Global markets were relatively stable overnight ahead of tonight’s key risk event of US CPI.
Markets Today – Be Alright
12 October 2023
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Markets Today – Hong Kong Garden
11 October 2023
Lower US bond yields and softer US dollar lift AUD back above 0.64
Markets Today – Mixed Signals
10 October 2023
Reaction to the Israel-Hamas conflict triggers a spike in energy prices while German Bunds lead a rally in European bonds with US Treasury futures also pointing to a decline in US Treasury yields. Not all the initial moves have been sustained. The USD is little changed, AUD is up, after being down with Fed speakers favouring holding rather than hiking rates, helping US equities rally while European shares fall.
Insights, Trends & Case Studies
Markets Today – Work It
9 October 2023
Stronger than expected payrolls data initially saw yields sharply higher, equities lower, and the USD stronger, though with the unemployment rate steady and earnings growth moderating, those moves were retraced.
Markets Today – Breathe
5 October 2023
The bond sell-off that dominated the early part of the week has been put on pause. Why? NAB’s Taylor Nugent says there are a number of factors, but it’s tomorrow’s non-farm payrolls that will really set the direction for early next week.
Markets Today – The Shock of the Lightning (JOLT)
4 October 2023
A better-than-expected US JOLT report provided rattled markets. US Treasuries led a rise in core global bond yields, equities traded lower and the USD was stronger. USD/JPY gapped lower ( official intervention?) and AUD was the notable underperformer.
Markets Today – Pour It Up
3 October 2023
The sell-off in global bonds continued with fresh cycle highs being set for longer-term yields. The
Markets Today – Rocket Man
22 September 2023
The BoE is the latest to put rates on hold. But are they done? JBWere’s Sally Auld says its not safe to assume it’s over for any central bank.
Taking the initiative with the transition
15 September 2023
Transition targets underpinned by science-based standards are helping to drive opportunities for issuers and investors globally as sustainable finance markets continue to evolve.
Markets Today – As high as it gets?
15 September 2023
Todays podcast ECB opts to hike, but taken as dovish with guidance read as a peak in rates Euro -0.8% and European yields are lower US Retail Sales data stronger in August, though offset by revisions AU Employment bounced in August Coming up: China Activity & MLF rate, NZ Manufacturing PMI, US UMich confidence […]
AMW – How weak is consumer spending?
14 September 2023
This week we delve into the latest national accounts figures on consumer spending to try to assess just how weak consumer spending is.
Markets Today – Snooze
14 September 2023
It was a subdued market reaction to the highly anticipated US CPI print.
Markets Today – I’ll Oil Wells Love You
13 September 2023
Ahead of US CPI tonight, oil prices have ratcheted higher as OPEC+ cuts continue to bite
Markets Today – Breathe
12 September 2023
Todays podcast Tesla leads gains within in US equities Core global yields tick higher USD broadly weaker with JPY and CNY the notable movers JPY gains following Ueda’s interview suggesting openness to policy move this year CNY gains on PBoC strong fix, push against speculators and better data AUD and NZD benefit from spill over […]
Markets Today – Nothing Gonna Break my Stride
8 September 2023
US equities manage a marginal gain on Friday, but lower over the week and yields edge higher.
Markets Today – Top of the World
6 September 2023
A rise in Services activity last month confirms the US economy still sits firmly on top of the world
AMW – Labour Markets – Progress on rebalancing labour markets in the US and Australia
6 September 2023
In this Weekly, we take stock of progress rebalancing labour markets in the US and Australia, finding significant progress has been made on a range of indicators even without a sizeable lift in unemployment rates
Markets Today – Constant Repeat
6 September 2023
A softer Caixin Services PMI soured the mood yesterday, with the USD broadly stronger and the AUD the worst G10 performer
Markets Today – Holiday
5 September 2023
It has been a quiet start to the week in Europe and the US with the latter out celebrating Labor Day. US equity futures closed little changed while US Treasury futures are pointing to some small upside pressure on yields.
Markets Today – The Best
4 September 2023
Neither the Fed nor President Biden could have scripted Friday’s US payrolls report any better had they tried
The AUD in August 2023
1 September 2023
The AUD have an ‘average’ August in terms of its monthly hi-lo range, albeit it fell to a near 10-month beneath 64 cents
Markets Today – ‘Aint No Mountain High Enough (or is there?)
1 September 2023
Overnight, the BoE’s Pill references ‘Matterhorn’ versus ‘Table Top Mountain’ approaches to monetary policy
Markets Today – Hot and Cold
31 August 2023
US equities extend their positive run to a fourth consecutive day with softer US economic data fuelling expectations of a Fed on hold over coming months. UST yields edged lower while European yields rose following stronger than expected German and Spanish inflation data releases. The USD lost ground against EU pairs while the AUD is little changed.
Markets Today – Cooling of the Embers
30 August 2023
Softer US consumer confidence and a JOLTs report suggesting ongoing rebalancing in the labour market saw the US dollar and US yields lower, while equities were higher.
AMW – What else occurred at Jackson Hole
29 August 2023
Powell affirmed the Fed will ‘keep at it’ on inflation, but what else happened at Jackson Hole? In the weekly, we pull out some of the key insights, including on the outlook for government debt and the ‘friendshoring’ dynamic.
Markets Today – Waltzing Matilda(s)
29 August 2023
Aussie retail sales were stronger than expected in July, but World Cup fever was a factor says NAB’s Ray Attrill
Markets Today – Play it Safe
28 August 2023
Fed Chair Powell’s speech at Jackson Hole did not break new ground. US equities closed the day in positive territory with both the S&P 500 and the NASDAQ recording their first positive week since July. The UST curve flatten with front end yields ticking higher while the USD closed a tad stronger.
Markets Today – Artificial Light
25 August 2023
Caution prevails in front of Jackson Hole; stocks down, bond yields back up, AUD back lower
Markets Today – Falling
24 August 2023
Yields were generally lower globally as PMI data came in softer than expectations, with deterioration most pronounced in German Services. The AUD was stronger, as were US equities, with tech leading once again ahead of much anticipated earnings from Nvidia.
Markets Today – Marking Time
23 August 2023
US equities traded in and out of positive territory, essentially marking time ahead of NVIDIA’s reporting tomorrow and Fed Chair Powell’s speech on Friday. It was also a quiet FX session while in rates 10y UST yields printed a fresh 16-year high before consolidating.
Markets Today – Back to the Grind
22 August 2023
US yields resumed their grind higher to start the new week, though there was little news to speak of, while US equities where higher.
Markets Today – I Got You Babe
21 August 2023
Yields lower on Friday, but still close to recent cycle highs
Markets Today – Doom Loop
18 August 2023
It’s been onwards and upwards for global bond yields overnight, and AUD has spent time below 64 cents
Markets Today – Still Watching, Still Worried
17 August 2023
Todays podcast FOMC Minutes show concern about upside risks to inflation US yields higher led by 5bp rise in 10yr Equities were lower, S&P500 -0.8% with declines late in the session Asia equities weighed by China concerns AUD -0.5% against a broadly stronger dollar at 0.6421 Coming up: AU Employment, NZ PPI, JN Machinery Orders, […]
AMW – US Inflation – Encouraging, but don’t extrapolate blindly to Australia
16 August 2023
Recent US CPI prints have shown good progress on disinflation. In this Weekly, we look at where those gains have occurred, and what to be careful of when drawing implications for Australia
Markets Today – The Good, the Bad and the Ugly
16 August 2023
A stark contrast Tuesday between strong US retail sales and very weak China data
Markets Today – When it rains it pours
15 August 2023
US equities started the new week on a positive note, notwithstanding a negative lead from Asia. Core global yields have continued their ascendancy while the USD is broadly stronger with negative China sentiment weighing on the AUD and NZD
Markets Today – I Ain’t Worried
11 August 2023
US Core CPI just 0.160% m/m and 3m annualised rate now 3.1%
Navigating carbon markets for net zero
10 August 2023
Carbon markets have a role to play in the transition to a net zero economy, especially when seeking to meet and beat Australia’s interim targets this decade.
Markets Today – Uncertain Smile
10 August 2023
Ahead of the July US CPI release tonight US equities closed on the back foot. Oil prices extend recent gains while LNG prices surge following news Australian workers vote to strike. Quiet night in FX land.
Markets Today – Sour Candy
9 August 2023
Risk appetite has been weighed over the past 24 hours by a trio of soft China data, a surprise ‘windfall’ tax on bank profits in Italy, and a downgrade of a number of small and mid-sized banks by Moody’s.
AMW – Some favourable signs for inflation in Australian capacity use figures but labour market still very tight
8 August 2023
We examine the aggregate and disaggregated measures of capacity utilisation in the NAB Business Surveys in greater detail in this week’s Australian Markets Weekly.
Markets Today – Holiday
8 August 2023
Northern hemisphere summer holidays and a lack of data has seen markets treading water ahead of US CPI figures on Thursday.
Markets Today – Soft Parade
7 August 2023
Bond sell-off reverses on softer US payrolls
NAB Markets Insights Series (Metro) – Post August 2023 RBA Cash Rate Target Announcement
4 August 2023
The RBA has continued to keep borrowers on their toes in deciding not to raise the official Cash Rate at the July meeting, leaving the target rate at 4.10%. In the statement of the meeting they noted “Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe”.
