Tapas Strickland

Tapas Strickland

“Tapas is an Economist within Global Markets Research at the National Australia Bank (NAB). ”

Tapas is Director, Economics at NAB and provides commentary and insights for our clients on the economy and financial markets including regularly kicking off the working day with key overnight updates on NAB’s Morning Call podcast. Having recently spent the past couple of years in our London office, he continues to work with NAB’s diverse range of clients, from SMEs to institutions, both in Australia and abroad. Prior to NAB, Tapas spent six years at the Reserve Bank of Australia and also worked as an economic adviser in the Department of Prime Minister and Cabinet, advising the Gillard, Rudd and Abbott governments.


Markets are looking through the prospect on any unrest on inauguration day, but the more immediate question is what will the President do today?

An ensuing impeachment of the US President continues to be of little concern to the markets.

The inoculation program in the US has ambitious targets.

Even though a hard deadline has been set for Sunday for the UK-EU trade deal, there’s no guarantee it will all end there.

The UK has started injecting people with the COVID vaccine. If only they could inject compromise in the UK and EU negotiators who remain a long way from reaching a deal.

The prospect of a COVID-19 vaccine being deployed from mid-December (US/UK) is helping drive market expectations of a sharp cyclical rebound in 2021.

OPEC+ has struck a deal to slowly increase oil production from next month, rather than letting the production cuts fall off a cliff.

There’s a positive vibe about this morning, pushing equities higher and Treasury yields have seen a sharp rise too.

Treasurer Frydenberg today stated JobKeeper numbers have more than halved from a peak of 3.6m, to now just 1.5m as at 26 November.

The labour market has improved sharply over recent months with employment outside of Victoria almost back to pre-pandemic levels.

NAB has revised its forecasts for growth in the Australia economy.

The markets are more focused on the short-term economic hit of lockdowns than the longer-term vaccine fuelled positive outlook.

There was no new vaccine news overnight and the markets seemed a little disappointed by that, with equities down and a move to government bonds.

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