NAB Morning Call

Friday 13th July 2018

President Trump has touched down in the historic setting of Blenheim Palace, birthday of his hero Winston Churchill. But he has to make do with Theresa May. Whilst he’s overseas, the stock market has rebounded from yesterday’s falls, whilst Brent Crude continues to fall. Phil Dobbie asks NAB’s Ray Attrill why equities have bounced back, particularly given the increasing number of experts warning of the damage tariffs will have on the US economy.

Friday 13th July 2018

President Trump has touched down in the historic setting of Blenheim Palace, birthday of his hero Winston Churchill. But he has to make do with Theresa May. Whilst he’s overseas, the stock market has rebounded from yesterday’s falls, whilst Brent Crude continues to fall. Phil Dobbie asks NAB’s Ray Attrill why equities have bounced back, particularly given the increasing number of experts warning of the damage tariffs will have on the US economy.

Thursday 12th July 2018

Just after we published yesterday’s podcast the US imposed extra tariffs on Chinese imports. They’ve also turned up the rhetoric at a WTO meeting today, suggesting things could go from bad to worse. Phil Dobbie asks NAB’s Gavin Friend about the market reaction now, it seems, the situation is getting serious. The President has also been baiting Europeans at the NATO Summit; will this add to global uncertainty? And the Brexit White Paper is out today –indications are that the EU is warming to the UK’s proposals.

Thursday 12th July 2018

Just after we published yesterday’s podcast the US imposed extra tariffs on Chinese imports. They’ve also turned up the rhetoric at a WTO meeting today, suggesting things could go from bad to worse. Phil Dobbie asks NAB’s Gavin Friend about the market reaction now, it seems, the situation is getting serious. The President has also been baiting Europeans at the NATO Summit; will this add to global uncertainty? And the Brexit White Paper is out today –indications are that the EU is warming to the UK’s proposals.

Wednesday 11th July 2018

Theresa May seems to have silenced her remaining critics and is on track to publish a white paper on her Brexit proposal. Phil Dobbie talks to NAB’s Tapas Strickland in London about where the next battle is to be fought in Brussels – will the EU accept the proposal, at least as a starting point. If only it could all be over as quickly as the World Cup. They also discuss positive UK data, softer European sentiment figures and circumstantial evidence of inflation picking up. Plus, analysis of the latest NAB Business Survey and discussion on whether the RBA should really be waiting to lift rates and the question of Australia’s rising short term funding costs.

Wednesday 11th July 2018

Theresa May seems to have silenced her remaining critics and is on track to publish a white paper on her Brexit proposal. Phil Dobbie talks to NAB’s Tapas Strickland in London about where the next battle is to be fought in Brussels – will the EU accept the proposal, at least as a starting point. If only it could all be over as quickly as the World Cup. They also discuss positive UK data, softer European sentiment figures and circumstantial evidence of inflation picking up. Plus, analysis of the latest NAB Business Survey and discussion on whether the RBA should really be waiting to lift rates and the question of Australia’s rising short term funding costs.

Tuesday 10th July 2018

The British PM’s Brexit proposal hasn’t gone down well with the hard-line Brexit Tories – three of which have resigned, including David Davis, the man charged with negotiating a deal. Phil Dobbie talks to NAB’s Rodrigo Catril about the latest chapter in the Brexit debacle and what it all means for the pound. Over the water Mario Draghi was in buoyant mood overnight and the absence of any bad news seems to have driven some positive sentiment in most places outside the British Isles, including Australia.

Tuesday 10th July 2018

The British PM’s Brexit proposal hasn’t gone down well with the hard-line Brexit Tories – three of which have resigned, including David Davis, the man charged with negotiating a deal. Phil Dobbie talks to NAB’s Rodrigo Catril about the latest chapter in the Brexit debacle and what it all means for the pound. Over the water Mario Draghi was in buoyant mood overnight and the absence of any bad news seems to have driven some positive sentiment in most places outside the British Isles, including Australia.

Monday 9th July 2018

Theresa May has presented her Brexit strategy with the full support of her cabinet, apparently. Phil Dobbie asks NAB’s Ray Attrill what impact it’ll have on the pound today and whether it will wash with the EU, who might see it as another “cake and eat it” proposal. They also look at why Friday’s non-farm payrolls had such a big impact on the US dollar. Plus, the trade war kicks off – and with Kim Jong Un unhappy with the latest round of talks. Could that see more risk-off sentiment or have the markets grown weary of the rhetoric?

Monday 9th July 2018

Theresa May has presented her Brexit strategy with the full support of her cabinet, apparently. Phil Dobbie asks NAB’s Ray Attrill what impact it’ll have on the pound today and whether it will wash with the EU, who might see it as another “cake and eat it” proposal. They also look at why Friday’s non-farm payrolls had such a big impact on the US dollar. Plus, the trade war kicks off – and with Kim Jong Un unhappy with the latest round of talks. Could that see more risk-off sentiment or have the markets grown weary of the rhetoric?