Daily Flow & Insights – The Week Ahead
Curve Securities
by Jack Pedersen
1y ago
– Daily Flows & Commentary BY THE CURVE TEAM – Daily Flow & Insights – The Week Ahead Monday, 28th November, 2022 Daily Flows On Friday, Flows were subdued for both term deposits and NCDs. A domestic BBB attracted investors, offering 4.60% for a 1 year term deposit. Macquarie’s short-term rates continue to gain flow with a rate of 3.80% for three months. NCD flows were quiet. 35+ to 40+ remaining the market level required to retain funds. The Week Ahead Today in Australia, Philip Lowe appears before the Senate Economics Legislation Committee. His words will be deco ..read more
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Daily Flow & Insights – The Fed To Slow Down
Curve Securities
by Lawrence Vosper
1y ago
– Daily Flows & Commentary BY THE CURVE TEAM – Daily Flow & Insights – The Fed To Slow Down Thursday, 24th November, 2022 Daily Flows Yesterday, considerable flows were distributed to term deposits across the curve.  Some investors took advantage of Macquarie’s 3 month rate whilst others locked in a 2 year rate of 4.65% from an unrated domestic ADI.   NCD flows were more quiet, with +30 to +40 the margin range to attract funding.  Fed Meeting Minutes Signal Slowdown The Federal Open Market Committee meeting minutes for the beginning of November were ..read more
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Daily Flows & Insights – Phil Lowe’s Annual CEDA Speech
Curve Securities
by Hilton Ovenden
1y ago
– Daily Flows & Commentary BY THE CURVE TEAM – Daily Flow & Insights – Phil Lowe’s Annual CEDA Speech Wednesday 23rd November, 2022 Daily Flows It was a healthy day of flows, with investors placing funds across Term Deposits, NCDs and Bonds. There was a lot of activity in the bonds space as NAB launched 3 and 5 yr Fixed and Floating bonds, with the 3yr fixed and 5yr floating attracting our investors. The 3yr fixed priced at 4.67% and the 5yr FRN printed at 3MBBSW +120. Additionally, some investors saw it as an opportune to increase their exposure to 5yr fixed bonds, f ..read more
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Daily Flow & Insights – Global Oil Prices Remain Unstable
Curve Securities
by Jack Pedersen
1y ago
– Daily Flows & Commentary BY THE CURVE TEAM – Daily Flow & Insights – Global Oil Prices Remain Unstable Tuesday, 22nd November, 2022 Daily Flows Term Deposit flows varied. 3-month funding continues to offer a decent return due to increased demand from ADI’s. 3.70%-3.85% was the going rate.  Some investors chose to lock in 4.45% for a 18-month term deposit with a domestic BBB.  +30 to +40 was the market level for NCD funding.  Today, NAB has opened books on 3 & 5-year Senior Unsecured Fixed and/or Floating Rate Notes. Oil Price Movement In the Fac ..read more
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Daily Flow & Insights – Domestic Unemployment Falls
Curve Securities
by Jack Pedersen
1y ago
– Daily Flows & Commentary BY THE CURVE TEAM – Daily Flow & Insights – Domestic Unemployment Falls 18th of November, 2022 Daily Flows Term Deposit flow continued to be directed to 3 months for 3.85%, driven by significant demand from ADIs. A domestic BBB offered 4.45% for a one-year term deposit. NCD margins were steady at +30 to +35. Currently, there seems to be a squeeze for liquidity. Banks are looking to sure up funds before the holiday period and recent bond issuances may have drawn funds away from the wholesale NCD and Term Deposit channels. Labour Market Rema ..read more
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Daily Flow & Insights – Wages Grow, Employment Data & Yield Curve Inversion
Curve Securities
by Nicholas Allan
1y ago
– Daily Flows & Commentary BY THE CURVE TEAM – Daily Flow & Insights – Wages Grow, Employment Data & Yield Curve Inversion Thursday, 17th November, 2022 Daily Flows Demand for 3-month term deposits has been strong throughout the week. Rates have varied between 3.70% – 3.90%.  Investors locked in a stand-out rate of 4.55% for a 6-month term deposit with a Domestic BBB. NCD flows were limited, potentially due to the increased demand in 3-month term deposit funding. +30 to +40 was the going margin.  Bank Australia has launched a 3-year sustainability floati ..read more
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Daily Flow & Insights – Good Inflation News
Curve Securities
by Nicholas Allan
1y ago
– Daily Flows & Commentary BY THE CURVE TEAM – Daily Flow & Insights – Good Inflation News Friday, 11th November, 2022 Daily Flows Flows were healthy yesterday, with investors placing money across the curve. Competition for funding has continued, with 6 ADI’s coming to market with increased rates to attract Term Deposit funds. There was considerable flow for NCDs across 80-180 day terms, with margins at +35 and +40 respectively. Inflation Weaker Than Expected The U.S. CPI print overnight has printed better than expected. Markets were calling for headline inflation ..read more
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Daily Flow & Insights – Inflation Inflation Inflation
Curve Securities
by Nicholas Allan
1y ago
– Daily Flows & Commentary BY THE CURVE TEAM – Daily Flow & Insights – Inflation Inflation Inflation Thursday, 10th November, 2022 Daily Flows The main term deposit flows were directed to 3 month and 12-month terms due to ADI funding demands. Domestic BBBs were keen on 12-month funding. A rate of 4.60% was locked in by investors.  An Unrated bank came to market looking for short-term funding and was able to attract significant 3-month flow with 3.70%.  +30/+35 was the margin needed to gain NCD money.  Bullock’s ABE Address Last night Michelle Bullock ..read more
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Daily Flow & Insights – Household Data & Midterms
Curve Securities
by Nicholas Allan
1y ago
– Daily Flows & Commentary BY THE CURVE TEAM – Daily Flow & Insights – Household Data & Midterms Tuesday, 8th November, 2022 Daily Flows Flows were steady yesterday. For Term Deposits, investors favoured the short end of the Curve, investing from 3-6months.  A standout Term Deposit rate of 4.30% for 6 months was offered by a Domestic BBB and +30 margin was enough to attract NCD funding.  Westpac launched three and five-year floating and fixed rate notes, with a total of $2.80 billion issued. The five-year floating rate note raised $1.35 billion and was pr ..read more
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Daily Flow & Insights – A Quiet Domestic Week Ahead, US Midterm Elections Loom
Curve Securities
by Jack Pedersen
1y ago
– Daily Flows & Commentary BY THE CURVE TEAM – Daily Flow & Insights – A Quiet Domestic Week, U.S. Midterm Elections Loom Monday, 7th November, 2022 Daily Flows Last Friday had moderate Term Deposit flows.  Domestic BBBs continued to source Term Deposit funding, with AMP attracting investors for 1 year at 4.80%.  NCD flows were strong. 3-month NCDs remained attractive with margins consistent at +30.  The demand for funding seems to be heating up, with ADIs previously inactive in the money market beginning to source funds.   The Week Ahead Domest ..read more
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