Tuesday 11th August 2020
Markets haven’t moved much overnight, mainly because there’s not been much in the way of data or geopolitics to offer any direction. The latest JOLTs (job openings) showed that there are 5.9 million jobs available, more than expected, but it didn’t give markets any kick. Meanwhile, there’s hope that a deal will be struck for stimulus in the US economy and that will negate President Trump’s executive order. NAB’s David de Garis suggests the President ultimately needs a deal to access the funds to provide the level of fiscal support beyond a few months. Oil prices have risen on the expectation that extra money will be available to boost consumption. China and the US have engaged in tit for tat measures, imposing sanctions on officials – the question is, will it interfere in a review of the phase one trade deal later in the week? Today the NAB Business Survey and weekly payrolls numbers will give an indication of how Australia is faring, in particular the relative strengths of each state.
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Will the NBN limit competition?
There’s little doubt that the NBN will reduce the number of internet service providers (ISPs) in Australia. Smaller ISPs will disappear as the need for local infrastructure will disappear and larger ISPs dominate. We saw it with the arrival of broadband, now it will happen again.
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New mobile code, old behaviours
An improved code for mobile premium services comes into force in June. Tighter controls in the industry are needed.
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The Brexit Vibe Is Positive
The will to get Brexit done could see the deal cross the line, says NAB’s Gavin Friend on today’s Morning Call. Plus, a look ahead to Australia’s employment data.
