![Daily Flows & Insights – Rates Resist Rally, Pessimism Persists](/_next/image?url=https%3A%2F%2Fdata.curve.com.au%2Fwp-content%2Fuploads%2F2023%2F02%2Fpexels-essow-936722-1024x683.jpg&w=3840&q=75)
Daily Flows
- Recent ratings upgrades for BoQ and Judo have attracted significant term deposit flows to kick off the week, with the latter’s market-leading rates proving particularly popular.
- Longer paper from the newly-upgraded issuers is also attracting investors keen to lock in a pick-up in yield for no downgrade in risk-weighting.
- NCD margins of +50 remain from foreign A1 and domestic A2/BBB names today.
Rates Resist Rally, Pessimism Persists
- Aussie 10 years finished the day up 10 basis points yesterday, with US 10 years at 4.42% – their highest since November 2023.
- Australian consumer confidence took another hit this month, falling 2.4% as the Westpac-Melbourne Institute index recorded a third consecutive negative print.
- Households remain concerned about economic prospects ahead, and the consequent pressures on their finances, with pessimism heavily outweighing optimism once again in this survey as a reading of 100 is neutral.
- NAB’s business confidence indicator is out at 11:30am and will be another one to watch after teetering in positive territory in February.