Daily Commentary BY THE CURVE TEAM –

March 31st Deadline Arrives

31st of March, 2021

A key government scheme expires tonight.

The end of JobKeeper comes tonight, with the economic effects uncertain. It will take time to flow through to the data.

It is expected to have an impact, but not a drastic one, especially considering the surging job market. Brisbane’s lockdown is a caveat to this expectation.

Eight new cases were recorded yesterday, which has prompted fears that lockdowns will be extended into Easter. This would likely have ramifications for the economic recovery.

Yesterday regulators approved NAB’s acquisition of 86400. This adds to the Bank of Queensland and ME merger set to take place during the middle of the year.

Investors with exposure to the merging ADIs will have to be mindful of policy limits when the entities merge.

Today, credit data and building approvals for February are released.

Josh Stewart

Associate - Money Markets