Daily Flows & Insights – Housing Approvals Drops to 11 Year Low 

Daily Flows

  • With thin data for markets to move off, reference rates have been stable.
  • Rises in TD and NCD rates have been primarily driven by a strong demand across the system.
  • This has been rewarding for market participants looking to place who have been able to pick up TDs upwards of 5.00% and NCDs at a margin of +50 today.

Housing Approvals Drops to 11 Year Low

  • Total dwellings approved in Australia fell by 8.1% for the month of April.
  • This came in significantly lower than the consensus of a 1.0% fall.
  • This considerable fall was driven by less permits for apartment and townhouse buildings.
  • The released data may suggest that the laggard effect of restrictive monetary policy may finally feeding into the economy.
  • As the population growth continues to surge and demand for housing increases, this trend of new dwellings slowing down my exacerbate the current rental and affordability housing crisis.
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Curve Team
Jack Pedersen