Daily Flows & Insights – Meaty Macro Moves after Powell Posits Prolonged Pause

Daily Flows

  • 6 month A2/BBB+ NCD margins at +55 caught the eye of investors yesterday as the benchmark climbed to 4.61% yesterday.
  • 5 year deposit rates moved even higher yesterday with 5.20% from an A1/A bank available for investors looking for duration.
  • Curve is assisting a client in switching out of a large amount of second-tier bank paper this morning and can offer them at attractive levels, which have maturities out to 3.5 years. Please contact your Curve representative for more information.

Meaty Macro Moves after Powell Posits Prolonged Pause

  • Australian employment data is due in this morning with expectations of an increase in the unemployment rate to 3.9% after an exceptionally strong February print of 3.7%.
  • Economists tip 10,000 workers to be in new jobs this month, a significant drop on the nominal jump of 116,500 last month – the largest in over two years.
  • Revisions to February’s data will be worth keeping an eye on with the traditionally volatile reading a chance of being revised down.
    NAB’s business confidence reading for Q1 has trended negative for the last four quarters and the print at 11:30am may continue this downward momentum. This is on the back of bleak data prints across the quarter indicating the continued presence of inflationary pressures in the economy.
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Curve Team
Josiah Binet