AUTHORS

David de Garis

David de Garis

Director and Senior Economist

“Dave writes for the Bank’s daily and weekly economics and market reports, and speaks with the media, often on a day to day basis speaking about the economy and financial markets”

Dave is a Director and Senior Economist with the NAB.

His bread and butter work is as a business, treasury or financial markets economist, speaking with clients ranging from the Bank’s agribusiness and corporate clients as well as to institutional clients at home and abroad.

He’s writes for the Bank’s daily and weekly economics and market reports, and speaks with the media, often on a day to day basis speaking about the economy and financial markets.

Dave did his economics apprenticeship with federal governments of various persuasions in Canberra, before he left Canberra in the late 1980s. He finished his indenture in Canberra as a senior economic adviser in the then Prime Minister Bob Hawke’s Department in Canberra, and before that in the Federal Treasury and the Bureau of Statistics.

RECENTLY PUBLISHED ARTICLES

In today’s Weekly, we take a closer look at the SA economy that’s shown a distinct improvement in the past year or so.

The ECB announced today, as anticipated, that their QE program will finish at the end of the year. But markets weren’t quite expecting the anticipated delay in raising rates – which could be late in 2019.

The markets have switched back to risk-on, helping the Aussie dollar rise faster than any of the majors this morning.

As concerns over Italy subside, for now, President Trump has upped the ante against the EU, Mexico and Canada, with tariffs from midnight on steel and aluminium.

Italian two year bond yields rose 190 basis points overnight. It’s the worst sell off in 26 years, with the distinct possibility that Italians will go back to vote as soon as July.

There wasn’t a strong response to the news that peace talks between the US and North Korea have broken down.

It’s been a quiet session overnight. Oil rallied as supply fears rose on Trump’s sanctions imposed on the country this week, but it has since retreated.

US ten-year treasuries were up eight basis points this morning, with the US dollar reaching a new high for the year so far.

The continuing rise in oil prices and rising bond yields in the US – where they have tipped the 3% yield mark again.

The S&P500 fell a lot in early trade, testing some technical levels before regaining most of the ground. The US dollar has also retreated.

US 10 year Treasury yields are very close to 3 percent this morning. As NAB’s David de Garis explains to Phil Dobbie its resulted in rising bond yields elsewhere, including Europe and Australia.

Inflation. Watch out, it’s coming.

Rising commodity prices, stalling inflation, a flattening curve and cautious Canadians

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