Daily Commentary BY THE CURVE TEAM –

Daily Insights – US Inflation Surges

11 November, 2021

Consumer Confidence

  • Was up 0.6% to 105.3 for November.
  • The big movers were family finances vs a year ago, down 4.5% and the unemployment expectations index, down 11.1%.
  • NSW confidence was also up 4.4%.

Payrolls Up Strongly

  • For the two weeks to 16 October, payrolls were up 1.3%.
  • NSW was up 3.5% as lockdowns were unwound.
  • The end of Victorian lockdowns should pose an upside for future payrolls releases.

US Inflation

  • Was up 0.9% for October, to be 6.2% for the year, which was higher than the expected 0.6% rise for the month.
  • Core inflation was up 0.6% for the month and 4.6% for the year.
  • Yields were up as a result, with the ten-year US treasury up nearly 10 points.
  • This should flow to Australian rates.

MyState Issues

  • Three years at +60, indicatively $50 million.
  • Pricing and volume is yet to be confirmed.

Josh Stewart

Associate - Money Markets