Markets Today – Schadenfreude
4 August 2023
BoE lifts Bank Rate by 25bps to 5.25% as expected, to limited market reaction. US payrolls tonight
Markets Today – Higher Ground
3 August 2023
Yields rise, US 10yr hits 4.12% before easing back to 4.08%, highest since Nov 2022
Markets Today – Pump It
2 August 2023
The US Treasury curve bear steepened following news the US government will increase its bond issuance by more than previously thought. US equities recorded small declines and the USD is stronger across the board with the AUD the notable underperformer, RBA on hold and underwhelming China data not helpful.
The AUD in July 2023
1 August 2023
US, China and local inflation news drove much of the AUD volatility in July
Markets Today – Sweet Dreams
1 August 2023
Markets were generally quiet to start to week ahead of key risk events later in the week (BoE Thursday, US ISM Services Thursday, US Payrolls Friday).
Markets Today – Big in Japan (or perhaps not)
31 July 2023
Friday’s BoJ announcements made a bigger initial impression on global bond markets than FX
Markets Today – Better than you
28 July 2023
Not much reaction to the ECB, says NAB’s David de Garis, but a big reaction in currencies and Treasurys to the latest US GDP numbers. With a lot of European data today and early next week, things could stay quite ‘whippy’.
AMW – US recession probabilities have fallen recently
27 July 2023
Calling a US recession has been a bit like “Waiting for Godot”, the title of the 1953 play by Samuel Beckett.
Markets Today – The Last Time (or not)
27 July 2023
The US FOMC hiked rates by 25bps to 5.25-5.50% as universally expected.
Markets Today – Devil Inside
26 July 2023
AUD approaches 0.68, buoyed by China stimulus news and RMB gains
Markets Today – Shivers
25 July 2023
Weak European PMIs have seen yields fall, though moves in US Treasuries retraced latter in the day.
Markets Today – Workin’ For A Livin’
21 July 2023
US yields higher with Jobless Claims lower than expected
Markets Today – You’re the Voice
19 July 2023
Central bankers globally seem to have switched to a more measured tone recently. Overnight tapas
Markets Today – Slower but far from slow
10 July 2023
Payrolls failed to deliver the upside surprise feared following strong data earlier in the week, seeing some pullback in the USD and short-end yields on Friday.
Markets Today – Maybe Next Time
5 July 2023
The RBA met yesterday and held rates steady. Other than that, it was a very quiet 24 hours characterised by thin trading alongside the US 4 July holiday.
Markets Today – Should I Stay or Should I Go
4 July 2023
A quiet night overnight given shortened pre-holiday trade in the US ahead of Independence Day today.
AMW – July RBA Board decision again likely to be a very close call
3 July 2023
This week we consider tomorrow’s RBA board meeting, but also US data releases that are likely to be more relevant for how the US economy and labour markets develop over the next 6-12 months.
The AUD in June 2023
3 July 2023
The AUD/USD price action in June was a story of two halves. Soft US data and a cash rate hike by the RBA helped propel the currency to an intra-month high of 69c, but then concerns over China’s growth outlook and better than expected US data releases weighed in the second half of the month.
Markets Today – One swallow does not a summer make
3 July 2023
Friday capped a risk positive end to the week and the month of June with softer US economic data releases treated as good news. Weaker US consumer spending and inflation boosted US equities with gains over 1%, US Treasury yields traded lower after the data release and the USD closed the week broadly weaker.
Markets Today – Don’t Stop Me Now
30 June 2023
The string of positive US data surprises continued overnight with a big drop in Jobless claims and a decent upward revision to Q1 GDP. US Treasuries led a jump in core global bond yields and US equities closed in the green, unperturbed by the move up in yields. Positive US data surprises help the USD reverse earlier losses, but the AUD/USD held its ground aided by yesterday’s stronger than expected retail sales figures.
Markets Today – I Knew You Were Trouble
29 June 2023
Fed, ECB, BoE heads reiterate hawkish views; BoJ reiterates dovish stance
Digital infrastructure sales unlock hidden value
28 June 2023
A series of NAB-led deals involving major telcos and private capital from infrastructure investors points the way to effectively monetising undervalued assets for growth.
Article
Markets Today – Better in the U.S.A.
28 June 2023
Better than expected US data releases and hawkish ECB talk are two main macro themes from the price actions overnight. US equities embraced the positive vibes from Asia and then better than expected US data releases provided an additional tail wind. In contrast, European equities were little changed with hawkish ECB talk dampening the mood. The belly of the curve led a rise in UST yields while the USD lost a bit of ground.
AMW – What assumptions to use for my 2023-24 budget?
27 June 2023
This week we examine some possible budget assumptions for Australian growth, inflation, wages, interest rates and the $A for 2023-24 as well as the context, thinking behind and risks to the forecasts
Markets Today – Against the Grain
27 June 2023
Quiet start to week with no market fall-out from weekend Russia news. Weaker Yuan a focus.
Markets Today – PMI Slowdown
26 June 2023
PMIs on Friday showed Eurozone output growth close to stalling, seeing Europe lead yields lower and the euro fall.
Markets Today – Fifty Fifty
23 June 2023
The BoE surprises market with 50bps, Norges Bank less so with its 50bps. SNB opts for a ‘hawkish' 25bps
Markets Today – No relief
22 June 2023
Powell added little new information in House testimony, but the US dollar was weaker and equities were lower. UK CPI data surprised higher ahead of the BoE later today
AMW – Population surges – don’t extrapolate too far
21 June 2023
Australia’s population growth has surged over the past year. The surprise has been how quickly it has rebounded after borders were re-opened from November 2021.
Markets Today – Weather With You
21 June 2023
Soft risk sentiment overall last night which was mostly China driven.
Markets Today – You Look Certain (I’m Not So Sure)
20 June 2023
European equity markets have started the new week on the back foot following a negative lead from Asia. Investors are seemingly disappointed by the lack of new news on China’s stimulus, US equities are closed for a holiday with futures contracts pointing to small dips for the S&P 500 and NASDAQ 100.
Markets Today – King of the World
19 June 2023
AUD ends a big if short local week at the top of the G10 currency pile, AUD/USD +2% w/w
Markets Today – Keep pushin’ on
16 June 2023
US equities have pushed on yet again, shrugging off a string of soft US data releases. The ECB hiked its deposit rate as expected, lifted its inflation forecast and delivered a hawkish guidance. Core European yields climb on the back ECB news with the euro gaining over 1% while soft US data triggers a decline in UST yields with the USD weaker across the board.
AMW – Making sense of the RBA’s productivity focus
15 June 2023
In today’s Weekly, we delve into Australia’s productivity and labour cost data given the RBA’s recent focus on these metrics, and explain why timely signals on the inflation outlook may be better found elsewhere.
Markets Today – Two of a Kind
15 June 2023
Fed pauses as expected but ‘dot plot’ adds two, not one, more rate rises to 2023
Markets Today – Soft enough to skip?
14 June 2023
US CPI was in line with expectations, adding to confidence the FOMC will skip at tomorrow’s meeting even as yields pushed higher. Strong UK labour market saw UK yields surge.
Markets Today – Sitting, Waiting, Wishing
13 June 2023
After closing modestly higher on Friday, US equities have started the new week with modest gains, led by big tech. 10y UK Gilts, up 10bps to 4.33%, are the notable movers within core global bond yields on the back of hawkish BoE talk. The USD is a tad higher with AUD retaining its upward trend that has been in place since the start of the month. Oil prices tumble on supply-demand dynamics and another downgrade by GS.
Markets Today – When Bad Does Good
9 June 2023
Jump in US jobless claims supports lowers US yields and US$; S&P500 back in bull market
Markets Today – My [Hikes] Will Go On
8 June 2023
The BoC shocked markets overnight, hiking by 25bps to 4.75%.
Levelling up corporate treasury in real time
7 June 2023
The growing wave of digital transformation in finance is helping solve today’s key corporate treasury challenges by leveraging the latest developments in data analytics, artificial intelligence and machine learning
AMW – Why rents are going up and when they will stop
7 June 2023
In our latest Weekly, Taylor Nugent explores the impact of pandemic swings in population and housing demand to explain the current acute rental market tightness and rapidly increasing rents, as well as when these pressure may ease
Markets Today – Consequences
7 June 2023
It has been a quiet 24 hours in markets with generally small market movements, while the Australian dollar held onto its gains following yesterday RBA rate hike, 0.8% higher against the US dollar.
Markets Today – Rebel Without a Pause?
6 June 2023
Markets go into today’s RBA decision ascribing a roughly 65% chance to a pause
Markets Today – Feelin’ Good
5 June 2023
A combination of a US debt ceiling resolution alongside a mixed US jobs report, still favouring a June Fed pause, and news that China may be considering further support to its beleaguered property sector boosted risk sentiment (VIX sub-15), major equity indices closed the week with solid gain.
