Daily Flows

• As we approach the end of the month, there has been a slight pick-up in demand.
• The going rate for 1-year term deposits remains approximately 4.75%.
• The only rate offered above 5.00% today is Rabobank’s (A-1/A) 5-year term deposit.

Tariff Talk Continues to Trouble Markets

• Ongoing Trump tariff discussions and political unpredictability continue to weigh on equity markets. Domestically, this has triggered a sell-off, with traders concerned that a further 10% tariff on U.S. imports from China could dampen Australian demand for key export markets.
• U.S. Treasury yields have moved lower, with the PCE index’s second estimate showing inflation as slightly stronger.
• With a relatively quiet domestic week for data, all attention is on the GDP release next Wednesday, where markets expect a 0.5% QoQ increase.