- Last Friday, numerous banks were on the bid for funds in the BBB space.
- Bespoke offerings of 5.15% for 6 months and 5.25% for 1 year were the standout term deposit offerings.
- NCD margins held at at +50 with flow directed to domestic BBB banks.
The Week Ahead
- At the beginning of this week, we have Westpac Consumer Confidence and NAB business confidence.
- Business confidence increased last month to 2 from a -1 index print the prior month and Business conditions stayed resilient.
- Consumers Sentiment has remained within a band of 79 to 81 with high interest rates doing little to ease worries about high borrowing costs.
- Midweek, U.S. Inflation data is released. Economists are forecasting of 3.4% YoY.
- To finish off the week, domestic employment comes out on Thursday.
- Then we have the ECBs interest rate decision and U.S. retail sales data.