Markets Today – Mr Brightside
2 June 2023
A positive night for risk sentiment with equities up (S&P500 +1.0%; Eurostoxx50 +0.9%), USD down (DXY -0.7%), and yields lower (US 10yr -3.8bps to 3.60% and 2yr -6.4bps to 4.34%).
The AUD in May 2023
1 June 2023
The AUD fell below 65 cents in May, in doing so re-establishing a more ‘normal’ monthly trading range after two months of highly compressed volatility.
Markets Today – Pause for Thought
1 June 2023
The AUD had fallen to a new post November 2022 following more disappointing China data
NAB Superannuation FX hedging survey set for launch
31 May 2023
NAB presents detailed insights into superannuation investment behaviours and trends in our comprehensive survey of Australian Superannuation Funds undertaken every two years and opening again for 2023.
AMW – Deep Dive – Examining progress rebalancing demand and supply in Australia
31 May 2023
The Markets Economics team looks at the progress rebalancing supply and demand in Australia and find that Australia is likely to lag the progress being made in the US on rents, energy and wages/services.
Markets Today – Mixed Signals
31 May 2023
After enjoying a long weekend, the US is back with mixed signals coming from equities and bond markets. US Treasuries have led a move lower in core global bond yields while the S&P 500 is unchanged. Oil prices fall over 4% with OPEC + meeting looming large, the USD is little changed, but AUD and NZD struggle, not helped by Yuan weakness.
Markets Today – Holiday
30 May 2023
Public Holidays in the US, UK and Germany made for a very quiet night as far as market moves are concerned.
Markets Today – Now That I Found You
29 May 2023
US equities were higher on Friday as hopes grew of a debt ceiling deal, ahead of news on the weekend that an agreement in principle had indeed been found. US data was strong and Fed tightening expectations firmed.
Markets Today – Diamond in the rough
26 May 2023
The US dollar extended its positive streak and yields globally were higher despite mixed economic data as AI-related tech saw US equites higher
Markets Today – The Price You Pay
25 May 2023
Still no sign of breakthrough on US debt ceiling talks, souring risk sentiment.
Markets Today – Tug of War
24 May 2023
The absence of a debt ceiling deal weighs on risk sentiment even as Biden calls talks ‘productive,’ while global PMIs reaffirm the stark divergence between services and goods.
AMW – Room for optimism, but wages may not be as benign as they seem
23 May 2023
In this Weekly, we delve into last week’s WPI data in more detail and discuss the risks to wages projections and the RBA's outlook
Markets Today – Sweet Dreams
23 May 2023
A quiet start to the week with little in the way of significant market moves.
AMW – Credit conditions & inflation, Fed and RBA implications
22 May 2023
In this Weekly we explore two key US themes we are tracking closely for the trajectory of rates and inflation, in both Australia and the US
Markets Today – Road to Nowhere
22 May 2023
US equities struggled for direction on Friday, ending the day marginally lower. After a choppy session, UST yields closed higher across the curve with the USD broadly weaker, ending a three-day winning streak. Debt impasse did not helping sentiment while Fed Chair Powell expressed a bias for pausing rate hikes in June.
Markets Today – High Hopes
19 May 2023
Hopes for a deal on the debt ceiling improved.
Markets Today – Ac-cent-tchu-ate the Positive
18 May 2023
Positive soundbites from Biden and McCarthy give hope a debt deal can be reached.
Markets Today – Far Away
17 May 2023
A flurry of global economic data but relatively modest market movements.
Markets Today – Waiting on the World to Change
16 May 2023
A quiet start to the week with little in the way of new news or top-tier data.
Markets Today – Comeback Kid
15 May 2023
Markets were spoked on Friday by an unexpected rise in US consumer inafltion expectations
Markets Today – Tough Medicine
12 May 2023
The Bank of England raised rates by 25bp as expected, while softer data out of China and the US weighed on risk sentiment
Markets Today – Moderation
11 May 2023
Markets are showing relief that the key US CPI release overnight was not higher than expected
Markets Today – Tread water
10 May 2023
Markets are treading water as we await the outcome from the Biden-McCarthy debt ceiling meeting and the US CPI data release tonight. US and EU equities have ended the day lower while core yields have edged a little bit higher. Fiscal updates revealed contrasting AU and NZ fortunes while cautiousness in the air has favoured the USD.
AMW – How sticky will Australian inflation be?
9 May 2023
The Australian budget Tuesday night is likely to feature a small surplus for the current financial year...
Markets Today – No imminent crunch
9 May 2023
US and EU equities have closed with modest gains while core yields extended Friday’s rise. The Fed Senior Loan Officer revealed a modest deterioration in lending standards alongside a drop in demand for loans, so no evidence of an imminent credit crunch. The USD is little changed with NZD leading a modest outperformance by pro-growth currencies.
Markets Today – Waiting for Godot
8 May 2023
Payrolls more than solid enough, challenging views of imminent rate cuts
AMW – Budget could be close to a surplus this year
5 May 2023
The federal budget has substantially improved over the past year to the extent that the 2022-23 Final Budget Outcome could be in surplus.
Markets Today – Dead Man’s Curve
5 May 2023
Latest US yield curve movements are giving an even stronger signal of imminent US recession
Markets Today – Could this be enough?
4 May 2023
US yields were lower and the dollar stronger with the FOMC increasing rates by 25bp as expected and dropping the expectation for further hikes.
Taking construction to the next level
3 May 2023
Kapitol Group shows how a culture of innovation and the right banking partnership has helped build a small construction start-up into a significant industry corporate in just five years.
Markets Today – Dance Monkey
3 May 2023
Big moves in markets overnight as US regional bank worries reignited, signs of catering in European loan demand, and a sharp fall in US job openings.
Markets Today – Resolution
2 May 2023
US yields are higher and the dollar stronger with little fallout from the failure of First Republic, being acquired by JP Morgan in an FDIC-supported deal.
The AUD in April 2023
1 May 2023
After reducing to just a 2.2 cents range in March, April’s AUD/USD range was little different – 2.3 cents
Markets Today – A lot to digest
1 May 2023
The last trading day of April had a lot to digest with BoJ policy decision alongside market moving data both in Europe and the US. Equities ended the month on a positive move, core yields drifted lower amid growth concerns while the USD was little changed. JPY was the big underperformer and AUD starts the new week at 0.6601.
Sustainable Finance Newsletter: April 2023
28 April 2023
A look at what’s been happening in the sustainable finance market in Australia and abroad.
Markets Today – Where’s North from Here?
28 April 2023
Softer US growth but stubbornly sticky prices has seen US yields higher, while US equities recorded their biggest gain since January.
Markets Today – No Help Coming
27 April 2023
The US share market is split between tech majors, doing well on the back of strong earnings versus Financials (and the rest) which are buffeted by banking uncertainty and recession fears. Core global yields are higher and the USD is weaker largely reflecting EU FX outperformance while the AUD has led a commodity linked FX decline.
Markets Today – First (Republic) Time
26 April 2023
Us equities haven fallen sharply, bond yields are lower and AUD/USD is back near 0.66, ahead of CPI this morning.
Markets Today – Titanium
24 April 2023
A quiet end to a choppy week, with some intra-day volatility following stronger than expected PMIs.
Markets Today – The Reason
21 April 2023
Weaker second-tier US data has helped push global yields lower, while disappointing earnings by Tesla (-9.7%) and talk of margin compression dragged down equities.
AMW – Q1 CPI Preview – Past the peak, but still too high
20 April 2023
We expect CPI on Wednesday to confirm that inflation is past its peak in Q1 but remains well above the RBA’s target. In this Weekly, we outline our detailed forecasts.
Markets Today – Shake it up
20 April 2023
The RBA ‘Fit for the future’ review out this morning, with media saying Treasurer Chalmers accepts all 51 recommendations
Australia’s payments future and what it means for business
19 April 2023
Payments are at the heart of every business and with today’s rapid technological changes there are even more exciting opportunities to leverage in the space.
Article
Markets Today – Some like it hot
19 April 2023
A quiet overnight session despite the plethora of earnings reports.
Markets Today – Empire State of Mind
18 April 2023
The uplift in US bond yields continued overnight, supporting the US dollar but not hurting equities
Markets Today – Is it really so bad?
17 April 2023
Stronger than expected US data pushed US yields higher and supported a broadly stronger US dollar on Friday.
Markets Today – Love Is In The Air
14 April 2023
Todays podcast Soft US PPI helps drive a risk-on rally Adds to views the US Fed is almost done USD falls, and AUD and NZD outperform Yields mixed, equities up ahead of earnings Coming up: US Retail Sales, US Bank Earnings “Love is in the air, everywhere I look around; Love is in the air, […]
Markets Today – Good, but good enough?
13 April 2023
US treasuries retraced most of their post-CPI rally overnight with core CPI coming in as expected.
Markets Today – Waiting for you
12 April 2023
It was a quiet session overnight ahead of key risk events later in the week (US CPI is on Wednesday and bank earnings are on Friday, including Wells Fargo, Citigroup and JP Morgan).
AMW – The RBA Pauses Early – what are the risks?
11 April 2023
The RBA opted to pause rate increases last week, sooner and at a lower level than many of their central banking peers. In this Weekly, we look at the risks in their approach.
