NAB Morning Call
1,640 episodes - English - Latest episode: 4 days ago - ★★★★★ - 8 ratingsStart 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.
Homepage Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Episodes
Weekend Edition: Investing on the Road to Net Zero – Why Aren’t We Leading?
July 19, 2024 04:00 - 23 minutes - 32.2 MBFriday 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. Why Not? Phil puts the question to Rochel Hoffman, who leads Deloitte Australia’s ESG M&A practice. Despite having many rare earth mineral resour...
Are equity markets looking more at a downturn than rate cuts?
July 18, 2024 20:45 - 16 minutes - 22.9 MBFriday 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 could be happening more slowly in Europe, with some in the ECB indicating that there might be only one more cut this year. NAB’s Ken Crompton re...
Pre-Trump Trade Battles and Currency Fears
July 17, 2024 20:44 - 17 minutes - 24.6 MBThursday 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, meanwhile, have reacted to comments from Donald Trump, who said he’s like to see a weaker US dollar, to compete against the weak Yen and Yuan. Today...
US retail runs hot and inflation day for many
July 16, 2024 20:41 - 17 minutes - 24.3 MBWednesday 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 another strong session for the Russell 2000. Today the focus is on CPI. We’ve just had it for Canada, who seem to have it under control, and later w...
Powell eyes labour market, equity markets eye Trump friendly stocks
July 15, 2024 20:39 - 16 minutes - 22.1 MBTuesday 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. NAB’s S kye Masters gives Phil her take-outs from Jerome Powell's interview at the Economic Club of Washington, D.C. and another session seeing ...
Is Trump now a shoo-in for the Presidency?
July 14, 2024 20:00 - 15 minutes - 21.8 MBMonday 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 Republican win. So, will we see much market impact as markets re-open today? Markets on Friday were driven by a hjgher than expected PPI read, at...
Weekend Edition - 75 percent: The New Normal for Office Workers?
July 12, 2024 04:00 - 25 minutes - 35.6 MBFriday 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 analyst Evy Noble says this is also reflected in occupancy levels, although there is a large variation from one capital city to another. Phil ask...
A quick response to slower inflation.
July 11, 2024 20:29 - 17 minutes - 23.9 MBFriday 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. Rotation is the key word for the day. The other word is Yen, which fell 1.8 percent on the CPI news. NAB’s Ray Attrill says there’s clearly been ...
Where are the Descendants?
July 10, 2024 19:35 - 15 minutes - 21.5 MBThursday 11th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB The drive for Joe Biden to step aside continues to dominate the news cycle in America, with actor George Clooney, who held a fundraiser for the President only a month ago, now calling for him to step aside for someone younger. Incidentally, how many Clooney movies can you spot in today’s introduction? Meanwhile, markets are more focused on what Jerome Powell has been sayi...
Powell says labour market is no longer an inflationary pressure
July 09, 2024 20:32 - 16 minutes - 22.9 MBWednesday 10th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Jerome Powell has been speaking to the US congress and says the labour market is no longer an inflationary pressure. So, what does that mean for the timing of rate cuts? NAB’s Skye Masters says there hasn’t been too much change in expectations, with a September cut seen as most likely. With a light calendar today, a lot of the focus will be on the US ten year note auction...
Where now for Europe?
July 08, 2024 20:06 - 17 minutes - 24.8 MBTuesday 9th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB It’s been a lacklustre day for markets. Equities have moved a little ahead of earnings season which kicks off in earnest later in the week. NAB’s Gavin Friend joins Phil to talk about the new French government, which will take some time to form. Will it be one of such compromise that nothing will be achieved? But is it symptomatic of Europe’s future. German trade data showed...
No right turn in Paris
July 07, 2024 20:27 - 15 minutes - 20.9 MBMonday 8th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB France looks like it won’t be veering sharply to the right after a. The exit poll out this morning has Marine Le Pen’s party in third place, so it looks likely the country is heading for a hung parliament. Phil talks to NAB’s Tapas Strickland about how the markets will respond. There was plenty of reaction to the non-farm payrolls number on Friday. The headline number suggest...
