Start your day with the NAB Morning Call for the latest overnight key economic and market information straight from our team of expert market economists and strategists. This includes perspective on overnight news and market price action and the forces shaping movements in Australian and global markets in the days ahead. Hosted on Acast. See acast.com/privacy for more information.
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Monday 26th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Even though Fed speakers positioned markets to expect gradual and methodical cuts late last week, it was a very different language used by Jerome Powell at Jackson Hole on Friday. NAB’s Tapas Strickland joins Phil to discuss what was…
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Friday 6th September 2024 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. China won’t achieve its 5% growth target this year. Yan Wang, Chief Emerging Markets & China Strategist at Alpine Macro, says the forward indicators show it won’t happen. So, what next …
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Friday 6th September 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB We are less than a day away from the US non-farm payrolls numbers, which are likely to determine whether the Fed cuts interest rates by 25bp or 50bp at this month’s meeting. NAB’s Ray Attrill says if the numbers are in-line with ex…
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Thursday 5th September 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Shares continue to push lower along with bond yields as markets continue to be concerned about the US jobs market. The JOLTs numbers overnight show the least number of jobs available since April 2021. JBWere’s Sally Auld says mar…
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Wednesday 4th September 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB There have been some sharp defensive market moves overnight. In currency markets safe havens have done well, whilst shares are well down, the VIX index has risen and bonds have rallied. Phil asks NAB’s Gavin Friend why all this …
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Tuesday 3rd September 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Markets were subdued again on Monday with the US on holiday. Today they are back, in time for the ISM manufacturing read. NAB’s Rodrigo Catril says the employment component of the report will get the most focus, as the first of se…
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Monday 2nd September 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB European inflation is now at its lowest level in three years, whilst shares hit an all-time high. That’s cemented in the probability of a cut by the ECB this month. Expectations for cuts by the Fed haven’t moved any higher, as the …
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Friday 16th August 2024 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. Despite all the fears of a major slowdown, Australian shares have continued to rise and the latest results season has provided stronger than expected earnings. nabtrade’s Gemma Dale says …
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Friday 30th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Two surprises from the US. First, a 100 percent growth from NVIDIA wasn’t enough for investors, who obviously expected more. So, even though their results were considered a beat, their share price is still well down. The other surpri…
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Thursday 29th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Equity markets were preoccupied with NVIDIA earnings for much of the week, finishing the session with unwarranted pessimism. As it turns out, earnings beat expectations and forecasts for the next quarter are also above the street’s…
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Wednesday 28th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Australia’s latest monthly inflation number is out today. Phil asks NAB’s Skye Masters what’s expected and how pivotal will it be to the RBA, given they seem intent to keep rates on hold until next year. This time tomorrow NVIDIA …
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Tuesday 27th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB There hasn’t been a lot of market movement overnight. What there was saw a slight reversal on positions taken after Powell’s talk at Jackson Hole. Hence, the dollar is back up a little, shares have fallen, and bond yields are up sli…
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Friday 16th August 2024 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. On the face of it you’d wonder why central banks in New Zealand and Australia have taken such different paths when it comes to fighting inflation. They are both western economies that wer…
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Friday 23rd August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Bond yields are higher, the dollar has fallen and US equities are lower. Markets have switched direction over the last 24 hours. NAB’s Ray Attrill says there are three reasons for the reversal – the latest PMI data, central bank spea…
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Thursday 22nd August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Today as the US dollar weakens again, against a rising Yen, Phil asks JBWere’s Sally Auld to explain the impact rates differentials are having on the Japanese carry trade. The FOMC minutes this morning came as close as they possibl…
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Wednesday 21st August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB It’s been another quiet session, with stocks taking a breather after an 8-day rally, with volumes for the S&P 25% below its 20-day average. Bond yields have pushed lower, which NAB’s Ken Crompton says is largely a response to Cana…
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Tuesday 20th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB We are in the thick of the US and European holiday season, mixed with a dearth of data. Hence, shares are pushing higher, presumably on the hope of greater reassurance around rate cuts from the Fed at Jackson Hole. NAB’s Gavin Frien…
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Monday 19th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Central bankers get together for the glitzy proceedings of the Jackson Hole Symposium this week. Will Jerome Powell use it s a springboard for more advice on how and when the Fed will cut rates? Probably not, says NAB’s Rodrigo Catri…
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Friday 16th August 2024 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. A report last week from S&P Global highlights that the debt held by Australian states could exceed $600 billion later this year. Rebecca Hrvatin joins Phil to discuss this rise in debt an…
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Friday 16th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB US retail sales numbers out yesterday showed surprisingly strong spending in July. That’s pushed equities markedly higher. But NAB’s Rodrigo Catril says bond yields are up as markets see this retail strength as a sign that the US is …
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Thursday 15th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB US shares moved up slightly – except for the Russell 2000 - and bond yields fell a little, after the release of the US Core CPI print overnight. The response was muted because the data came in pretty much as expected. It was anyone…
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Wednesday 14th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Softer than expected producer prices in the US has convinced the markets that the Fed will be ready to cut in September. NAB’s Skye Masters says in an environment where decisions by central banks are so data dependent we are seein…
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Tuesday 13th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB US shares and bond markets have remained relatively calm, as we await the latest inflation data from the US (PPI today, CPI tomorrow). There’s plenty of data flow this week, says NAB’s Taylor Nugent, but there’s been nothing so far …
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Monday 11th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Remember when Pauk Keating talked about the recession we had to have? Markets thought the US was heading the same way last week, but went off the idea as the week progressed. Thoughts of an emergency rate cut were quickly dismissed, …
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Friday 9th August 2024 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. Friday (Aug 9th) is the United Nations' International Day of the World's Indigenous Peoples. To celebrate, the Morning Call looks at how Australia is witnessing a growth in companies estab…