Markets Today – False Claims
11 April 2023
There were no major surprises in Friday’s US NFP report, unlike the prior days weekly jobless claims data.
Markets Today – Could this be the slowing we’ve been waiting for?
6 April 2023
Softer US data saw recession concerns to the fore, with yields lower over the day but some safe-haven dynamics supporting the USD.
AMW – An update on the RBA review
5 April 2023
Late on Friday, the Treasurer formally received the independent review into the RBA, which has 51 recommendations.
Markets Today – The Shock of the Lightning JOLT
5 April 2023
A softer than expected JOLT report shook the market overnight, triggering a bull steeping in the UST. The USD fell with JPY along with European currencies outperforming. Commodity linked currencies lagged the move with AUD the notable underperformer, following yesterday’s RBA decision to pause it tightening cycle. US equities ended a four day rally with pro-cyclical sectors underperforming.
Markets Today – Stick or Twist
4 April 2023
Weak US Manufacturing survey data overnight reversed the impact of higher oil prices, leaving bond yields lower and the AUD higher. It’s all about the RBA today
Global trends to watch for the Australian university sector
3 April 2023
The strong return of international students is helping to bolster a sector undergoing post-pandemic changes amid challenging economic conditions.
Constructing a net zero investment strategy
3 April 2023
A NAB panel explores the practical implications involved for superannuation funds in their net zero investment ambitions.
Report
The AUD in March 2023
3 April 2023
Following two months of well above-average ranges, the AUD/USD range reduced to just 2.2 cents in March, though the currency did hit a 4-month low of 0.6565.
Markets Today – Love so soft
3 April 2023
A softer than expected US Core PCE Deflator (0.3% m/m vs. 0.4% expected) helped push yields lower on Friday (US 10yr -8.1bps to 3.47%).
Markets Today – What’s old is new again
31 March 2023
It’s a third successive day of relative calm across markets, though an upside surprise to German CPI has seen European yields push higher.
Markets Today – It’s All Good
30 March 2023
The positive vibes evident during our trading session yesterday have extended overnight with European and US equity indices higher on the day. Movements in rates and FX markets have been more subdued. The USD is a tad stronger in index terms with JPY the notable underperformer. AUD and NZD are also lower with the former not helped by a yesterday’s softer than expected monthly CPI print.
Markets Today – Relative Calm
29 March 2023
There has been little top-level news flow over the past 24 hours, which has seen markets relatively calm by the standards of recent weeks.
Markets Today – Everything’s Gonna be Alright
28 March 2023
Bond yields are sharply higher overnight, improved sentiment towards the banking sector one key driver
Markets Today – Night of hunters
27 March 2023
Deutsche Bank woes weighted on European equities and on US equities at the open, but the latter enjoyed a decent rebound before the close. Core global yields ended Friday lower across the board , the USD was broadly stronger , but still fell for a third consecutive week, AUD and NZD were the week’s underperformers.
Markets Today – Janet
24 March 2023
After a positive start, US equities struggled for direction amid lingering banking stability concerns. Front end tenors have led a decline in UST yields with similar price action seen in European curves. BoE, SNB and Norges Bank deliver on expected rate hikes. AUD gives back earlier gains as equities struggle.
Markets Today – Uncertain Smile
23 March 2023
The FOMC hiked rates by 25bps to 4.75-5.00%, continued QT, and kept the existing dot plot which pencils in one further hike to 5.00-5.25%. Market reaction was dovish, but was not risk on.
Markets Today – Glass half full ahead of the FOMC
22 March 2023
Todays podcast VIX tumbles as investors see the glass half full ahead of FOMC early tomorrow morning Banks lead gains in Equities with HG bond issuance also signalling improvement in risk appetite UST and Bund curves bear flatten as market increases Fed and ECB rate hikes expectations 2y UST jump 20bps, 10y UST gain […]
AMW: Financial Conditions and implications for the Fed, RBA
21 March 2023
This week, we update financial condition indices for Australia and the US and outline how central banks are likely to navigate financial stability and price stability priorities.
Markets Today – So Yesterday
21 March 2023
It was another fairly volatile day following the weekend deal for UBS to buy Credit Suisse, though overall the deal seems to have found some cautious acceptance.
Markets Today – Shotgun Wedding
20 March 2023
A deal was struck over the weekend that sees UBS buying Credit Suisse for CHF3.0bn, a fraction of its value at Friday’s close. Iitial market response, in FX at least, has been (cautiously) favourable.
Markets today – ECB sticks to its guns (sort of)
17 March 2023
The ECB delivered on its 50bps rate promise but scraps forward guidance. Meanwhile the US’ First Republic Bank gets a $30bn deposit injection from other banks
Markets Today – Panic on the dance floor
16 March 2023
Banking sector turmoil is back to the fore driving all markets, today centred on Credit Suisse.
AMW: Silicon Valley Bank developments overtake RBA
15 March 2023
This week, we consider the likelihood of further tightening by the RBA and what impact - if any - the recent failure of Silicon Valley Bank might have.
Markets Today – Are we out of the woods yet?
15 March 2023
Bond yields rose sharply on the developing assessment of turmoil in US banking, helped by but largely overshadowing a stubbornly strong US CPI.
Markets Today – Bank Turmoil
14 March 2023
Reassurances from US authorities not enough yet to appease markets. Bank stocks remain under pressure with bond yields diving as the path of future Fed hikes comes into question. The USD is also weaker across the board.
Markets Today: All for the lack of tuppence
13 March 2023
The collapse of SVB, the 16th largest bank in the US with $209bn in assets (as at 31 Dec 2022), shook markets on Thursday and Friday. That
Markets Today – The Times They Are A-Changin’?
10 March 2023
Jump in US jobless claims provides hope US labour market may be cooling while Challenger layoff data suggests there is more weakness ahead Softer US data triggers rally in UST and weakens the USD. AUD struggles to perform as US equities tumble with bank stocks leading the decline.
Markets Today – Get Set
9 March 2023
Markets broadly held onto Tuesday’s wild moves, which were driven by US Fed Chair Powell’s Senate Testimony. Overnight Powell spoke again to the House.
AMW – How Australia compares on inflation and activity
8 March 2023
Is Australia different? We put the inflation and activity data in context and discuss why Australian rates might not need to go as high as elsewhere.
Markets Today: Warning Sign
8 March 2023
The market was not prepared for Powell’s hawkish remarks, sending short rates and the USD higher and equities lower.
Markets Today: Hawkish Holzmann
7 March 2023
Hawkish comments from ECB’s Holzmann send European yields higher in an otherwise quiet night for news flow
Markets Today: I Feel Better
6 March 2023
The US dollar and Treasury yields both fell back on Friday in what was a good day for equities everywhere – except Australia.
Markets Today: (No) Resistance
3 March 2023
The run of worse than expected (global) inflation-related news continues to ripple through markets, the latest culprits being core Eurozone CPI and revised US Q4 unit labour costs.
NAB Commercial Real Estate – Insights and Impacts of the Economic and Interest Rate Environment
2 March 2023
An exclusive CRE webinar discussing the economic and interest rate environment.
Insight
Markets Today: 99 Luftballons
2 March 2023
The US 10yr finally breached 4.00% for the first time since November, following five days of resistance. A hot German CPI and renewed price pressure in the Manufacturing ISM drove, while risk assets were mixed given the strong China PMIs yesterday
The AUD in February 2023
1 March 2023
AUD performance in February was an almost exact mirror image of January, AUD/USD trading back down to near 67 cents from above 0.71 cents, having risen from sub-0.67 to above 0.71 in January.
Markets Today: I won’t back down
1 March 2023
Upside surprises to European inflation out of Spain and France have seen ECB pricing and European yields push higher, with some bleed through into the US. Elsewhere, US equities are little changed, shrugging off soft consumer confidence data, but are and on track for a monthly decline of more than 2%.
AMW: Sunshine Coast Trip Notes – still very strong
28 February 2023
Overall clients on the Sunshine Coast and Noosa continue to report strong conditions and very tight labour markets. While only a microcosm, the themes from these clients are broadly reflective of what we are picking up in the NAB Business Survey, and it is clear the RBA is not yet in sufficiently restrictive territory to slow demand enough to be confident that inflation will return to the 2-3% target
Markets Today: You’ve Got a Friend in Me
28 February 2023
A quiet start to the week with no top-tier data. The biggest piece of news was the EU and UK agreeing to a new Northern Ireland trade agreement, now termed the Windsor Agreement.
Markets Today: Too Hot
27 February 2023
The US economy has started 2023 from a stronger position that many of us had expected and when looking at the Fed’s new preferred inflation reading that tries to exclude much of the noise in the data, the story doesn’t change.
Markets Today: Edgy
24 February 2023
US equities stage a late recovery, but remain edgy
Markets Today: Wages Day
23 February 2023
In Australia yesterday, WPI wages data showed less wages pressure than feared. WPI grew 0.8% q/q and 3.3% y/y, 0.2ppts below the market consensus and RBA expectations.
Capital Markets 2023 post-conference video on-demand
23 February 2023
On-demand video from our 2023 virtual Capital Markets Conference – Transition and Challenge.
