 are for more and I might just focus Jonathan locally because all eyes on this new 30 year government bond price today. Talk us through the implications of this one. Yes good afternoon Ingrid absolutely right that's kind of the big news in the local market today the government finally pricing their long-awaited 30 year bond. It's come at about a fixed yield of 3.24%. Interesting sort of technical thing is that the coupon is actually 3% so it will actually issue at slightly under par but the the good thing is that it gives a benchmark now to that long end of the curve so if corporates want to issue for example you know we're always talking about infrastructure being desperately required if you want to fund long-term infrastructure now you've got a benchmark to price it against. I mean it's in terms of the pricing it certainly is attractive isn't it? Yeah look I mean you might not think that three and a quarter is much for a 30 year exposure but you know we are one of the few AAA rated issue government issuers with all three agencies and when you compare three and a quarter to you know the negative yields that are around the world in other jurisdictions then it certainly does look pretty attractive if you're a pension fund for example who's got you know 30 year liabilities to fund. What about bond markets globally we were just discussing here on set about you know the US election coming up and all the macro risk involved over the next couple of months in particular I mean how's that impacting bond markets right now globally? Yeah look it's actually interesting I think we've seen a bit of risk premium come back into the markets you know we've seen government yields go back up by about 20 to 25 points in the last two weeks or so our 10 year is about two and a quarter now so I think definitely the uncertainty surrounding the US election is having an effect although you know it seems to be the consensus that Trump has basically talked himself out of any chance but you know we thought that with Brexit and look what happened there so like I said certainly some risk premium coming back into the market we're also seeing some issuance from CBA following on from ANZ successful US dollar hybrid they've just launched a subordinated lower tier two bond in US dollars which seems to be very well received. All right Jonathan Sheridan always appreciate your update thank you. Thanks Ingrid. Thank you security stay at Jonathan Sheridan.