quiet start to the week really Leanne. Americans foreign creditors selling treasuries. This is really interesting yeah now we know that the two biggest holders of US Treasuries are China and Japan. We know China has been selling off their Holdings US Treasuries since since about August last year but we've also had two months of Japan selling as well and so you know that's starting to create a bit of noise I suppose and especially in relation to the new President and whether it's related to that it could be related to the fact that markets are expecting yields to go up but current foreign holdings of US Treasuries about 43 percent. It's found it down about 10 percent from where it was about a decade ago. Interesting all right now you mentioned the the RBA board meeting minutes which will be a focus tomorrow. Given that I mean how are we seeing Aussie yields tracking. Yeah pretty steady really I mean investors certainly have to take on a little bit more risk and we're seeing that reflected in narrower credit spreads but look I think really it's a little bit on unknown it's interesting a couple of the Aussie banks are suggesting that we'll see a lower cash rate from the RBA this year other banks saying we'll see a higher cash rate. The RBA is sitting pretty comfortable you know pretty happy with things so I think it will be it will be a bit of news to the market we'll be able to sort of go through with a bit of fine to come and see if there is any change in the in the messaging there but look I'm not expecting a lot of this point in the in the year Leanne. And just to finish off with any interesting sort of domestic bond issuance as you should inform us about. Yeah well we've got CBA adding to its pearls issuance that's this is the hybrid securities these are the tier one securities they sit just above equity looking to do a new issue there about 750 million and bank of China also looking to do a three-year floating rate note in Aussie dollars as well so certainly we're seeing strong issuance continue in this market. All right fantastic Simon we'll leave it there really appreciate you joining us as always thank you. Thanks Leanne have a good day.