AMW: Could higher wages push the RBA even further?
22 February 2023
Yesterday's Minutes make clear the RBA’s priority is inflation. While the Board is seeking to return inflation to target while keeping the economy on an ‘even keel’ it will do what is necessary to return inflation to target. The wages backdrop is a key risk.
Markets Today: Resilience and hope drives bond yields higher
22 February 2023
The flow of economic data surprises has continued overnight and this time it was a uniformly stronger than expected performance of the services sector across major Developed Market economies.
Markets Today: US back to work for PMI day
21 February 2023
President Biden visited Ukraine, where he pledged ‘unwavering support’ for the country as the Russia’s invasion nears the one-year mark.
Markets Today: All quiet for Presidents Day
20 February 2023
It was mostly quiet on Friday and on the weekend, with an initial push higher in yields and sell-off in equities largely reversing later in the session.
Markets Today: Misleading jobs numbers and more signs inflation is hard to beat
17 February 2023
A hot US PPI and hawkish comments by the Fed’s Mester and Bullard saw yields push higher and equities fall, though initial moves were pared somewhat.
Markets Today: Americans and Aussies spend, whilst UK prices slide
16 February 2023
US retail sales soared in January jumping 3% well above the consensus, 2.0% and Sales ex-autos jumped by 2.3%, more than double the consensus, 0.9%.
MT: Resilient inflation pushes yields higher and sends stocks in a spin
15 February 2023
As for the data itself, US CPI was ever so slightly above consensus.
Resilient 2023 with capital opportunities ahead
15 February 2023
A strong start to the new year after a volatile 2022 is offering attractive conditions for capital markets participants ready to act while stability holds.
Article
NAB FX Strategy thematic: Deep dive into super portfolio holdings data
14 February 2023
NAB researchers have undertaken a detailed review of a large sample of the portfolio holdings disclosure (PHD) data made available in 2022 under regulatory changes for the industry.
Report
AMW: The RBA, Fed, labour markets and inflation
14 February 2023
With many competing influences in the global macro backdrop, in this Weekly we take a step back and outline a framework for how we are making sense of the world.
Markets Today: Fireworks for Inflation Day
14 February 2023
The main takeaway being that Americans anticipate income growth to slow and inflation to stay elevated.
Markets Today: Canada’s turn to surprise on jobs
13 February 2023
Headlines of impending Ueda nomination for BoJ Governor see volatile yen..
Markets Today: Mixed messages yet a clear one from bond yields
10 February 2023
NY Fed’s Williams stressing importance of financial conditions in policy reaction function..
Markets Today: All quiet but for the sound of central bankers
9 February 2023
NY Fed’s Williams stressing importance of financial conditions in policy reaction function..
Markets Today: Hawkish RBA, open Powell
8 February 2023
Powell then also noted how the strength in the labour market underscores why the Fed thinks it could take time to bring inflation down.
Markets Today: Will the RBA join the push to go higher?
7 February 2023
The RBA this afternoon and Powell interview in Washington tonight are today’s main draw cards.
Markets Today: Do more jobs mean more work for central banks?
6 February 2023
Fed pricing has shot back up following Payrolls and the ISM to almost fully pricing a 25bps March hike and then a follow up May hike (there is now 40bps priced across the two meetings, up from 30bps the day prior).
Markets Today: We don’t believe you
3 February 2023
Big moves overnight with the BoE and ECB feeding the market narrative that the end of the tightening phase may be nearing.
Markets Today: Fed up and the fight ain’t over
2 February 2023
Fed hikes by 25bps, signals ‘ongoing rate increases’ will be appropriate..
The AUD in January 2023
1 February 2023
AUD/USD began the year at 0.6802 and ended January at 0.7056, a 2.5 cents or 3.7% gain.
AMW: RBA to hold nerve on soft landing despite higher underlying CPI and wages
1 February 2023
We expect the forecasts to continue to draw a path to a soft landing, but the characterisation of the risks will be key to determine whether the RBA continues to be confident that it can return inflation to target without pushing rates deep into restrictive territory.
Markets Today: Slower US wages growth gives hope for a Fed pause
1 February 2023
First to US wage data overnight. The Employment Cost Index (ECI) is closely watched by the Fed as it compositionally adjusts wages growth..
Markets Today: ECB still faces inflation and output challenges
31 January 2023
Market pricing for ECB meetings increased, helping European yields higher across the curve.
Markets Today: A big week for earnings and central banks
30 January 2023
The S&P 500 Index closed 0.25% higher on Friday, finishing the week 2.5% higher.
Markets Today: US growth provides cautious optimism
27 January 2023
Since Australia Day the two biggest pieces of news were the BoC explicitly signalling a pause to the hiking cycle on Wednesday after hiking by 25bps, and US Q4 GDP which although beating expectations had a soft underbelly (2.9% annualised vs. 2.6% expected; but private domestic just 0.2%).
Markets Today: US stocks hit by reality check, Aussie CPI today
25 January 2023
European and US PMIs were the main data flow overnight.
AMW: Favourable developments for the RBA as we begin 2023
24 January 2023
We compare the state of the economy to that assessed by the RBA at their December 2022 Board Meeting.
Markets Today: Thin trade before a flurry of PMIs
24 January 2023
Tech stocks lead gains in US equities. NASDAQ up just under 2%.
Markets Today: Year of the Rabbit. Ready for the bounce?
23 January 2023
5% Netflix post-earnings pop helps drive best day for S&P500 in two weeks
Markets Today: Overreaction to Aussie jobs numbers, none to US debt ceiling
20 January 2023
USD softer despite ‘risk-off’ market tone.
Markets Today: Central banks hold out despite weaker data
19 January 2023
Very weak US retail and industrial production adds to the tumble in yields
MT: Europe has the edge, BoJ keeps us guessing
18 January 2023
As the market waits for the BoJ policy decision today, the ECB has been the market mover overnight following a Bloomberg source story suggesting the Bank may be turning less hawkish.
AMW: Q4 CPI Preview: Inflation to peak in Q4
18 January 2023
CPI inflation is expected to have peaked in Q4 2022. Looking forward, we expected inflation to slow through 2023.
MT: Big questions for BoJ and BoE, with no easy answers
17 January 2023
US out for MLK day holiday. S&P futures little changed
Markets Today: Quietly confident
16 January 2023
US equities managed to claw back into the green on Friday to extend the strong start to the year.
Markets Today: Heading in the right direction
13 January 2023
US CPI cools as expected, but with even more encouraging details.
Markets Today: Aussie Retail Therapy & US Inflation-Watch
12 January 2023
Ahead of CPI tonight US Treasuries (and bonds globally) have rallied, 10-year US notes off 5bps (3bps of that seen in the Tokyo session) and 2s down just under 2bps.
NAB Carbon Research: ACCU prices set to soar
11 January 2023
ACCU discount to global prices is out-of-step with looming step-change in demand. View the full report.
Markets Today: Early year optimism
11 January 2023
Economic news flow overnight has been relatively light, though playing with the grain of the suggestion from last week’s US data (ISM Services) that the US is in process of losing its global growth leadership position.
Work life reimagined: What’s next for hybrid working?
9 January 2023
Workplace experts, including Susan Ferrier, NAB Group Executive of People and Culture, predict what our post-pandemic model of working means for employers and employees, how to build the best model for your business and where the pitfalls lie.
Article
Markets Today: Big in Japan
5 January 2023
BoJ stuns markets with a 0% YCC tolerance band widening…
The AUD in December 2022
3 January 2023
AUD/USD ended Dec 2022 much as it started. For 2022 overall, AUD/USD lost 6.2% which was the the second biggest annual range of the past decade, exceeded only in the 2020 first year of the Covid-19 pandemic.
Markets Today: Big in Japan
21 December 2022
The BoJ thus takes out our award for the most unpredictable central bank of 2022.
Markets Today: Last minutes before Christmas
20 December 2022
Equity sentiment has not been helped by a decent sell-off in core global bonds.
MT: US services slide; China promises a J-curve recovery
19 December 2022
Recession risks were highlighted on Friday with the US S&P Global Services PMI again in contractionary territory.
Markets Today: Hawks fly over frigid Europe
16 December 2022
Hawkish ECB rhetoric post 50bps rate rise spooks risk markets
Markets Today: Hawkish Fed with higher rates for longer
15 December 2022
Early this morning and in line with market expectations the Fed lifted the funds rate by 0.5% to a range between 4.25% and 4.5%, a rates level not seen since 2007. The 50bps increase was a downshift following four consecutive hikes of 75bps.
AMW: 2023 outlook: Five big questions to be answered
14 December 2022
In today’s weekly, we suggest a framework for sifting through the various forces buffeting the 2023 outlook and pose five big questions that we think need to be answered to judge how the economy and central bank policy will evolve in 2023.
MT: Christmas comes early with cooler US inflation
14 December 2022
CPI comes in cool at 0.1% m/m and 7.1% y/y, two tenths below consensus
MT: US equities bounce ahead of a divided Fed
13 December 2022
A distinctly cautious air prevails in front of tonight’s all-important US CPI release and tomorrow’s FOMC.