Weekend Edition: More on Australia’s House Price Quandary
July 05, 2024 04:00 - 20 minutes - 28.8 MBFriday 6th 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. In June, according to PropTrack, Australia’s home prices hit new highs, rising for the 18th consecutive month. But, as Eleanor Creagh, senior economist at PropTrack explains, the growth is far from even. There are some cities where prices are falling. So, what are the factors driving prices up? And how can it be that prices have ris...
Election Fever
July 04, 2024 20:31 - 19 minutes - 26.5 MBFriday 5th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB There are three big political stories today. First, the French election round two could still deliver a majority for Marine LePen’s party. But NAB’s Gavin Friend says markets are not viewing that as such an alarming outcome, saying there’s been a bit of a learning curve about what this new party could do. The UK is likely to face a change of government today, which could brin...
Weaker Services data pushes equities higher and bond yields lower
July 03, 2024 20:14 - 11 minutes - 16.1 MBThursday 4th July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB The S&P hit new highs as bond yields fell overnight. Markets clearly thought the latest ISM Services number, which came in surprisingly weak, is just the sort of slowdown indicator that will encourage the Fed to act sooner rather than later. JBWere’s Sally Auld talks through the numbers, the market reaction, and the diverse attitudes of Fed members displayed in the latest F...
What did Powell say to spur on US equity markets?
July 02, 2024 20:41 - 14 minutes - 20.7 MBWednesday 3rd July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB US shares rallied late in the session, on the back of comments from Jerome Powell. So what did he say? That’s the first question Phil puts to NAB’s Rodrigo Catril on this morning’s podcast. Meanwhile, Europe's inflation barely moved and unemployment is sticking close to where its been for more than a year. There’s fresh concerns about the French election at the weekend too...
Yields push higher still, France’s political concerns ease, one more reason for BoJ to lift rates
July 01, 2024 20:31 - 13 minutes - 18.4 MBTuesday 2nd July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Treasury yields continue to rise. NAB’s Syke Masters says here are a range of factors at play ,but one is the seeming lack of concern on both sides of politics to address the US government’s rising deficit. In Europe concerns about a National Rally majority eased as almost 170 candidates withdrew from the second round election to avoid diluting opposition. A higher-than-expe...
A pinch and a punch, and a win for LePen
June 30, 2024 20:22 - 15 minutes - 21 MBMonday 1st July 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB It’s the first day of the third quarter. The unsurprising news from French exit-polls this morning shows a clear win for Le Pen’s National Rally party, securing a third of the votes. NAB’s Taylor Nugent says markets have already priced-in the outcome and there’s been very little movement in early trade. Markets responded a little more to Biden’s shaky debate performance on Fr...
Weekend Edition: The Art and Science of Fixed Income. Without the straight lines.
June 28, 2024 04:00 - 22 minutes - 31 MBFriday 28th June 2024 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. Could central banks push their timing back even further? Emma Lawson says we can’t ignore how economies are slowing, so there’s every chance that market pricing for cuts could move forward. It’s never a straight line, the fixed income strategist at Janus Henderson says. Does that mean we have to put aside the hope of a soft landin...
US Core PCE deflator. Why you need to look at the second decimal place.
June 27, 2024 20:31 - 17 minutes - 23.9 MBFriday 28th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB There wasn’t a lot of data of significance around overnight, but the combination of a range of weak data prints fuelled some hope that the fed will cut sooner than markets had been moved towards. NAB’s Ray Attrill says a slight overnight rally on Australian bonds was likely to be a response to what the RBA’s Andrew Hauser has been saying, suggesting a partial CPI print for o...
Australia’s inflationary shock and what it changes
June 26, 2024 20:26 - 15 minutes - 21.4 MBThursday 27th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Yesterday’s inflation number for Australia was a big surprise, pushing up yields, particularly at the front end, and pushing back expectations for cuts by the RBA. Some commentators – not NAB – are arguing this reinforces the case for a rate rise. But NAB’s Ken Crompton says travel was a largely responsible for the rise. He also talks about speculation from the RBA’s Chris...
Canada’s turn for an upside inflation surprise
June 25, 2024 20:26 - 15 minutes - 21.7 MBWednesday 26th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Canada’s inflation came in hotter than expected in May and that’s pushed up Canadian bond yields overnight, but there’s been limited reaction to that – or anything really – on currency markets. NAB’s Taylor Nugent says the print has pushed back expectations for the Bank of Canada to cut again in July. What happens next depends on the data. We get more Australian data toda...