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Friday 9th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB There was a sharp turnaround in US equities, with the S&P closing up 2.3%. It seems a lot of weight has been put behind the weekly jobless claims number, which is not normally a data point that would drive markets. But in this climate…
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Thursday 8th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB There is still a lot of volatility around. US shares started the session well, with strong signs that risk appetite was improving. Then came a weak response to a a $42 billion 10-year bond auction. That made markets nervous and US e…
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Wednesday 7th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Is it feasible to expect a sharp recovery from one data set, after the extreme response to last week’s US jobs data? Markets bounced back sharply today, pushing US yields higher, strengthening the dollar and pushing shares back up.…
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Tuesday 6th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB US shares took more of a hammering on Monday, although an upside surprise on the Services ISM read stopped things spiralling from bad to worse. Phil talks to NAB’s Tapas Strickland about another day of volatile market action, particu…
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Monday 5th August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB There was a strong response to the weaker than expected US payrolls numbers on Friday, not on the heals of weak manufacturing data. Markets will be sensitive to the Services today, in case it adds another blow to US growth and fuels m…
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Friday 2nd August 2024 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. The latest Bloomberg New Energy Outlook seems to show that globally we are way off the mark when it comes to reaching Net Zero by 2050. Instead, the report suggests we could still be pumpi…
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Friday 2nd August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB The US share market has taken a bit of a beating after US manufacturing numbers came in a lot softer than expected. It was another sign of a US slow down that has some clearly wondering whether the Fed will cut more this year. There i…
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Thursday 1st August 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB It’s been a busy session, with US shares shooting higher as the Fe keeps rates on hold but the market reading the fed’s commentary of a September cut even more likely. During the press conference Jerome Powell basically said it was …
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Wednesday 31st July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB It’s a packed episode of The Morning Call today as Phil gets NAB’s Ray Attrill to take us through the latest GDP and inflation data from Europe, jobs data from the US and, from China, the Politburo’s promise to jump into action and …
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Tuesday 30th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB It’s been a quiet session, with shares and bond markets moving very little, as we await the Fed and some high-profile earnings results. We’ve seen very tight trading ranges, says NABs Skye Masters on today’s podcast. The mood music th…
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Monday 29th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Get ready for a busy week, with US jobs umbers, Australian inflation, three ig earnings results from US tech giants; and the Fed meets, so does the Bank of England and the Bank of Japan. NAB’s Rodrigo Catril says one will stay on hold,…
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Friday 26th July 2024 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. Things are changing in Japan. After decades of not much happening, suddenly everything is happening. Core inflation is up to 2.6%, the Yen is the weakest in a long time, the stock market ha…
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Friday 26th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB A sharp turnaround in US optimism it seems, with this week’s disappointing PMIs easily overwritten by an upside surprise on GDP. Jobless claims were also down a little. The response – rising equities and falling Treasury yields. Phil a…
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Thursday 25th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Bill Dudey, former NY Fed Governor, now Bloomberg pundit, has said the FOMC needs to cut rates next week and it might already be too late to avoid a recession. NAB’s Ken Crompton says this comes from a man who had advocated staying h…
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Wednesday 24th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Alphabet and Tesla both reported better than expected headline revenue numbers after the US close, but the mood is still cautious. The S&P, Dow and NASDAQ all closed in the red, but a 1% rise in the Russell 2000. JB Were’s Sally Aul…
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Tuesday 23rd July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB If markets were being driven by Trump-trade, the thought that he might have a more credible contender hasn’t had much impact. But what were we expecting? Phil talks to NAB’s Taylor Nugent about whether, beyond bitcoin, the Trump-trade…
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Monday 22nd July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB The breaking news this morning is that Joe Biden is stepping down from the US Presidential race and endorsing Kamala Harris as the Democratic candidate. Phil asks whether they’ll be a market response, or have we already been seeing it.…
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Friday 19th July 2024 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. Much of the world is on the road to achieving to net zero by 2050, a target which gets more challenging as each year passes. Australia is on the right path, but it isn’t leading the pack. W…
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Friday 19th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB US equity markets fell sharply overnight. It’s not just tech stocks feeling the hurt, the weakness is spread more broadly than that, implying that concerns of an economic slowdown are outweighing the benefits of rate cuts. Rate cuts co…
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Thursday 18th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB It doesn’t take Donald Trump to launch a trade war with China. The Biden administration has threatened further limits on microchip exports to China, which hit tech stocks heavily in the US. NAB’s Taylor Nugent says currencies, meanwh…
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Wednesday 17th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB US retail numbers came in stronger than expected. Phil asks NAB’s Ray Attrill whether this could delay any moves by the Fed? Certainly, equity markets ae banking on cuts coming soon, with the rotation in stocks continuing and anothe…
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Tuesday 16th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Equity markets are showing some adjustment to the prospect of a Trump presidency, with oil producers and gun makers doing well, renewables falling and Bitcoin up almost 6% today. Bond markets are still more responsive to Fed-speak. NA…
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Monday 15th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB The assassination attempt against Donald Trump on Saturday is likely to bolster his support, ahead of his GOP official nomination this week. NAB’s Tapas Strickland tells Phil that betting markets have shifted further in favour of a Rep…
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Friday 12th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB NAB has been looking at a variety of high frequency data sources to see how quickly workers are returning to the office. In this edition NAB’s Tapas Strickland says the trend seems to have stalled at 75% of pre-COVID levels. Credit ana…
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Friday 12th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Big market moves to a softer than expected CPI read in the US overnight. Bond yields are lower, the US dollar is lower and a big response in equity markets. Basically tech stocks have been hit hard, whilst industrials have climbed. Rot…
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