Daily Flows

• Today, there are multiple ADIs looking for funds in the TD space. Market participants quick to act could pick up a rate of 5.20% for 1 year.
• NCD margins are going at +50 as banks are looking for funds to meet end of month metrics.
• CBA has launched a senior unsecured floating rate 1 year MTN with a margin of 3mBBSW +36.

Consumer Sentiment Remains at Historic Lows

• Headline consumer sentiment for March dropped by 1.8% month-on-month to 84.4, despite a significant rise last month, showing divergent sentiment across different housing situations.
• Concerns about the economic outlook and family finances contributed to the decrease, despite a 1.1% rise in the 5-year economic outlook.
• Unemployment expectations index stabilised, indicating that the unemployment figures may be exaggerated due to seasonality.
• The index has remained below the neutral mark of 100 since February 2022, marking the longest streak since the early 1990s recession.