Daily Flows & Insights – A Festive Week Ahead

Weekly Flows

  • Several foreign A1 and domestic A2 NCD issuers are chasing funds at +55 this week ahead of the Christmas break, with the majority fairly set ahead of the festive period.
  • Opportunities remain in the unrated space with up to 5.25% available for 3 month term deposits for any investors looking to invest this week.
  • We expect small funding gaps to open up throughout the week, with the opportunity to take advantage of attractive special rates while opportunities are open – please reach out to your Curve representative should you be looking to place any last-minute festive funds.

A Festive Week Ahead

  • The final working week of the calendar year is shaping up to be a relatively quiet one, with few new insights expected in tomorrow’s RBA Meeting Minutes release at 10:30am.
  • Also tomorrow, the BoJ will retain the world’s last remaining negative interest rate tomorrow for the 95th consecutive month, with all 55 economists surveyed by Bloomberg projecting a hold.
  • Quarterly numbers for US Core PCE, the Fed’s preferred measure of inflation, are out on Friday, with economists expecting no change from the September print (2.3% growth QoQ).
  • Fed officials were trotted out over the weekend in an attempt to stem the dot plot-induced bond rally of the preceding two days, with New York Fed President John Williams reminding the market it is “premature to be even thinking about” rate cuts. Whether the market agrees remains to be seen.


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Curve Team
Josiah Binet