Daily Flows

• Today marks the last day for AMP (A-2/BBB+) discretionary rates, with 5.10% for 6 months standing out as a notable highlight over the past month.
• Seasonal inflows have comfortably met any market demand, accommodating banks with funding requirements.
• Trading volumes in Semi-Government floating lines remain steady, with activity focused on QTC, TCV, NSW, and WATC.

All Eyes on Trump

• With minimal Tier 1 data available, attention shifted to Trump and his initial actions as president.
• He began with a flurry of executive orders, signalling that his administration will review existing trade relationships.
• The absence of immediate new tariff proposals was well-received by equity markets, contributing to a rise in stock prices.
• Australian markets will be closely monitoring developments, as tariffs could disrupt supply chains and increase the cost of global trade.