MT: US producer prices spark inflation worries ahead of the Fed
12 December 2022
Solid US PPI cements apprehension ahead of the US CPI & FOMC
MT: Slight risk bounce as US markets “clutch at straws”
9 December 2022
It was a quiet night for markets devoid of any top-tier data or news flow ahead of key risk events next week (of US CPI, FOMC, ECB).
Markets Today: Bouncebackability
8 December 2022
The Bank of Canada rose 50bps, the sixth consecutive increase, and took the target rate to 4.25%.
AMW: Fed Pressure Index and recession signals from the US ISMs
7 December 2022
A key issue for markets is whether the US economy is headed for a recession in 2023, and when can we expect a meaningful moderation in inflation that would then enable the Fed to start to pivot
MT: No surprises from RBA but BoC on a knife-edge
7 December 2022
The RBA increased interest rates by 25bp to 3.1% and continues to guide that “the Board expects to increase interest rates further over the period ahead".
Markets Today: Fed’s terminal rate, heading higher?
6 December 2022
WSJ’s Fed Whisperer Nick Timiraos wrote overnight if CPI on Tuesday comes in hot then the Fed could consider another 50bp increase in February.
Markets Today: The Central Bank Dilemma – is it working?
5 December 2022
The dollar was softer and US yields lower over the past week as markets both pared terminal rate pricing and priced in more cuts from mid 2023.
Portfolio holdings data: Super funds well-positioned for market volatility
2 December 2022
NAB and ASFA examine superannuation portfolio holdings disclosure data released this year as part of regulatory changes aimed at enhancing industry transparency.
Article
MT: What did markets like about Powell’s speech?
2 December 2022
Markets hold, and more importantly extend yesterday’s post-Powell moves.
First Look 2022: US Private Placement conference makes a lasting impression
2 December 2022
Investors head Down Under with NAB to meet local issuers keen to engage with a uniquely stable, long-term funding source amid volatile times.
The AUD in November 2022
1 December 2022
The AUD ended the month in the ascendency, boosted by a less hawkish than feared Fed Chair Powell speech, forcing a broad USD retreat.
Markets Today: Powell slightly less than very hawkish
1 December 2022
Markets were relatively muted ahead of Powell’s remarks with US yields and the Dollar were tracking a little higher and equities a little weaker.
AMW: RBA Review – is it matching expectations so far?
30 November 2022
The RBA Review is underway and the three panel members recently publicly discussed their approach. In this Weekly we summarise these discussions and what changes the RBA panel is likely to recommend.
MT: China calms down, European inflation eases
30 November 2022
China vaccination push sees Hang Seng gains extended to 5%+ by the close
Markets Today: Big Trouble in Zero-COVID China
29 November 2022
China protests and COVID have seen a tone of caution to start the new week.
MT: China unrest hits Aussie dollar in early trade
28 November 2022
US equities close the week flat to lower, but with solid gains on the week
Markets Today: ECB minutes, little action, no spoilers
25 November 2022
In a quitter session, relative to recent times, the risk positive vibes have extended into a third consecutive day with higher global equity markets, lower global rates and a weaker USD.
MT: Softer data, slower Fed and more Russian oil
24 November 2022
The single biggest piece of market-moving economic news overnight has come via the US S&P Global PMIs, which slumped to 47.6 from 50.4, well below the 50.0 consensus.
NAB’s Renewables Survey November 2022
23 November 2022
NAB’s 2022 Renewables Survey signals a further acceleration of Australia’s transition to renewable energy and net zero carbon emissions policies, a trend we expect to see globally into 2030.
AMW: The Q3 WPI will make the RBA nervous
23 November 2022
In this Weekly, we dive into last week’s Q3 WPI to explain why the RBA should be more nervous about their strategy and why a near-term pause is unlikely.
Markets Today: One more pivot before Thanksgiving
23 November 2022
US equity investors are certainly looking at the glass half full ahead of Thanksgiving tomorrow with all major equity indices showing decent gains on the day.
Commercial Real Estate: Retail Market and Property Webinar
22 November 2022
An exclusive webinar on commercial real estate, covering the retail market and a property update. Watch now.
Insight
Markets Today: Oil, more or less?
22 November 2022
Oil market volatility is showing no signs of let-up , Brent crude down to a low of $83 overnight on a Wall Street Journal report suggesting Saudi Arabia was contemplating a 500,000 barrels per day production increase from December.
Markets Today: A rare dull day
21 November 2022
Latest Fed speak from Boston Fed President Collins, suggests 75bps is still in play for December, noting markets price around 52bps for the December meeting.
Markets Today: Tighter than ever
18 November 2022
US yields are higher and the dollar stronger in a modest and reversal of some of last week’s post CPI moves as Fed speakers remain stubborn that rates will continue to go higher to get to a level that is sufficiently restrictive.
MT: Back to betting on the Fed; no pause for RBA?
17 November 2022
Fed speakers were clear that a pause is not imminent and there is more to do, even as they may move at a slower pace, while stronger US retail sales numbers showed resilience in spending, providing some small counter to the burst of optimism after softer-than-expected US inflation data last week.
Markets Today: A step too far
16 November 2022
It has been a wild night in markets. After initially enjoying a broad and solid risk on move with equity markets rising and core global bond yields falling alongside a broadly weaker USD
AMW: Is the RBA as dovish as they sound?
16 November 2022
In this Weekly, we explore recent RBA communications and forecasts and what it means for the path forward. It is clear there is a very high bar to step back up to 50bp hikes.
Markets Today: A slight reality check
15 November 2022
The new week has begun with a small reversal in the some of the risk positive moves recorded last week, particularly in FX markets and US Treasuries while equity market are showing resilience.
Markets Today: False Hopes?
14 November 2022
US CPI, US political gridlock (maybe) and China covid policy tweaks...
Markets Today: A welcome relief
10 November 2022
It has been a super risk positive night courtesy of a big downward surprise in the US CPI release.
Markets Today: Inflation Day
10 November 2022
Republican ‘red wave’ failed to materialise, but still expect slim House majority
AMW: Central banks are gear shifting, rather than pivoting
9 November 2022
By downshifting the pace of hikes, central banks are acknowledging that decisions are becoming more finely balanced as they tread a fine line of returning inflation to target, while avoiding significantly overtightening policy and slowing the economy more than needed.
Markets Today: Downturns, mid-terms, no U-turns
9 November 2022
The NAB Business Survey showed Conditions falling just one point to +22 to remain at very elevated levels, above the pre-pandemic highs for the series.
Markets Today: An end to China’s Zero COVID, or not?
8 November 2022
Speculation about China reopening continues to add some market volatility with WSJ reporting Chinese leaders were considering reopening steps getting some notice.
MT: China scotches Zero COVID speculation, again
7 November 2022
Risk appetite soared on Friday as Chinese whispers swept markets last week that China had put together a ‘conditional re-opening plan’, reportedly mapping out a material re-opening by March 2023.
Markets Today: A Tale of Two Britains
4 November 2022
Wednesday’s FOMC meeting continues to reverberate through markets.
MT: No Pivot from the Fed, but markets bounce about
3 November 2022
FOMC Statement hints at reduced pace of tightening ahead…
Markets Today: Slow and steady wins the race
2 November 2022
It has been a volatile session in markets with risk assets initially lifted by rumours China was looking at phasing out its zero-covid policy, only for Beijing to later deny the speculation.
The AUD in October 2022
1 November 2022
Australia specific influences on AUD once again played second fiddle to broader USD volatility and swings in risk sentiment.
Markets Today: The Bank That Stops Inflation, eventually
1 November 2022
NAB has pencilled in a 25bp hike, we also think there is a real risk that the RBA hikes by 50bps, and that this risk is higher than the 22% chance that markets are currently pricing.
MT: Will markets be spooked by scary central banks?
31 October 2022
Big gains in US equities on Friday help extend rally for a second week
Corporate cards go virtually seamless
28 October 2022
The rise of e-commerce as an enduring consumer trend is driving a new kind of payments experience within the corporate and government space.
MT: ECB slowing to a crawl now? More recession and pivot talk
28 October 2022
The ECB meeting was the big event for markets last night and as expected the Bank delivered a 75bps hike, but it sounded less committal on future rate hikes.
Markets Today: Cries of ‘Pivot!’ as BoC slows hikes
27 October 2022
Yields are generally lower globally as the earlier run up in expectations for central bank tightening are pared a little further. A hike of ‘only’ 50bp from the BoC helping that sentiment.
MT: Why do so many expect the Fed to slow down?
26 October 2022
Last night’s first Federal Budget under Labor Treasurer Jim Chalmers contained no fireworks, falling fully in line with pre-Budget media briefings.
Markets Today: US rally, China’s slump, UK’s new PM
25 October 2022
The UK has a new PM in Rishi Sunak, and gilts have rallied in response. UK 10yr gilt yields were 31bp lower at 3.75%. That’s 90bp off their peak of 4.64%, but still about 60bp above their level before the Truss Premiership.
AMW: Supply chain update, price reductions in coming months
25 October 2022
This week we provide a further update on supply chain disruptions and highlight a few areas where businesses might reasonably expect some lower prices from suppliers in coming months.
