AM Notes: Inflation Panic Day

Markets still on an aimless wander...

Overnight data

Australia's NAB business survey was resoundingly positive

• Business conditions rose to a record high in March, driven by strong increases in all subcomponents - which are all now also all at record highs
• The strength in conditions is evident across all states and industries. Forward orders – which also rose to record levels – points to ongoing strength in activity with the pipeline of work rising further
• While business confidence edged lower in the month, it remains at a high level, suggesting that firms themselves are optimistic that the strength in activity will continue.

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Tim Vollans

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