NAB Morning Call

Monday 19th March 2018

G20 summits normally attract anti-capitalist protestors on the outside. As Phil Dobbie discusses with NAB’s Ray Attrill, this week we can expect the unrest to be on the inside, with Steven Mnuchin already firing the first salvo at the Chinese. They also look ahead to the FOMC meeting this week. And has the inflationary path in Europe just become a lot more gradual?

Monday 19th March 2018

G20 summits normally attract anti-capitalist protestors on the outside. As Phil Dobbie discusses with NAB’s Ray Attrill, this week we can expect the unrest to be on the inside, with Steven Mnuchin already firing the first salvo at the Chinese. They also look ahead to the FOMC meeting this week. And has the inflationary path in Europe just become a lot more gradual?

Friday March 16th 2018

The markets were relatively calm today, with light trading on equity markets. Phil Dobbie asks NAB’s Gavin Friend if we are in a Goldilocks environment right now, with just the right amount of growth and not too much inflation. Maybe, but not for long is the warning, as President Trump’s new economic advisor ratchets up the rhetoric against China. It might be a quiet end to the week, but Goldilocks could be in trouble.

Friday March 16th 2018

The markets were relatively calm today, with light trading on equity markets. Phil Dobbie asks NAB’s Gavin Friend if we are in a Goldilocks environment right now, with just the right amount of growth and not too much inflation. Maybe, but not for long is the warning, as President Trump’s new economic advisor ratchets up the rhetoric against China. It might be a quiet end to the week, but Goldilocks could be in trouble.

Thursday 15th March 2018

It seems highly likely that President Trump will be targeting China with a tariff package that could impact more than 100 products and impose restrictions on Chinese investment. Phil Dobbie talks to NAB’s Tapas Strickland about the market reaction to this, and to Theresa May’s announcement that 23 Russian diplomats will be sent packing in response to the Salisbury nerve agent attack. They also look at the weak retail sales results in the US and China, consumer confidence in Australia and today’s GDP figures for New Zealand.

Thursday 15th March 2018

It seems highly likely that President Trump will be targeting China with a tariff package that could impact more than 100 products and impose restrictions on Chinese investment. Phil Dobbie talks to NAB’s Tapas Strickland about the market reaction to this, and to Theresa May’s announcement that 23 Russian diplomats will be sent packing in response to the Salisbury nerve agent attack. They also look at the weak retail sales results in the US and China, consumer confidence in Australia and today’s GDP figures for New Zealand.

Wednesday 14th March 2018

Rex Tillerson was fired by a tweet this morning. Phil Dobbie talks to NAB’s Rodrigo Cattril about the market impact of a President following a “my way or the highway” agenda. We saw another example of his America First approach with his decision to block the acquisition of Qualcomm. Meanwhile, CPI figures overnight indicating inflation is not running away, whilst Canada’s central bank hints that there’s more slack in the labour market for prices are expected to rise. And the Spring Statement for the UK shows growth is going to be slow for some time yet.

Wednesday 14th March 2018

Rex Tillerson was fired by a tweet this morning. Phil Dobbie talks to NAB’s Rodrigo Cattril about the market impact of a President following a “my way or the highway” agenda. We saw another example of his America First approach with his decision to block the acquisition of Qualcomm. Meanwhile, CPI figures overnight indicating inflation is not running away, whilst Canada’s central bank hints that there’s more slack in the labour market for prices are expected to rise. And the Spring Statement for the UK shows growth is going to be slow for some time yet.

Tuesday 13th March 2018

The markets are waiting for today’s CPI figures from the US. Phil Dobbie asks NAB’s David de Garis whether they will influence speculation on the path of rate rises this year. They also discuss the latest on Trump’s tariffs, today’s NAB Business Survey, Hammond’s Spring Statement in the UK and the scandal brewing in Japan which is posing a threat to the Abe government.

Tuesday 13th March 2018

The markets are waiting for today’s CPI figures from the US. Phil Dobbie asks NAB’s David de Garis whether they will influence speculation on the path of rate rises this year. They also discuss the latest on Trump’s tariffs, today’s NAB Business Survey, Hammond’s Spring Statement in the UK and the scandal brewing in Japan which is posing a threat to the Abe government.