The Morning Call

Start your day with the Morning Call for the latest overnight key economic and market information straight from NAB’s team of expert market economists and strategists.

Have a little faith

Part of the fall in the Aussie dollar can be attributed to the weaker than expected jobs numbers yesterday, but NAB’s David de Garis says when you unpack the numbers there was plenty of ground for optimism.

Eye-popping inflation doesn’t faze the Fed

Inflation is hot, says NAB’s Gavin Friend, with a 30 year high for US CPI surprising many because it has been so broad. But it hasn’t fazed the Fed who still have an eye on jobs recovery before they raise rates.

Markets out of steam on inflation day

It’s not obvious why markets are more pessimistic today, but NAB’s Ray Attrill says it’s likely the Fed’s Financial Stability Report has some influence, with shades of Greenspan’s irrational exuberance speech.

Taking a breather

Bond yields have rebounded a little, but equity markets have stalled, despite a lot of positive news. We’ve been here before, says NAB’s Rodrigo Catril. It doesn’t mean equity markets have peaked.

Bond markets wrapped up in a ball of confusion

Despite a plethora of positive news, NAB’s Tapas Strickland says there’s still confusion in rates markets as central banks have wrong-footed investors with a switch to a more dovish outlook.

Bank of England Backs Down

A sharp reaction to the lack of a rate hike by the Bank of England. NAB’s Gavin Friend says the falls in yield are likely to return a little with the realisation that it is simply a question of timing. A December hike is still a possibility.

Tighter but taking time

Markets were prepared for the FOMC’s taper announcement, says NAB’s David de Garis, who takes us through the take-outs on today’s Morning Call podcast. Tonight, the Bank of England.

Central banks still grappling with what to do about inflation

Ahead of the FOMC, central banks are still grappling with what to do about inflation. The RBA is reluctant to talk about interest rate hikes anytime soon, but NAB’s Tapas Strickland says markets still think their inflation projections are too low.

RBA more uncertain than the cup winner

It’s easier to predict today’s Melbourne Cup winner than ha ve a clear idea of what the RBA will announce today, says NAB’s Ray Attrill on the latest Moring Call podcast.

Inflation, inflation, inflation. It’ll pass says ECB, again.

A sea of green for US equities, but again the volatility has been in bonds. The RBA failed to buy up three year Aussie bonds. NAB’s David de Garis says he doesn’t think this is a sign that they have given up on yield control. And the ECB still think inflation will pass.

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