China’s Economy at a Glance – October 2022
24 October 2022
Growth rebounded in Q3, but base effects flattered the results
Insight
MT: Fed might ease off, Boris might jump back in
24 October 2022
Friday’s offshore markets produced as many fireworks as we have seen on just about any day this year with the mere suggestion of the Fed stepping down from 75bps to a 50bps incremental rate hike in December producing a fierce rally in US equities.
Markets Today: The battle for Britain
21 October 2022
Terminal Fed Funds pricing have lifted to 5.00% by March 2023 from 4.92% last week and continue to price a 75bp hike at the upcoming November FOMC meeting and a 75% chance of a follow up 75bp at the December meeting.
Markets Today: Full reversal, for today
20 October 2022
Yields rose to fresh cycle highs and risk appetite soured. US equities were lower, halting a 2-day rally despite relatively upbeat earnings from the likes of Netflix and United Airlines.
Markets Today: Tails(s) Wag Dog(s)
19 October 2022
The selloff in bonds has seen a ‘reversal of the reversal’.
AMW: October’s Budget & Australia’s Fiscal Relativities
18 October 2022
Australia’s second Budget for 2022-23 will be handed down next week (7.30pm on Tuesday 25th). Treasurer Chalmers has framed this Budget as one that will not add to inflation risks amid elevated cost-of living pressures and which occurs with a background of rising global recession risks.
Markets Today: Brits Big U Turn, America Buys the Dip
18 October 2022
Another big UK fiscal U-turn and positive earnings from BofA boosted global risk appetite last night.
Markets Today: Where does it end?
17 October 2022
Rise in 1y ahead US inflation expectations spooks markets
MT: Massive swings as US inflation stays high
14 October 2022
Volatile overnight session sees risk on, risk off then risk on again
Markets Today: Less jobs before Fed stops
13 October 2022
UK markets remain at the epicentre of global market volatility
AMW: CPI Preview: Q3 CPI seen +1.6% q/q on trimmed mean and 1.3% on headline
13 October 2022
Q3 CPI is on Wednesday 26 October and we forecast Headline of 1.3% q/q and 6.7% y/y.
Markets Today: Don’t panic Mr. Bailey
12 October 2022
Bailey in Washington says bond purchases will end as scheduled on Friday
Markets Today: Gloomy and more uncertain
11 October 2022
Risk aversion has dominated the start of the new week amid heighted geopolitical tensions and a market disillusioned by credible BoE support for the Gilts market.
Markets Today: Tight labour, hawkish banks, angry Putin
10 October 2022
It was ‘good news is bad news’ for US Payrolls which were a touch better than expected and seen as too solid to support a pivot narrative.
Markets Today: Even less pivot hope, from Paris
7 October 2022
In Australia there are two macro developments worth watching, Seek new job ads and Consumption imports in the August trade balance.
MT: Pivot talk killed by resilient services ISM read
6 October 2022
Another volatile session in markets; US equities opened lower, not helped by anticipated news of a bigger oil cut supply agreement by OPEC +.
AMW: Preliminary Q3 CPI thoughts and the inflation outlook
5 October 2022
In this weekly we give our initial thoughts on Q3 CPI following last week’s August monthly CPI indicator. We will provide a full preview early next week ahead of Q3 CPI on 26 October.
Markets Today: Markets jump on JOLTs and RBA surprise
5 October 2022
Yesterday 25bps RBA cash rate rise, defied the broad consensus among economists and investors (~45bps was priced in for the meeting) but which was justified by the Board in part on the premise that “the cash rate has been increased substantially in a short period of time”.
The AUD in September 2022
4 October 2022
The AUD/USD high of 0.6916 came on the 13th and the low of 0.6363 on the 29th (last day of the month).
MT: Markets buoyed by bad news and caving in
4 October 2022
A surprise U-turn by the UK government on the fiscal package and a weaker than expected US ISM Manufacturing (50.9 vs. 52.0 expected) have driven a large fall in global yields.
Markets Today: No slowdown yet: Euro inflation and US core PCE
3 October 2022
US equites fall on Friday to close out a 3rd consecutive negative quarter
Sustainable Finance market overview: October 2022
1 October 2022
A look at what's been happening in the sustainable finance market in Australia and abroad.
Newsletter
Sustainable Finance update: October 2022
1 October 2022
A look at what’s been happening in the sustainable finance market in Australia and abroad.
Newsletter
Sustainable Finance recent deals: October 2022
1 October 2022
A look at what's been happening in the sustainable finance market in Australia and abroad.
Newsletter
Sustainable Finance investor and market news: October 2022
1 October 2022
A look at what's been happening in the sustainable finance market in Australia and abroad.
Newsletter
MT: UK calmer, US stocks fall, yields rising, hawkish Fed/ECB
30 September 2022
In a positive development the OBR will provide preliminary costings of the UK’s fiscal package on 7 October, instead of the previously signalled deadline of November 23 (the same day as the Budget).
Markets Today: UK ticked off by IMF, BoE goes back to QE
29 September 2022
Bank of England has pledged to buy up to £5bn of longer dated gilts each day for up to 13 days (£65bn total) with a motive of protecting the UK pension industry.
AMW: Where have all the workers gone: Australia?
28 September 2022
We explore in detail three features of the post-pandemic labour market that have added frictions and disrupted the supply of labour over and above the shifting macro environment.
MT: US dollar and bond yields continue to rise, till when?
28 September 2022
UK rates continue to push higher
Markets Today: Unruly Britannia
27 September 2022
Fallout from UK mini-budget continues.
Markets Today: The pound hammered, will it last?
26 September 2022
Epicentre of current market turmoil shifts across the Atlantic to UK on Friday
Markets Today: Central bank overload
23 September 2022
BoE, SNB and Norges Bank follow the Fed’s +75bps with 50bps, 75bps, 50bps respectively
Markets Today: 0.75% hike by the Fed, no bluff
22 September 2022
Fed hikes 75bps as expected, looks for 125bps in ’22 then 25bps more in ‘23
AMW: Business conditions and consumer sentiment
21 September 2022
Markets will be looking for any clues from the RBA Board Minutes as to whether the RBA might step down from its 50bps rises back to 25bps.
21 September 2022
View the Full Report Reconciling a record divergence between business conditions and consumer sentiment This week It’s a relatively quiet week on the Australian data front this week, with really only the RBA Board Minutes tomorrow and a speech by Deputy Governor Bullock on Wednesday, which will review the RBA’s bond purchase program and presumably […]
MT: Fed to push higher, Putin pushing for referendums
21 September 2022
A sourer tone took hold over the past 24 hours, with equities lower and haven currencies, including the dollar, stronger.
Markets Today: Fears the Fed will ‘keep at it’ for a while yet
20 September 2022
US yields continued to push higher ahead of the FOMC
MT: Prepare for a volatile week of Banks and Holidays
19 September 2022
Last week will be marked out as one of the more tumultuous for financial markets since the early days of the pandemic, says NAB's Ray Attrill.
Markets Today: Heading higher and taking longer
16 September 2022
Volatility has come roaring back in Thursday’s offshore session.
Markets Today: The day after. No big bounce.
15 September 2022
After recording hefty losses post the US CPI release on Tuesday, US equity markets closed with modest gains.
AMW: NAB Survey still points to very high inflation
14 September 2022
This week we update our analysis of the inflation reads in the NAB Business Survey and what this may mean for CPI pressures in Australia, particularly in Q3.
Markets Today: Peak inflation, not yet
14 September 2022
Today’s podcast Overview Rumours of inflation’s demise much exaggerated US CPI shocks to the upside: stocks, bonds take fright USD bounces back, AUD and NZD both down by more than 2% Next week’s Fed debate now seen to be between 75 and 100bps (83bps priced) German ZEW survey readings slumps while US NFIB Business Optimism […]
Markets Today: The risk of rising risk sentiment
13 September 2022
Positive risk sentiment ahead of US CPI tonight.
Markets Today: Fed still pushing, BoE pushes back
12 September 2022
Risk appetite improves despite hawkish Fed talk
Markets Today: Yields rising as ECB lifts rates
9 September 2022
It has been all about the ECB and Fed overnight with the former delivering a jumbo hike and hinting at more to come while Fed Chair Powell reiterates commitment to act forcefully against inflation
Markets Today: High hopes of smaller hikes
8 September 2022
A volatile night where earlier price action in Asia was largely reversed.
Markets Today: More work for Fed, UK’s massive Truss Fund
7 September 2022
A broad rise in core global yields has been the big news overnight, fuelled by a better-than-expected US ISM report and news UK PM Truss is planning a huge debt-funded fiscal stimulus.
AMW: Two large, overlapping shocks and MP decision
6 September 2022
NAB expects the fourth successive 50bps interest rate increase to be announced on Tuesday as the RBA moves policy back to a more neutral level.
MT: UK and Europe move from bad to worse, RBA today
6 September 2022
Eurozone bonds yields and stocks falling on the latest jump in energy prices – both oil and gas – following confirmation the NordSteeam1 gas pipeline will remain shut while Russian sanctions are in place.