NVIDIA’s correction, the Yen’s fall and the US-Europe divide
June 24, 2024 20:41 - 15 minutes - 21.4 MBTuesday 25th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB There are three broad themes on today’s podcast. First, a missed day on US equities again, with falls in the S&P and NASDAQ. NVIDIA shares are well down, but even a minor correction is only a deny in their upward trajectory this year. There’s also the divide between the European and US economies, evidenced by last weeks PMIs. But is the difference really that great. NAB’s R...
Europeans PMIs sluggish, US stronger
June 23, 2024 20:25 - 14 minutes - 19.4 MBMonday 24th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB PMIs on Friday continued to show the dichotomy between Europe and the US. Even within Europe we saw clear evidence of the weakness within Germany. Phil asks NAB’s Tapas Strickland what these latest PMI numbers mean for central banks. Could the strong US print delay the Fed into next year, whilst providing the reasoning for the ECB to perhaps move a little faster? It all depe...
Weekend Edition: France’s shift right – a challenge for Europe?
June 21, 2024 04:00 - 21 minutes - 30.2 MBFriday 21st June 2024 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. Markets reacted rather swiftly to the news that President Macron had called a snap election for France, just after his own party had been heavily beaten in the European elections by Marine Le Pen’s Front National. This week Phil talks to Anne Bucher, from Bruegel, an independent European economic think tank. Anne is a former Dire...
A Swiss Lead in the Central Bank Euros
June 20, 2024 20:32 - 16 minutes - 22.9 MBFriday 21st June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Europe is in the midst of the group rounds of the Euros, but when it comes to central bank cuts Switzerland is already the champion, with Britain the favourite to cut next. JBWere’s Sally Auld talks through yesterday’s decisions by the Bank of England, the Swiss National Bank and the Norge’s Bank. In the US markets seemed unfazed by Neel Kashkari’s claims that hitting the Fe...
UK on target, markets take aim at France
June 19, 2024 20:38 - 14 minutes - 19.7 MBThursday 20th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB The UK, which has seen inflation rise to one of the highest levels, is also one of the first to get it down to target, with the headline rate down at 2% yesterday. Even so, the Bank of England won’t cut rates when they meet today, although perhaps three members of the panel might call for it. Het markets are now fully pricing the first cut at the back end of the year. NAB ...
Hawkish RBA, NVIDIA number one
June 18, 2024 20:33 - 16 minutes - 23.2 MBWednesday 19th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB The most valuable company in the world is not Apple or Microsoft. It's NVIDIA. Can anyone stop them? Meanwhile, the RBA kept rates on hold but in a way that was more hawkish that expected. NAB’s Rodrigo Catril says the committee even discussed the potential for rate hikes. NAB still expects a cut in November, nonetheless. In the US retail sales were weaker whilst governme...
France settles down, US equities hit new highs again
June 17, 2024 20:30 - 15 minutes - 22.1 MBTuesday 18th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB French politics still has a long way to run, but markets have calmed down a bit on the hope that a LePen government might not be so radical. NAB’s Taylor Nugent says ECB chief economist calmed markets by suggesting there was nothing disorderly in bond markets that would see the need for the central bank to intervene. It’s going to be an uneventful RBA meeting today, with ra...
A week big on banks and politics
June 16, 2024 20:01 - 14 minutes - 19.4 MBMonday 17th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Last week was dominated by two big stories. First ,the dichotomy between US inflation data and the downgrade of rate cuts predicted by the Fed. Secondly, the snap French election , which could turn about to be very bad news for President Macron. NAB’s Ray Attrill talks through the market reaction to both by the end of the week, along with a sprinkling of data from Friday, th...
Weekend Edition: Private credit markets – what to know
June 14, 2024 04:00 - 22 minutes - 31.7 MBFriday 14th June 2024 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. There’s been growing interest in private credit markets lately. So, what exactly is it? Phil talks to Gillian Gordon, Head of Alternative Investments and Responsible Investing at JB Were, who says it’s basically non-bank lending. So why would businesses choose to borrow directly from investors rather than issuing bonds, and what’s ...
