Daily Flows & Insights – Week Ahead

Daily Flows

  • 12 month term deposit rates of 5.19% from two A1/A banks on Friday set the tone, attracting significant flows, as several unrated banks paid up above this rate.
  • 5.15% remains the top of the A2/BBB bucket for 6 month deposits today, with 5.21% the rate for A1/A.
  • Several foreign branch banks (A1/A+) will continue to pay +50 for 3 month NCDs this week.

Week Ahead

  • Australian unemployment data for March is out on Thursday after February’s surprisingly strong print, with economists expecting an unemployment rate of 3.9%.
  • Revisions to the February print will be interesting to watch after an improvement of 0.4% month-on-month, the largest nominal change in almost two years.
  • NAB’s quarterly business confidence survey, also out Thursday, has been declining for four consecutive quarters, with recent economic data unlikely to do much to reverse this trend.
  • US retail sales (tonight) and housing starts (tomorrow) are prints to keep an eye on overseas after an upside surprise in inflation data last week.
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Curve Team
Josiah Binet