NAB Morning Call
Phil Dobbie
Start your day with the NAB Morning Call for the latest overnight key economic and market information straight from our team of expert market economists and strategists. This includes perspective on overnight news and market price action and the forces shaping movements in Australian and global markets in the days ahead.
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Categories: News & Politics
Listen to the last episode:
Friday 18th May 2024
Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.
There’s been a lot said about the Labor federal budget this week. One of the big questions is whether the energy subsidy alongside the tax cuts and rent assistance, will do enough to bring down inflation. In this Weekend Edition JB Were’s Sally Auld argues that, whilst we might see a reduction in headline inflation, the government’s fiscal expansion is at odds with the RBA’s monetary policy and it is likely to delay any moves down in interest rates. The extra government spending might be worthwhile if it can be shown to improve productivity, but its not clear how that will happen. There is recognition, however, that these are unusual times and the need for greater onshoring and a need for governments to fast track support for emerging sectors. But how?
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Previous episodes
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2378 - Weekend edition: A budget that sets fiscal policy against monetary policy Fri, 17 May 2024 - 0h
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2377 - Exuberance sees Dow pass 40k mark Thu, 16 May 2024 - 0h
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2376 - Do the inflation and retail numbers cement in two cuts for the Fed? Wed, 15 May 2024 - 0h
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2375 - Holding out for the hero stat Tue, 14 May 2024 - 0h
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2374 - Budget day: Helping or hindering the inflation battle? Mon, 13 May 2024 - 0h
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2373 - Warning signs on inflation persistence? Sun, 12 May 2024 - 0h
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2372 - Weekend Edition: Fixing Australia’s productivity problem Fri, 10 May 2024 - 0h
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2371 - BoE talks cuts, soonish. Market unphased. Thu, 09 May 2024 - 0h
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2370 - Data drought with no clear direction, ahead of BoE Wed, 08 May 2024 - 0h
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2369 - Is an RBA hike an emerging possibility? Tue, 07 May 2024 - 0h
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2368 - RBA gives it all, but is any of it new? Mon, 06 May 2024 - 0h
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2367 - US jobs cool and services soften Sun, 05 May 2024 - 0h
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2366 - The Weekend Edition - The fundamentals of the Magnificent Seven Fri, 03 May 2024 - 0h
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2365 - US productivity slips adding to labour costs Thu, 02 May 2024 - 0h
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2364 - Fed’s lack of progress Wed, 01 May 2024 - 0h
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2363 - Bond yields push higher, heavy losses in equities a day out from the Fed Tue, 30 Apr 2024 - 0h
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2362 - A sticky last mile for Europe Mon, 29 Apr 2024 - 0h
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2361 - Waiting longer as inflation persists Sun, 28 Apr 2024 - 0h
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2360 - Weekend Edition: Moving up the renewables value chain Fri, 26 Apr 2024 - 0h
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2359 - Stagflation anyone? Thu, 25 Apr 2024 - 0h
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2358 - PMIs show narrowing US-Europe gap, Inflation Day for Australia Tue, 23 Apr 2024 - 0h
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2357 - The Equities Strike Back (for now) Mon, 22 Apr 2024 - 0h
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2356 - Is there a tech correction going on? Sun, 21 Apr 2024 - 0h
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2355 - The Weekend Edition: Europe needs a confidence boost Fri, 19 Apr 2024 - 0h
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2354 - Next Fed move, backend of the year, unless it’s up! Thu, 18 Apr 2024 - 0h
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2353 - UK inflation slows, but not enough. Aussie employment numbers today. Wed, 17 Apr 2024 - 0h
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2352 - It’s taking longer, says Powell Tue, 16 Apr 2024 - 0h
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2351 - US retail moves markets, not the Middle East Mon, 15 Apr 2024 - 0h
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2350 - Drone attack. Will Israel retaliate? Sun, 14 Apr 2024 - 0h
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2349 - Weekend Edition: The "women with money" opportunity Fri, 12 Apr 2024 - 0h
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2348 - Europe is getting ready, without being triumphant Thu, 11 Apr 2024 - 0h
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2347 - US CPI surprise. The last mile just got longer Wed, 10 Apr 2024 - 0h
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2346 - Two central banks and lots of unhappy small businesses Tue, 09 Apr 2024 - 0h
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2345 - Treasury yields hit year highs on creeping doubts about Fed easing Mon, 08 Apr 2024 - 0h
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2344 - US payrolls too hot for the Fed? Sun, 07 Apr 2024 - 0h
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2343 - Weekend Edition: China’s future – on its terms Fri, 05 Apr 2024 - 0h
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2342 - Australia’s housing problem, US markets choppy ahead of jobs numbers Thu, 04 Apr 2024 - 0h
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2341 - Powell waits whilst service sector softens Wed, 03 Apr 2024 - 0h
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2340 - Yields rise over expected Fed delays Tue, 02 Apr 2024 - 0h
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2339 - Hopeful data suggests US is heading for ‘no landing’ Mon, 01 Apr 2024 - 0h
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2338 - Weekend Edition: Bronwyn Curtis on central banks and growth Thu, 28 Mar 2024 - 0h
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2337 - A scramble to the quarter end Wed, 27 Mar 2024 - 0h
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2336 - Break the glass and get ready for inflation numbers Tue, 26 Mar 2024 - 0h
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2335 - Controlling the Yuan and the Yen Mon, 25 Mar 2024 - 0h
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2334 - Easing hopes and a falling Yuan Sun, 24 Mar 2024 - 0h
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2333 - Weekend Edition: The Great Education Bounce Back Fri, 22 Mar 2024 - 0h
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2332 - Bad Apple, Swiss Surprise, English Hawks fly Thu, 21 Mar 2024 - 0h
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2331 - Fed feels its way slowly Wed, 20 Mar 2024 - 0h
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2330 - In the thick of it Tue, 19 Mar 2024 - 0h
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2329 - Aiming for zero Mon, 18 Mar 2024 - 0h