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.

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.

Topsy Turvey Response to a Good News Day

Very positive economic data out of the US and yet investors have been buying into bonds. Not the response you’d expect. NAB’s Ray Attrill has several reasons driving the behaviour. So what will be the response to more positive numbers,, this time out of China (including Q1 GDP) later today?

Earnings up, Aussie confidence on a roll, oil shoots higher

The strength in the Aussie, weakening of the US dollar and a rise in bond yields are all part of the reflation trade, back in earnest, says NAB’s David de Garis on today’s Morning Call podcast.

Vaccine slow down and inflation signs

US inflation is higher than expected. NAB’s Rodrigo Catril says it remains to be seen whether the Fed is right that its transitory. And a jab slow-down for Europe as the J&J vaccine is put on hold.

US CPI today; all jabs are not equal

All eyes will be on US CPI numbers today. The Fed has made it clear any rise is expected to be transitory, but NAB’s Ray Attrill says a higher surprise could see markets challenge that theory.

New highs, fast jabs and more inflation brush off

New highs in US equities again driven by vaccine optimism says NAB’s Tapas Strickland on today’s podcast, along with a consolidation in US bond yields (even though they rose on Friday)

Job confusion, yield consolidation, vaccine concerns

There’s a bit of consolidation occurring in the markets right now, says NAB’s Tapas Strickland, with a dearth of top tier data. Jerome Powell reiterated that sustained inflation is still a long way off, but the ANZ Business Survey for New Zealand perhaps tells a different story over there.

Markets Lacklustre, Unsurprising FOMC minutes

Very quiet markets overnight. NAB’s Gavin Friend considers that there might be a little rebalancing, with the realisation that, although Europe might be slower than the US to recover it will only be a matter of months. The destination will be the same.

Consolidating and vaccinating

Economies are recovering, particularly in the US, evidenced by the latest IMF forecasts. Yet markets are cautious today. NAB’s David de Garis wonders whether markets are listening to Jerome Powell when he reiterates that it’s a long road ahead.

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