 Jessica Russett from Fixed Securities is joining us. Jessica, great to see you there today. Just talk us through what we are seeing in the bond market because it certainly does get... You know, we've seen these geopolitical risks easing. How much is that flowing through to bonds right now? Hi, Leanne. Thanks for having me. That's right. So it seems that in the lead-up to Easter, we did see these geopolitical risks come through. We had a safe haven play. And at the moment, it seems to be more risk-on at the moment and there's less of demand for bonds at the moment. So we had the outcome of the US election over the weekend, or the referendum. There was also that failed North Korean missile as well. And so there is very much these tensions are easing and we had US Treasury bond yields higher. The 10-year was a basis point higher and that closed at 2.25%. And are we seeing Aussie yields following those US yields higher? Yeah, that's right. So they have also moved higher as well. So we had the Aussie government five and 10-year, two and three basis points higher, respectively. And we've got at the moment the five years is just over 2% and the 10 years is just over 2.5% at the moment. So they're coming off their lows for the month, which were just pre-Easter. So once again, those geopolitical risks, it was a safe haven just before Easter. And so now we're seeing that ease and they're moving higher as well. OK, excellent. The RBA board meeting minutes. Of course, they were in focus today. How much has that played into the market? Because obviously, high household debt concerns, inflation. There's a whole paragraph that are dedicated to their concerns around inflation. What was your view on those minutes and how did we see that the market reacting? Yeah, sure. So there actually wasn't too... Anything too surprising coming out of those minutes? There wasn't really that much different language or user rhetoric or anything along those lines. We have seen at the moment the Aussies come off just a little bit. We also have iron ore down at the moment. That could be a reaction to that as well. But I think at the moment, the RBA's hands are really quite tied with the housing at the moment, the overheating market in both Sydney and Melbourne. So really until that situation cools, I think they're very much limited in what they can do in terms of rate cuts at the moment. Speaking of rate cuts, well, of course, we talk about rate increases in the US, and it seems like the probability of a June Fed hike is decreasing. Seems like there's a few factors really working against US rate increases, not least of all, clarity on Trump's tax reform. Yeah, that's right. So there seems to be some factors that are actually out of the Fed's hands that are working against them. The possibility of a June hike is down to 47%, and that was from 60% over the month. And also in December as well, that's also the possibility of that down as well to 37% as well from 56%. So just looking at that, we can see that the market's losing confidence that they're actually going to go ahead with these rate increases. And part of that is due to, as you mentioned as well, the belief and the clarity that President Trump will be able to get these tax reforms and the infrastructure spending across the line. And also as well, we've had some weak data recently out of the US as well over the weekend. We had really poor CPI come in that was disappointing. And also the Fed has spoken about normalization of its balance sheet, where it will be shrinking its holdings. And so as a result of that, that's naturally going to see yields increase because of the less demand for these bonds.