Daily Flows
- Following gradually softening employment data, it seems that flow picked up in the 3-5 year term deposit space as investors consider its impact on the Monetary policy outlook. Levels above 5.15% were locked in.
- Market participants placing funds into foreign branch banks enjoyed attractive margin of +55 for 3 months on Friday.
- With offerings of 3mBBSW +20, there were strong bids for the Treasury Corporation of Victoria 2028 Floating Bond.
The Week Ahead
- Markets were quiet at the end of last week. With not much data to trade off, U.S. equities continue to hold near record highs.
- U.S. Bond yields rose slightly throughout the day but finished the week down slightly, with the 2-year yield down by 5 basis points.
- An area of uncertainty going forward will be the fate of Iran’s President Ebrahim Raisi, with reports claiming he has been involved in a helicopter crash.
- On the domestic front, consumer confidence data and the RBA minutes will be key points of interest.
- Overseas, the FOMC meeting and multiple Fed speeches will hopefully provide further clarity on the U.S. monetary policy outlook.