NAB Morning Call
Episodes
US dollar and bond yields continue to rise, till when?
27 Sep 2022
Contributed by Lukas
Wednesday 28th September 2022NAB Markets Research DisclaimerFinancial Services Guide | Information on our services - NABA rising US dollar, yields pus...
Unruly Britannia
26 Sep 2022
Contributed by Lukas
Tuesday 27th September 2022NAB Markets Research DisclaimerFinancial Services Guide | Information on our services - NABThe pound fell to an all-time lo...
The pound hammered, will it last?
25 Sep 2022
Contributed by Lukas
Monday 26th September 2022NAB Markets Research DisclaimerFinancial Services Guide | Information on our services - NABThe UK budget that wasn’t a rea...
Central bank overload
22 Sep 2022
Contributed by Lukas
Friday 23rd September 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Bond yiel...
0.75% hike by the Fed, no bluff
21 Sep 2022
Contributed by Lukas
Thursday 22nd September 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9No surp...
Fed to push higher, Putin pushing for referendums
20 Sep 2022
Contributed by Lukas
Wednesday 21st September 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Bond y...
Fears the Fed will keep at it for a while yet
19 Sep 2022
Contributed by Lukas
Tuesday 20th September 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9It was a...
Prepare for a volatile week of Banks and Holidays
18 Sep 2022
Contributed by Lukas
Monday 19th September 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9It’s a ...
Heading higher and taking longer
15 Sep 2022
Contributed by Lukas
Friday 16th September 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Front end...
The day after. No big bounce.
14 Sep 2022
Contributed by Lukas
Thursday 15th September 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Yesterd...
Peak inflation, not yet
13 Sep 2022
Contributed by Lukas
Wednesday 14th September 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Market...
The risk of rising risk sentiment
12 Sep 2022
Contributed by Lukas
Tuesday 13th September 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Risk sen...
Fed still pushing, BoE pushes back, EU struggling for answers
11 Sep 2022
Contributed by Lukas
Monday 12th September 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Curiously...
Yields rising as ECB lifts rates and Fed prepares for a big one
08 Sep 2022
Contributed by Lukas
Friday 9th September 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Even though a big hi...
Bigger hopes of smaller hikes to come
07 Sep 2022
Contributed by Lukas
Thursday 8th September 2022 View our disclaimer and terms of use: nab.co/3shJyyp View our NAB Financial Services Guide: nab.co/3rvJtI9 There were big ...
More work for the Fed, UK’s massive Truss Fund
06 Sep 2022
Contributed by Lukas
Wednesday 7th September 2022 View our disclaimer and terms of use: nab.co/3shJyyp View our NAB Financial Services Guide: nab.co/3rvJtI9 There was a st...
UK and Europe move from bad to worse, RBA today
05 Sep 2022
Contributed by Lukas
Tuesday 6th September 2022 View our disclaimer and terms of use: nab.co/3shJyyp View our NAB Financial Services Guide: nab.co/3rvJtI9 It’s RBA day t...
Putin ends Goldilocks moment
04 Sep 2022
Contributed by Lukas
Monday 5th September 2022 View our disclaimer and terms of use: nab.co/3shJyyp View our NAB Financial Services Guide: nab.co/3rvJtI9 There was a short...
Will strong jobs numbers add to the Fed’s battle tonight?
01 Sep 2022
Contributed by Lukas
Friday 2nd September 2022 View our disclaimer and terms of use: nab.co/3shJyyp View our NAB Financial Services Guide: nab.co/3rvJtI9 We know the world...
Euro inflation high, pound heading back to the pleasure dome
31 Aug 2022
Contributed by Lukas
Thursday 1st September 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Euro area inflatio...
More good news, that’s actually bad news
30 Aug 2022
Contributed by Lukas
Wednesday 31st August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9The US jobs market ...
Aussie yields push higher after July’s shopping bonanza
29 Aug 2022
Contributed by Lukas
Tuesday 30th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Bond yields in Austra...
