Friday 29th May 2026

NAB Markets Research Disclaimer 

Financial Services Guide | Information on our services - NAB

NAB’s Rodrigo Catril joins Phil to discuss the latest reports that U.S. and Iranian negotiators have finalized a 60-day memorandum of understanding to extend the ceasefire and begin talks on Iran's nuclear program. This crucial step, which would see the Strait of Hormuz gradually reopen toll-free, now reportedly just needs a nod from the US President activate, but its obviously more complicated than that. This glimmer of diplomatic progress pushed Brent crude down below $94 a barrel, completely overshadowing a mixed bag of U.S. economic data. While the annual core PCE deflator held sticky at 3.3%, annualized Q1 GDP was revised down to 1.6% and corporate profits took a surprise 0.4% squeeze. Despite cooling growth and comments from the Fed's John Williams that policy could go either way, Wall Street brushed off the headwinds, sending the S&P 500 to a fresh all-time high.

Hosted on Acast. See acast.com/privacy for more information.