![Daily Flows & Insights – Service Activity Remains Expansionary In Australia](/_next/image?url=https%3A%2F%2Fdata.curve.com.au%2Fwp-content%2Fuploads%2F2023%2F02%2Fpexels-sevenstorm-juhaszimrus-443383-1024x768.jpg&w=3840&q=75)
Daily Flows
- Today, TCV has launched a 7-year floating-rate Benchmark bond with an initial price guidance of +40-42.
- Investors continue to add fixed duration to their portfolios and take advantage of elevated reference rates, with significant flow directed to durations of 3 years and beyond.
- Those willing to deposit with Foreign branch banks have been rewarded with outright levels of 6-month NCDs close to 5.30%.
Service Activity Remains Expansionary In Australia
- Private sector activity in Australia accelerated in Q2 2024, primarily driven by growth in the service sector, resulting in a third consecutive month of expansion.
- Higher new business inflows supported rises in business activity and employment, with firms remaining optimistic about future output.
- Despite higher input cost inflation, the rate of output price inflation eased in April.
- Input prices rose at a quicker rate, attributed to rising cost inflation, but firms attempted to partially absorb cost increases, leading to softer output price inflation.