Fickle equity investors respond to unsurprising Powell comments
28 Aug 2022
Contributed by Lukas
Monday 29th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9We knew Jerome Powell ...
Peering into Jackson hole
25 Aug 2022
Contributed by Lukas
Friday 26th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9There’s unlikely to ...
Dire Straits for UK and Europe
24 Aug 2022
Contributed by Lukas
Thursday 25th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Ukraine has just cel...
Business activity falls, but not enough to slow the Fed
23 Aug 2022
Contributed by Lukas
Wednesday 24th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9It’s that time of...
Markets respond as European gas prices push ever higher
22 Aug 2022
Contributed by Lukas
Tuesday 23rd August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9The US dollar has ris...
Shopping to the very end
21 Aug 2022
Contributed by Lukas
Monday 22nd August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Markets seem to have g...
Fed still trying to show they won’t give in
18 Aug 2022
Contributed by Lukas
Friday 19th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Bond markets have been...
UK’s sticker shock inflation drives caution
17 Aug 2022
Contributed by Lukas
Thursday 18th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Inflation clearly is...
Retail, wages and RBNZ
16 Aug 2022
Contributed by Lukas
Wednesday 17th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Central banks conti...
Slow boat from China
15 Aug 2022
Contributed by Lukas
Tuesday 16th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9The Aussie dollar has...
A positive outlook, apart from the downturn
14 Aug 2022
Contributed by Lukas
Monday 15th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9There was a lot more p...
Not convinced by the Fed
11 Aug 2022
Contributed by Lukas
Friday 12th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Markets are still beha...
False hope on easing inflation?
10 Aug 2022
Contributed by Lukas
Thursday 11th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9US inflation numbers...
Inflation Day
09 Aug 2022
Contributed by Lukas
Wednesday 10th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9The long-awaited US...
Markets in limbo
08 Aug 2022
Contributed by Lukas
Wednesday 9th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9Markets are a bit in...
US jobs market too hot for the Fed?
07 Aug 2022
Contributed by Lukas
Monday 8th August 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9The US non-farm payroll...
Uncertainty reigns, except in Britain. It’s just grim there.
04 Aug 2022
Contributed by Lukas
Friday 5th August 2022Markets continue to be pulled in two directions. Is inflation peaking with the hope of a soft landing? Or is there more to come,...
The quick path to credible disinflation and other stories
03 Aug 2022
Contributed by Lukas
Thursday 4th August 2022Nancy Pelosi has moved on from Taiwan and taken the cautious sentiment with her. Instead, very positive ISM services numbers i...
Pelosi in Taiwan, Fed nowhere near almost done
02 Aug 2022
Contributed by Lukas
Wednesday 3rd August 2022There has been some market caution this morning as Nancy Pelosi arrives in Taiwan, much to the disgust of China. Her rhetoric...
Recession signs, RBA to hike, grains from Odessa
01 Aug 2022
Contributed by Lukas
Tuesday 2nd August 2022There were further signs of a looming recession, with the US manufacturing ISM weakening, the Caixin Manufacturing PMI also low...
No inflation slowdown, just wishful thinking
31 Jul 2022
Contributed by Lukas
Monday 1st August 2022For those hoping that inflation was peaking (anywhere), then Friday didn’t bring good news. PCE numbers in the US are rising, ...
When is a recession not really a recession?
28 Jul 2022
Contributed by Lukas
Friday 29th July 2022US GDP fell by 0.9 percent in Q2. On top of the 1.6 percent fall in Q1 that meets the technical definition of a recession. But Je...
Fed hikes 75bp, no forward guidance
27 Jul 2022
Contributed by Lukas
Thursday 28th July 2022The FOMC has met, they’ve pushed rates up 75 basis points and, whilst Jerome Powell said there would be no forward guidance, ...
Shares down as consumers focus on the essentials
26 Jul 2022
Contributed by Lukas
Wednesday 27th July 2022There gave been sizeable falls in US equities, mainly stemming from a cut to Walmart’s profit estimates. NAB’s Tapas Stric...
