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.

The price of supply chain disruption

Markets are optimistic given strong earnings and positive economic indicators, but NAB’s David de Garis so supply chain issues will push prices up temporarily. But how long is temporary?

Long ways to go, says Powell

Markets are optimistic given strong earnings and positive economic indicators, but NAB’s David de Garis so supply chain issues will push prices up temporarily. But how long is temporary?

Treading water, but inflation expectations are on the rise again

Inflation concerns are on the rise again says NAB’s Rodrigo Catril, as US Treasury yields step up again. Meanwhile, stellar earning results, like Alphabet, Microsoft and Tesla this week, don’t always result in higher share prices – has the market reached a peak for now?

Reflation reigns for now

The global reflation trade is back on track after a brief hiatus says NAB’s Gavin Friend. A 10 year high in copper demonstrates the demand, whilst rising iron ore prices are lifting the Aussie dollar.

Risk on, for how long?

PMI numbers on Friday showed a sharp rise in services says NAB’s Tapas Strickland. All eyes are on the speed of the rebound in Europe now, whilst equities race higher in the US. With all this good news will there be even a hint of a change in future direction from the Fed this week.

ECB avoids taper-talk, Biden’s rumoured tax grab

Reports of a capital gains hike has weighed on US equities, but NAB’s Gavin Friend says its been an opportunity for investors to consider the valuations of shares, particularly if the pace of recovery slows. Also, the ECB, not ready to talk tapering just yet.

Hawkish BoC boosts Canadian dollar

NAB’s David de Garis says the market was expecting the Bank of Canada to announce tapering of bond purchases, but the 2.5% increase in their growth forecast was a big surprise. Plus a look ahead to the ECB on today’s podcast.

Market cautious over speed of recovery

Wednesday 21st April 2021

There’s a cautious mood in the markets right now, with US stocks down, with smaller caps hit particularly hard. NAB’s Ray Attrill discusses whether this is all down to a revaluation of the speed of the economic recovery. Could the tightening of credit be responsible for this? It’s hard for businesses to recover without borrowing. There’s also discussion of yesterday’s RBA minutes and the expectations for Australia’s retail numbers out this morning.

Wall Street pulls back during a quiet session

Shares fall back off highs. NAB’s Tapas Strickland has a technical explanation in today’s podcast. Meanwhile Cable and the Euro doing well on the reopening story.

Bitcoin stalls, but US economy set to rip

The direction of US treasury yields will remain a theme this week, says NAB’s Rodrigo Catril, but as the economy recover we should expect them to climb higher. So why the fall last week. Listen in for more.

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