 later Simon Michelle from FIG for you. Simon, welcome to you. Really settling in first on North America, just some of those catalysts for the overnight moves. What would you put them down to? Yeah, look really interesting. We're certainly seeing a bit of caution on the back of investors and they're just sort of sitting on the sidelines at the moment. Good demand for bonds. You're seeing that reflected with weaker equity markets as well. Look, a lot happening in the next 24 hours. We've got obviously the Comey testimony happening over the US. You've got an ECB meeting we're likely to hear from Mario Draghi. Not expecting a lot of change there but you know, will they adjust their bond buying program and the UK election. So I think there's a lot for investors to sort of take on and I think you're seeing a little bit of sitting on the sidelines at the moment. Now, alongside that reports that China might well be wanting to add to its UST holdings. Where does this come from? Yeah, look absolutely. Second largest holder of US Treasury holdings behind Japan, sorry, non US holder. They sold down a lot of their holdings last year which was quite a significant change in their flow over recent times. Normally, they've just been increasing their holdings of US Treasuries and we've seen in the first quarter of this year they've been increasing again. They're up 29 billion. So what that sense of the market is, you know, indicates that, you know, the economy is obviously stabilizing. They're not having to use so much of that money to prop up the one and I would also suggest you know, some of the capital controls they've implemented to try and stop external flows of Chinese currency may be working as well. So I've seen a significant reversal of that move we saw last year where they sold down a lot of holdings. Okay, let's just put it into context on today's release. The GDP print now, $8 street high, but those credit spreads tracked via the eye tracks figure haven't really moved much at all. Look, they haven't really moved much at all. They did move up a little bit last week. You know, they moved up from about sort of 81 up to about where are they now, 87. But interestingly, I think, you know, if you have a look at our yields there, you know, our 10 year down at 2.36%. That's almost 60 basis points below the peak for this year. And interestingly, you've seen that year on year growth figure move from 2.4 at the December quarter to 1.7 released today. So, you know, 70 basis points down there. So, you know, you can see that correlation as those longer term yields have drifted lower in anticipation of this low growth figure coming through. Yeah, so there's a little bit of help in the form of that inevitably though. So be grateful for small mercies, I guess. That's true. Simon, thank you very much. Talk to you soon. Thanks, guys. Simon Michele from Fig There.