Then there was one (turbine)
25 Jul 2022
Contributed by Lukas
Tuesday 26th July 2022From Wednesday one of two operating turbines on the Nordstream pipeline will be switched off, effectively halving the existing s...
Softer data, harder RBA
24 Jul 2022
Contributed by Lukas
Monday 25th July 2022PMI numbers were much weaker than expected on Friday, particularly for US services, which fell quickly into a contractionary read...
ECB makes it to zero
21 Jul 2022
Contributed by Lukas
Friday 22nd July 2022As we predicted the ECB lifted interest rates by 50 basis points yesterday, up to zero percent. NAB’s Ken Crompton says this wa...
Gas will trickle, Draghi will go, ECB will hike
20 Jul 2022
Contributed by Lukas
Thursday 21st July 2022There’s some confidence in the markets this morning, despite what seems to be a compendium of bad news for Europe. NAB’s Ga...
Markets set for a tougher ECB
19 Jul 2022
Contributed by Lukas
Wednesday 20th July 2022Markets are preparing for a big rate rise by the ECB tomorrow. NAB’s Rodrigo Catril says they are hiking when the expectatio...
Oil rises as Saudi’s don’t budge, gas to Europe unlikely this week
18 Jul 2022
Contributed by Lukas
Tuesday 19th July 2022The resumption in gas supplies to Europe could well be delayed, but perhaps Russia has a legitimate reason. A bigger move this m...
A Good Friday but a crunch week for Europe
17 Jul 2022
Contributed by Lukas
Monday 18th July 2022US equities rallied on Friday as data releases showed some resilience in the economy, but is it enough to stave off recession? Pr...
Aussies Take Up Jobs as Draghi Tries to Quit
14 Jul 2022
Contributed by Lukas
Friday 15th July 2022In a week of surprises (US CPI and labour market data, Canada’s interest rate rise, China’s lockdowns and the US$-Euro parity...
US Inflation rises and surprises, everything is in play
13 Jul 2022
Contributed by Lukas
Thursday 14th July 2022US inflation has picked up more than expected, rising 9.1% in the year to June. The Fed’s Raphael Bostic said later that “e...
Freaking out over inflation
12 Jul 2022
Contributed by Lukas
Wednesday 13th July 2022There’s no let-up when it comes to the downward expectations around the health of the global economy. US bond yields inverte...
China flares up, Putin flexes more, US Dollar pushes higher
11 Jul 2022
Contributed by Lukas
Tuesday 12th July 2022There’s a more cautious tone in the markets today, with US equities falling, bond prices rising, and the US dollar continuing ...
Healthy jobs data bad news for the economy
10 Jul 2022
Contributed by Lukas
Monday 11th July 2022It is a bit weird that positive US jobs data would be seen as heightening the expectations of a recession, but that seems to be t...
A glimmer of hope, except for Boris
07 Jul 2022
Contributed by Lukas
Friday 8th July 2022There have been slightly less recession concerns in the US overnight, with equities and commodity prices pushing higher and 10 yea...
Significant risk, still?
06 Jul 2022
Contributed by Lukas
Thursday 7th July 2022The FOMC minutes are out, pointing to significant risk if inflation isn’t nipped in the bud. Markets are taking this as a sign...
Oil Dives, Bonds Rally as Recession Fears grow
05 Jul 2022
Contributed by Lukas
Wednesday 6th July 2022The Euro is getting closer to parity with the US dollar. In today’s podcast NAB’s Skye Masters points out that the Markets ...
Australia, faring better than most, but big hike still expected
04 Jul 2022
Contributed by Lukas
Tuesday 5th July 2022The RBA meets today and the NAB expectation is that they will lift interest rates by 50 basis points. Phil asks NAB’s Tapas Str...
Independence Day: Recession Resurgence
03 Jul 2022
Contributed by Lukas
Monday 4th July 2022Recessions fears continue to rise, pushing bond yields lower. As NAB’s Rodrigo Catril explains, the ISM manufacturing report in ...
And back to recession fears
30 Jun 2022
Contributed by Lukas
Friday 1st July 2022Yields are lower in the US and Europe as recession fears grow, prompted by weaker than expected personal spending in the US, with ...
