Daily Flows & Insights – Falling U.S. Jobless Claims Excites Markets

Daily Flows

  • With the quarter’s end approaching, market participants have been actively locking in term deposit rates at 5.00%.
  • Yesterday, the Bank of China stood out with a 6-month term deposit rate of 5.13%.
  • The NCD market continues to see two-way flows, with the domestic margin currently sitting at 3mBBSW +40.

Falling U.S. Jobless Claims Excites Markets

  • On Thursday, U.S. equities rose after an unexpected drop in jobless claims, reducing the likelihood of a 50-basis-point cut by the Fed.
  • If the upcoming PCE data reflects measured disinflation, it will further support a gradual easing approach.
  • U.S. GDP data was revised, showing stronger consumer spending and pushing the annual growth rate to 2.9%.
  • With Victoria off today for the AFL Grand Final and minimal domestic data, investors should stay alert for end-of-quarter specials as banks may scramble to attract funds quickly.
Share this entry
Curve Team
Jack Pedersen