One dot already beaten by the data
June 13, 2024 20:31 - 16 minutes - 23.2 MBFriday 14th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB You might have expected that bond yields would start creeping back up again after the Fed’s hawkish ‘one dot plot’ meeting yesterday. Instead yields fell, as the latest producer prices echoed the softness in the CPI read before the Fed. JBWere’s Sally Auld says it feels like price pressures, after a hot start to the year, are starting to cool a bit. So, does that mean the Fe...
Just one dot, even as US inflation dips
June 12, 2024 20:41 - 15 minutes - 22 MBThursday 13th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB It's been a fascinating session overnight. Early Wednesday US markets responded positively to weaker CPI numbers. Bond yields fell sharply, alongside a dip in the US dollar and more enthusiasm for equities. There must have been an expectation that the numbers would be reflected in a more dovish approach by the Fed, but the dot plot from FOMC members told a very different s...
Fed versus the iPhone
June 11, 2024 20:29 - 16 minutes - 23.4 MBWednesday 12th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB A mixed set of numbers overnight. The UK’s employment numbers showed wage pressures remain, whilst the NAB business survey also demonstrated inflation stickiness. NAB’s Ray Attrill says wages are a lagging indicator, and you can’t jump to conclusions that any of these numbers will change the central banks’ current trajectory. The path of cuts expected by the Fed becomes c...
US jobs hot, Macron snaps
June 10, 2024 20:26 - 15 minutes - 20.9 MBTuesday 11th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Non-farm payrolls came in a lot higher than expected in the US on Friday. Not only were there more people in jobs, but wages are also rising faster than expected. Phil asks NAB’s Taylor Nugent how uncomfortable this will be for the Fed and what it’s done to market expectations There will be a lot of focus on the FOMC meeting this week, with the dot plot telling us when the ...
Weekend Edition: Mookhey’s Balancing Act in Australia’s Most Unaffordable State
June 07, 2024 04:00 - 30 minutes - 41.8 MBFriday 7th June 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 18th June Daniel Mookhey, the NSW Treasurer, presents his second budget to the state parliament. This week he talks to Phil about the challenges he faces, starting with house prices. They continue to rise, despite repeated efforts by governments over the years to bring them under control. How much of it is down to supply and what...
ECB’s Hawkish Cut. Hardly a Surprise.
June 06, 2024 20:38 - 15 minutes - 22 MBFriday 7th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB The ECB cut interest rates as expected, but there’s no clear indication of when the next cut will come. NAB’s Gavin Friend says staff forecasts have pushed inflation higher. Hence, a hawkish cut. So much so, you wonder whether they would have carried through if it hadn’t been so clearly signalled beforehand. Now the focus is on the US labour market and what it means for the F...
Let the easing begin
June 05, 2024 20:24 - 16 minutes - 22.5 MBThursday 6th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB US equities hit new highs today and bond yields continued to fall. The Bank of Canada cut rates overnight with indications there will be more to follow. They pipped the ECB to the post, with their cut expected later today. Equities and bonds have been buoyed by positive sentiment, helped by a surprisingly strong ISM Services number for the US, after a weaker ADP jobs report...
Cool Jobs, Majority Lost
June 04, 2024 20:40 - 14 minutes - 19.7 MBWednesday 5th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Bond markets continue their rally, with yields down again this morning. NAB’s Rodrigo Catril says it’s in part down to the JOLTS data in the US overnight, which showed job openings slowing. That’s pushed forward expectations for Fed rate cuts slightly. He also points to the election result in India, which saw the PM lose his majority, which could impact future growth and, ...
Slightly softer
June 03, 2024 20:30 - 13 minutes - 19.1 MBTuesday 4th June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Longer end yields pushed higher overnight. NAB’s Skye Masters says it was in part down to softer manufacturing data from the US, although there’s a chance markets have overreacted to what was a pretty mixed picture. For example, whilst the Manufacturing ISM fell, the Manufacturing PMI, for the same month, released at the same time, rose. Markets are hoping, though, that soft...
Europe’s sticky mess
June 02, 2024 20:43 - 16 minutes - 22.9 MBMonday 3rd June 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Europe’s core inflation number rose slightly on Friday. That won’t change the ECB’s bolted-on decision to cut rates this week, but the likelihood of more than one other cut this year is diminishing. NAB’s Tapas Strickland says Friday’s Core PCE Deflator number in the US was lower than last time, but if it had been 0.002% higher it would be the same as last time. Not enough to...