Understanding how little we understand
29 Jun 2022
Contributed by Lukas
Thursday 30th June 2022Markets are confused as to where the global economy is heading. If investors were looking to the ECB Forum in Sintra for clarif...
Less US confidence, tough talking ECB
28 Jun 2022
Contributed by Lukas
Wednesday 29th June 2022US equities switched direction overnight. NAB’s Taylor Nugent says it was a swift response to a weaker than expected consume...
Heading for a choppy end to Q2
27 Jun 2022
Contributed by Lukas
Tuesday 28th June 2022The volatility of the past few months means there is likely to be a greater need for rebalancing at the end of the quarter this ...
Is bad news good news these days?
26 Jun 2022
Contributed by Lukas
Monday 27th June 2022These are strange times. Market sentiment improved at the end of last week because of weaker consumer sentiment and a downward re...
Unconditional commitment, come what may
23 Jun 2022
Contributed by Lukas
Friday 24th June 2022There have been big movements in bond yields overnight. NAB’s Ken Crompton says there’s been a reaction to weak PMI data from...
Markets split as Powell admits recession is possible
22 Jun 2022
Contributed by Lukas
Thursday 23rd June 2022You take whatever you want from a senate hearing, so there have been mixed reviews of Jerome Powell’s performance in front of...
Brighter days ahead
21 Jun 2022
Contributed by Lukas
Wednesday 22nd June 2022We’ve just had the longest night of the year in Australia but the markets are focused on the light at the end of the tunnel!...
Is the RBA preparing to go harder?
20 Jun 2022
Contributed by Lukas
Tuesday 21st June 2022RBA Governor Philip Lowe is talking at an American Chamber of Commerce event this morning in Sydney. Phil asks NAB’s Ray Attri...
Turning up the rhetoric
19 Jun 2022
Contributed by Lukas
Monday 20th June 2022It’s almost like there’s a race to turn up the rhetoric between central bank speakers, signalling to markets that rates will ...
Markets go cuckoo as the Swiss clock a half percent hike
16 Jun 2022
Contributed by Lukas
Friday 17th June 2022The positive reaction to yesterday’s FOMC market was short lived, with a much softer US dollar this morning and big falls in eq...
A big step to the soft landing few believe will happen
15 Jun 2022
Contributed by Lukas
Thursday 16th June 2022The FOMC announced a 75-basis point rise in interest rates in the US, with rates rising to 3.4 percent by the end of the year. ...
The day before the dots
14 Jun 2022
Contributed by Lukas
Wednesday 15th June 2022The FOMC meeting tomorrow morning (Australian time) has been the focus of intense speculation this week, with the surprise inf...
Markets Panic after US inflation surprise
13 Jun 2022
Contributed by Lukas
Tuesday 14th June 2022There have been massive moves in financial markets since the release of the US inflation data on Friday. The US dollar is around...
ECB set to turn up the dial
09 Jun 2022
Contributed by Lukas
Friday 10th June 2022The ECB indicated overnight that they will lift rates at their July meeting, and if there’s no sign of a fall in inflation then...
Oil jumps, shares fall, inflation forecasts worsen
08 Jun 2022
Contributed by Lukas
Thursday 9th June 2022There’s not much optimism in the air this morning. The OECD almost doubled their inflation expectations and slashed their grow...
RBA, far from business as usual
07 Jun 2022
Contributed by Lukas
Wednesday 8th June 2022It was only a month ago that RBA governor Lowe was suggesting a 25 basis point hike was business as usual, with the bank wantin...
Rates jump, Boris’ near miss, RBA today
06 Jun 2022
Contributed by Lukas
Tuesday 7th June 2022There’s been lots of action on the markets overnight, with rates pushing higher and, for most of the session, equities on the r...
Get ready for RBA, ECB and US CPI
05 Jun 2022
Contributed by Lukas
Monday 6th June 2022It might be a quiet start to a busy week, with the RBA and ECB meeting, and the US releases its CPI numbers at the end of the week...
