NAB Morning Call
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. Hosted on Acast. See acast.com/privacy for more information.
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You're Fired (on!)
<p>Tuesday 21st April 2026</p><br><p>NAB Markets Research Disclaimer </p><p>Financial Services Guide | Information on our services - NAB</p><br><p>Geopolitical tensions are rising again, following a U.S. attack on an Iranian merchant vessel in the Gulf, which sent oil prices jumping 5–6% with Brent nearing $95 a barrel. While JD Vance leads a U.S. delegation to Islamabad for high-stakes peace talks, a question remains as to whether Tehran will participate. Kevin Warsh’s pre-prepared speech to the senate banking committee spoke of a continuance of monetary policy free from the control of government. NAB’s Ken Cro...
An open and shut case
<p>Monday 20th April 2026</p><br><p>NAB Markets Research Disclaimer </p><p>Financial Services Guide | Information on our services - NAB</p><br><p>There were strong risk-on moves on Friday on the news that the Hormuz Strait had reopened. Since then, Iran has fired on vessels, and the Straits have closed again. But new talks are on the horizon if, as NAB’s Sally Auld puts it, they show up. The ceasefire officially ends Wednesday but markets aren’t pricing for President Trump’s threat to take out all energy plants and bridges Sally talks about how central banks are v...
Weekend Edition: Phil Suttle on Blockades, AI booms and the end of efficiency
<p>Friday 17th April 2026</p><br><p>Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.</p><br><p>In this weekend edition of the NAB Morning Call, veteran macroeconomist Phil Suttle joins Phil Dobbie to dissect the "unbridled enthusiasm" of global markets as they seemingly look past a U.S. naval blockade and a precarious energy crisis to push the S&P 500 to new record highs. Suttle warns of a stark internal divergence within the U.S. economy, where a concentrated investment boom in AI...
Mixed Messages
<p>Friday 17th April 2026</p><br><p>NAB Markets Research Disclaimer </p><p>Financial Services Guide | Information on our services - NAB</p><br><p>There are mixed messages about where the war in Iran is heading. President Trump says a deal is close and that Iran has agreed to surrender its enriched uranium, whilst Arab and European leaders believe it could take six months to reach a deal, hence yesterday’s Beige Book suggested companies were pursuing a wait and see strategy, holding off on major investments. Yet the Philly Fed manufacturing index overnight surged to 26.7 and initial jobless clai...
Buying Time
<p>Thursday 16th April 2026</p><br><p>NAB Markets Research Disclaimer </p><p>Financial Services Guide | Information on our services - NAB</p><br><p>Sally Auld talks about how global markets appear to be "buying time" as investors increasingly price out the immediate threat of a wider Middle East conflict. Following news of an extended ceasefire and the resumption of peace talks, the S&P 500 hit a new record high, underpinned by a resilient U.S. economy and ongoing AI-driven tech momentum. While the naval blockade in the Strait of Hormuz remains a concern, there seems to be a sh...
Talk of Talks
<p>Tuesday 14th April 2026</p><br><p>NAB Markets Research Disclaimer </p><p>Financial Services Guide | Information on our services - NAB</p><br><p>The hope of more peace talks between the US and Iran provided a temporary reprieve, sending the NASDAQ higher and Brent crude down toward $95 a barrel. NAB’s Taylor Nugent joins Phil to discuss this and how the fragile situation is reflected in the latest NAB Business Survey, which saw a sharp fall in confidence and the IMF's updated global growth scenarios, which suggest the world economy is already tracking toward an "adverse" outcome due to s...
Stop the Boats
<p>Tuesday 14th April 2026</p><br><p>NAB Markets Research Disclaimer </p><p>Financial Services Guide | Information on our services - NAB</p><br><p>While you'd expect chaos, NAB’s Ray Attrill notes that markets actually moved towards the end of the session on a positive note, spurred on by President Trump’s claims that Iranian officials are reaching out to talk peace—even if we should take that with a healthy pinch of salt. He talks to Phil about the "yo-yo" effect on the Aussie dollar, which touched 71 US cents as sentiment shifted, and the continued volatility in oil, with...
Stalemate
<p>Monday 13th April 2026</p><br><p>NAB Markets Research Disclaimer </p><p>Financial Services Guide | Information on our services - NAB</p><br><p>NAB’s Ken Crompton joins Phil to discuss the "stalemate" in the Middle East after ceasefire talks in Islamabad ended without resolution. The breakdown has led to a further escalation, with President Trump announcing a U.S. naval blockade of the Strait of Hormuz while Iran warns that any military approach to the waterway will be considered a breach of the standing agreement. It’s ecpcted markets will show signs of reversal from last week's brief...
Weekend Edition: CEFC, NAB and the path to net-zero
<p>Friday 10th April 2026</p><br><p>Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.</p><br><p>Phil is joined by James Bentley (Director of Sustainable Finance at NAB) and Richard Lovell (Head of Debt Markets at CEFC) to discuss how current geopolitical instability and energy price volatility are accelerating the business case for net-zero technologies. The conversation highlights the strategic partnership between NAB and the Clean Energy Finance Corporation (CEFC), which provides significant interest rate discounts—up to 115 basis points for on-farm emissions re...
The Phantom Toll Booth
<p>Friday 10th April 2026</p><br><p>NAB Markets Research Disclaimer </p><p>Financial Services Guide | Information on our services - NAB</p><br><p>NAB’s Rodrigo Catril joins Phil to discuss the fragile and one-sided nature of the proposed ceasefire in the Middle East, which Rodrigo notes remains highly volatile as the Strait of Hormuz remains largely closed and Israel continues strikes in Lebanon. The conversation explores the "phantom" nature of the peace deal, with Iran demanding the right to continue enriching uranium and proposing a toll for passage through the Strait—conditions that remain far from any common...