Weekend Edition: How could Trump change the Fed?
May 31, 2024 04:00 - 28 minutes - 38.9 MBFriday 31st May 2024 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. Assuming he stays out of prison, Donald Trump has an even chance of winning the next Presidency. What does that mean for the Fed? Trump has often argued for the need to keep interest rates low, so he’s probably not too happy with the higher for longer strategy being used to fight inflation right now. We also know he wants to challen...
Will the PCE Deflator pressure the Fed?
May 30, 2024 20:29 - 17 minutes - 24.7 MBFriday 31st May 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Inflation is taking a long time to come down, everywhere it seems. Europe reports its CPI today, but the numbers from Germany and Spain have already shown it’s taking longer than expected. NAB’s Gavin Friend talks about expectations around the Fed’s preferred inflation measure, the Core PCE Deflator, out later today. With Fed speakers doing their best to pus expectations furt...
Inflation woes
May 29, 2024 20:32 - 15 minutes - 20.9 MBThursday 30th May 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Australia’s monthly CPI reads are always to be treated cautiously. Nonetheless, the surprise rise in inflation did create a response on Asian markets, pushing Aussie yields higher. JBWere’s Sally Auld talks about how weaker bond demand in US 7-year note auction added to the bond sell-off. Australia wasn’t the only inflation surprise. German CPI also rose. The ECB is wedded ...
US bond appetite eases, consumer confidence lifts
May 28, 2024 20:19 - 14 minutes - 20.1 MBTuesday 28th May 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB There were two bond auctions in the US overnight – for 2 year and 5 year treasuries. Both saw weaker demand than expected. Phil asks NAB’s Ken Crompton if investors are weary of the size of bond supply this year. Meanwhile US consumer confidence rose more than expected. Yesterday we saw weaker retail numbers than expected, but part of that can be explained away by the timing...
Europe assuming ‘maximum optionality’
May 27, 2024 20:34 - 14 minutes - 20.1 MBTuesday 28th May 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB It’s been a quiet 24 hours with the UK and US on holiday, with the bond and equity markets closed in each place. But Europe was open for business, although the German IFO numbers offered little to get excited about – staying in the same place as last month. One ECB speaker said after the June rate cut, the central bank will retain ‘maximum optionality’ – central bank speak f...
Fanatical confusion
May 26, 2024 20:22 - 14 minutes - 20 MBMonday 27th May 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Friday was a quiet end to the week, but the NSDAQ still managed to touch a new high. Bond markets closed early in the US, though, in readiness for a long weekend, that will see a slow start to this week. NAB’s Taylor Nugent says trade was light so we can’t draw any definitive conclusions about too much. Even Nobel economist Paul Krugman is unsure where things are heading. He ...
Weekend Edition: Tech. Too big to ignore? Or too much of a good thing?
May 24, 2024 04:00 - 23 minutes - 32.1 MBFriday 18th May 2024 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. NVIDIA is now the third biggest listing in the US, with a market cap of 2.3 trillion dollars. Their earning results this week were an upside surprise for revenue, margins and forward guidance. So how far has the US tech growth story got to go? Phil talks to NABTrade’s Gemma Dale about the rise and rise of tech. Is it pulling investm...
Are strong PMIs pushing cuts back even further?
May 23, 2024 20:25 - 13 minutes - 18.5 MBFriday 24th May 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Stronger than expected PMIs in the US – for manufacturing and services – have pushed bond yields higher. Equities, which started the session strong on the back of the NVIDIA earnings, have also fallen sharply today as pricing for rate cuts by the Fed gets pushed back further. NAB’s Taylor Nugent says the data for the US does need to continue to soften for the Fed to deliver o...
End of rein for soaked Sunak , whilst NVIDIA storms ahead
May 22, 2024 20:30 - 18 minutes - 24.9 MBThursday 23rd May 2024 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB The UK Prime Minister stood out I the pouring rain to announce a July 4 election for the UK, months ahead of expectations. Perhaps he doesn’t think the economy will improve so he might as well go sooner. It comes on the same day as the latest UK CPI numbers, which didn’t fall as far as expected. Phil asks NAB’s Gavin Friend whether this could all push rate cuts out further....