Markets are cautious ahead of the FOMC tomorrow, in part because of weaker retail numbers. But NAB’s Tapas Strickland finds a couple of positives out of those numbers.

This morning pre-FOMC positioning is the name of the game for bonds and currencies says NAB’s Ray Attrill on this morning’s Morning Call podcast. Plus, the rise of oil to two-year highs. How much further will it go?

Markets were unphased by higher-than-expected inflation in the US. NAB’s David de Garis says there’s more interest in next week’s FOMC meeting, after a couple of poor payroll reads.

The economy is based on the here and now. Whilst we complain about government debt being a cost to future generations, we don’t invest in future generations if it’ll compromise our current lifestyle. I ask @profstevbeken, is that any way to save the planet!

The fall in bond yields overnight is likely to be market positioning ahead of the US CPI numbers today, says NAB’s Tapas Strickland. There’s stil mixed views on where inflation is heading. China’s PPI’s rose sharply and the BoE Andy Haldane said this is a dangerous time for monetary policy.

Markets are calm, as US job openings boom. NAB’s Gavin Friend says there are much lower inflation expectations. Plus why the UK and EU are worried about sausages.