More oil, weaker jobs growth. Equities live on hope.
02 Jun 2022
Contributed by Lukas
Friday 3rdJune 2022Today saw another session demonstrating the violent swings across all asset classes. Equities, that were well down yesterday, are w...
Rates boosted as strong data support aggressive Fed hikes
01 Jun 2022
Contributed by Lukas
Thursday 2nd June 2022If investors were looking for signs of weakness in the US economy, in the hope that it might moderate the expectations for a rap...
EU sanctions, more in the pipeline?
31 May 2022
Contributed by Lukas
Wednesday 1st June 2022The EU has agreed to an immediate ban on oil exported by sea from Russia, with a further ban on EU and UK insurance of Russian ...
German inflation concerns, but equity markets refuse to freak out
30 May 2022
Contributed by Lukas
Tuesday 31st May 2022There isn’t much in the way of good news today, but that doesn’t seem to matter as far as equity markets are concerned. Germa...
A piggy bank backed recovery
29 May 2022
Contributed by Lukas
Monday 30th May 2022Markets seem to be optimistic that the inflation wave can be ridden without us all crashing down on a rocky outcrop somewhere. So,...
Equities and bonds markets divided
26 May 2022
Contributed by Lukas
Friday 27th May 2022US equities rose sharply again today as more retailers gave positive outlooks, despite the earlier surprise form Walmart and Targe...
Markets accept rate hikes if they tame inflation
25 May 2022
Contributed by Lukas
Thursday 26th May 2022The increasing belief amongst central bankers – particularly in New Zealand and the US – is that faster rate hikes will have...
Markets Snap Out of It
24 May 2022
Contributed by Lukas
Wednesday 25th May 2022Yesterday’s upbeat sentiment was very short-lived, with a sharp fall in equities and bond yields today. A statement from Snap...
Hope springs eternal, well, for today anyway
23 May 2022
Contributed by Lukas
Tuesday 24th May 2022A bounce back in equities and a better-than-expected IFO read from Germany. For today at least we’re seeing the return of some ...
New Australian government, same global concerns
22 May 2022
Contributed by Lukas
Monday 23rd May 2022Will a new government have any market impact? NAB’s Skye Masters has been looking at how markets behaved, relatively speaking, i...
Who can slow down the slowdown?
19 May 2022
Contributed by Lukas
Friday 20th May 2022There was no bounce in equities today after the big falls we saw yesterday. NAB’s Taylor Nugent says its growing concerns about ...
Equities bomb as investors are reminded of inflation
18 May 2022
Contributed by Lukas
Thursday 19th May 2022We’ve seen big falls in US shares as major retailers issue profit warnings, based on inflation and supply chain worries. Inves...
China reopening, Americans shopping, Brits working
17 May 2022
Contributed by Lukas
Wednesday 18th May 2022Equity markets have rallied today, buoyed by positive retail numbers for the US. But NAB’s Rodrigo Catril says the sentiment ...
Markets tossed back and forth in a sea of uncertainty
16 May 2022
Contributed by Lukas
Tuesday 17th May 2022There’s been a fair bit of volatility in equity and bond markets overnight. Stocks are generally down after swings back and for...
One day when fears eased, for a bit
15 May 2022
Contributed by Lukas
Monday 16th May 2022There was a slight reversal in sentiment on Friday, with the US dollar losing ground, equities climbing and bond yields rising. NA...
A world of worry
12 May 2022
Contributed by Lukas
Friday 13th May 2022US equities continue to take a hit as inflation concerns continue and two of the biggest contributors – the war and China lockdo...
US inflation numbers hit shares, bond markets more restrained
11 May 2022
Contributed by Lukas
Thursday 12th May 2022US inflation numbers didn’t fall as much as hoped, in fact the core number is up, making the job for the Fed that little but h...
A momentary lapse of reason
10 May 2022
Contributed by Lukas
Wednesday 11th May 2022For a while today US shares were pushing higher, with tech stocks leading the way. Then as market close neared, prices started ...