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.

Powell’s slow road, Biden plays it cool with China

Jerome Powell is not the only one talking down the speed of recovery. NAB’s Gavin Friend says the EU has downgraded its forecasts. And after a Biden-Xi phone call, don’t expect relations between the US and China to warm up in a hurry.

Markets bide their time, with soft US inflation and a Dovish Riksbank

The Riksbank Governor is more worried about taking the bowl away too early, than too late says NAB’s David de Garis. It seems Jerome Powell has echoed that message this morning.

China’s Credit Surprise Boosts Euro. Here’s why.

Chinese demand looks set to rise fuelled by credit, giving strength to those countries that export to them. As NAB’s Ray Attrill says, credit makes the world go round.

Yellen Denies Great inflation Expectations

The reflation trade continues unabated, but concerns of too much inflation remain a concern over Biden’s stimulus package. But NAB’s Tapas Strickland explains how it could bring the US recovery forward by three years.

Inflation debate over Biden’s stimulus as jobs growth disappoints

Disappointing jobs numbers from the US on Friday is positive news for Joe Biden’s stimulus package, says NAB’s Rodrigo Catril. But will $1.9 trillion of stimulus be inflationary?

US and UK blossom, as Euro struggles

Today’s moves reinforce the emerging story of two destinies, says NAB’s Gavin Friend on today’s morning Call. It’s the US and UK, versus a trailing Europe, driven largely by vaccine rollouts.

New Zealand, first out? Mario’s return. Oil at pandemic high.

Could New Zealand and Australia be any different right now? With NZ’s unemployment much lower, NAB’s Ray Attrill is asked whether the RBNZ might have to consider inflation sooner rather than later.

Philip Lowe set to explain the dovish RBA stance

Despite the improvements on the economy and fiscal position the RBA is maintaining its aggressive easing, says NAB’s Rodrigo Catril. He suggest why on today’s podcast, whilst we wait to hear from Philip Lowe later today.

Reddit Rebels shut out, US growth slows

Equity markets have been buoyed by trading platforms putting a stop on the stocks Reddit users have been pushing higher. NA’s David de Garis says it’s been a Main Street versus Wall Street battle.

Big falls in shares ahead of a dovish Fed

Not much new from the Fed says NAB’s Rodrigo Catril, as they wait to see the impact of vaccine rollouts. Vaccine delays meanwhile are hurting the Euro this morning.

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