Markets Today: Putin ends Goldilocks moment
5 September 2022
A goldilocks payrolls report failed to support risk assets on Friday, with equities and the USD quickly reversing on news that Russia was not restarting gas flows through the Nord Stream pipeline
The AUD in August 2022
2 September 2022
The AUD/USD spent August oscillating around the 70 US cents mark but spent much more time below than above.
MT: Will strong jobs numbers add to the Fed’s battle?
2 September 2022
The bond sell-off shows no signs of abating with a stronger than expected US ISM Manufacturing helping to drive the US 10yr yield up.
NAB Foreign Exchange
1 September 2022
We'll help you find the right foreign exchange risk management strategy by understanding your core business and the challenges you face every day.
Markets Today: Euro inflation hits new high
1 September 2022
August has been a terrible month for balance fund investors with no diversification gains from holding a portfolio of equities and bonds.
AMW: What did we learn from Jackson Hole?
31 August 2022
Central bank officials from around the world met at Jackson Hole last week. In this Weekly we highlight the key discussion points and what implications this may have.
Markets Today: More good news, that’s actually bad news
31 August 2022
Goldman’s noted inflation could hit 22.4% y/y in the UK in early 2023 if gas prices don’t moderate and if there is little in the way of cost of living relief.
Markets Today: Aussie yields push higher
30 August 2022
Following a negative lead from Asia, US and EU equities have begun the new week on the back foot.
This morning’s happy birthday call
29 August 2022
After clocking 5.5 million podcast plays and 15,000 daily listeners, NAB’s Morning Call is celebrating six years of market highlights, with even more expert analysis to come.
Podcast
Markets Today: Investors respond to Powell comments
29 August 2022
Fed chair Jay Powell’s address to the Kansas Fed’s Jackson Hole Symposium on Friday was short and as far as equity market investors were concerned, bitter not sweet.
Markets Today: Peering into Jackson hole
26 August 2022
Another day spent in anticipation of Powell’s speech tonight
Markets Today: Dire Straits for UK and Europe
25 August 2022
Another night devoid of top-tier data or news flow. The past week has been a bit like Waiting for Godot with markets apprehensive ahead of US Fed Chair Powell’s Jackson Hole speech on Friday.
MT: Business activity falls, but not enough to slow the Fed
24 August 2022
Composite PMI sub-50 everywhere in the world bar UK; US worst of all.
AMW: Wages to accelerate despite gradual lift in WPI
23 August 2022
In this weekly, we explain why other wage indicators are lifting more strongly, including from NAB’s own business survey.
Markets Today: European gas prices push ever higher
23 August 2022
Markets are apprehensive ahead of US Fed Chair Powell’s Jackson Hole speech on Friday
Markets Today: Shopping to the very end
22 August 2022
NAB's Rodrigo Catril says the Canadians are out shopping; we also saw a big increase in purchase prices in Germany, in fact the largest monthly rise since 1949.
Markets Today: Fed still trying to show they won’t give in
19 August 2022
Following yesterday’s FOMC Minutes overnight we’ve heard from FOMC members wanting the Funds Rate up to 3.75-4.0% this year and questioning why you’d want to drag rate rises out into next year.
Markets Today: UK’s sticker shock inflation drives caution
18 August 2022
In Australia, wages data for the 3 months to May disappointed most forecasters, though the result was in line with the RBA August SoMP (and NAB) forecast.
AMW: Hot inflation, what does this mean for CPI?
17 August 2022
This week we expand on the hot inflation reads seen in the NAB Business Survey and what this may mean for CPI pressures in Australia, particularly for Q3.
Markets Today: Retail, wages and RBNZ
17 August 2022
After a negative start, US equities managed to end the day in positive territory supported by better than expected earnings reports from retailers.
Markets Today: Slow boat from China
16 August 2022
Oil prices have fallen to their lowest since early February 2022 with falls of around 4% in part due to weaker China demand.
MT: A positive outlook, apart from the downturn
15 August 2022
Equities continued their relentless rise, brushing off the inflation expectations data and hawkish Fed rhetoric
Markets Today: Not convinced by the Fed
12 August 2022
The San Francisco Fed’s Mary Daly warned it is too early to ‘declare victory’ over inflation.
Markets Today: False hope on easing inflation?
11 August 2022
It was all about US CPI overnight with markets reacting sharply to a lower than expected print with Equity and FX markets taking the CPI miss as a positive signal, taking some pressure off the Fed and a sign that inflation has peaked.
The Forward View – Australia: August 2022
10 August 2022
Rebound set to fade as consumption slows in H2 2022
Insight
Markets Today: Inflation Day
10 August 2022
There was no let-up in elevated price pressures in the July NAB Business Survey published yesterday, with price indicators accelerating further from the already record highs of recent months.
AMW: Job ads look to have topped out – what does it mean?
9 August 2022
In this Weekly we look at job ads in more detail to see what they may be portending for activity, and we also cross check the data with other information.
Markets Today: Markets in Limbo
9 August 2022
China is continuing its military drills around Taiwan, but that hasn’t impacted markets apart from gold (+0.7% to 1,787.61) retaining some slight geopolitical risk premium.
Markets Today: US jobs market too hot for the Fed?
8 August 2022
An all-round stronger than expected US employment report Friday dominated the end-of-week market price action; whether they extend or at least partially reverse this week hinges in large part on Wednesday’s US July CPI data.
Markets Today: Uncertainty reigns, except in Britain.
5 August 2022
As widely expected, the BoE lifted the cash rate by 50bps and retained the option to act forcefully in the future, the Bank now officially sees a recession in the horizon.
MT: The quick path to credible disinflation and other stories
4 August 2022
A few hours on from Nancy Pelosi leaving Taiwan and markets have almost forgotten she ever came. Equity market have recovered their poise, a tech sector rally seeing the NASDAQ close at its highest level since 4 May.
AMW: Outlook for wages with unemployment at 3.5%
3 August 2022
Our analysis in this weekly highlights that the RBA is indeed treading a fine line in trying to chart a credible path to at target inflation.
MT: Pelosi in Taiwan, Fed nowhere near almost done
3 August 2022
In Australia, the RBA met yesterday and raised the official cash rate by 50bps to 1.85% as expected, the third consecutive 50bps increase to be at its highest level since April 2016.
The AUD in July 2022
2 August 2022
The AUD/USD opened the month at 0.6903, fell to its monthly low of 0.6682 on July 14 and made a high of 0.7032 on July 29 before closing the month at 0.6985.
MT: Recession signs, RBA to hike, grains from Odessa
2 August 2022
Data releases over the past 24 hours have provided further evidence the global economy is slowing. China’s Caixin Manufacturing PMI confirmed that China’s reopening rebound is over.
MT: No inflation slowdown, just wishful thinking
31 July 2022
US economic data on Friday underscored the inflation challenge facing the Fed
MT: When is a recession not really a recession?
29 July 2022
ECB’s Visco says “there is a risk of a recession” and that ECB policy can’t drive down gas prices.
Markets Today: Fed hikes 75bp, no forward guidance
28 July 2022
The Fed delivered a unanimous 75bp hike as widely anticipated.
AMW: RBA Review, No need to shift inflation target
27 July 2022
The Terms of Reference for the RBA Review have been finalised, the three-member review panel appointed, and March 2023 set as a deadline for a final report containing recommendations to the Government. In this Weekly, we look at what to expect.
MT: Shares down, consumers change focus
27 July 2022
More price increases are likely for food and grocery. If they continue to rise in Q3 and Q4, it is hard to see US core inflation numbers moderate sufficiently for the Fed to pivot.
Markets Today: Then there was one (turbine)
26 July 2022
Kremlin confirms 20% cut of gas to Europe from Wednesday. Gas up 9%
Markets Today: Softer data, harder RBA
25 July 2022
A round of softer than expected PMIs on Friday added further fuel to ongoing concerns over a global economic slowdown with the move into contractionary mode for both the EuroZone composite and US Services PMIs the main culprits.
Markets Today: ECB makes it to zero
22 July 2022
The ECB hiked rates by a more-than-expected 50bps, taking the deposit rate back to 0% and ending its negative interest rate policy that has been in place since 2014
Markets Today: Markets set for a tougher ECB
20 July 2022
ECB now seen hiking by 50bps tomorrow and then again in September
AMW: Household sector starts to respond to higher rates
19 July 2022
In this Weekly we shine a spotlight on the household sector and what trends are starting to show as households react to higher interest rates and above-target inflation.
Markets Today: Gas to Europe unlikely this week
19 July 2022
Oil is the standout mover, Brent +$4.50 and WTI crude +$4.60 on reports Saudi Arabia won’t be pumping any more oil
Markets Today: A Good Friday but a crunch week for Europe
18 July 2022
Risk sentiment rallied on Friday with a better than expected US retail sales print and positive earnings from Citigroup lifting equities
Markets Today: Aussies Take Up Jobs as Draghi Tries to Quit
15 July 2022
Australian employment data yesterday was showed a tighter labour market than the RBA had been expecting with the unemployment rate plummeting four tenths to 3.5% , a new 48-year low.
Markets Today: US Inflation rises, everything is in play
14 July 2022
Bank of Canada surprises with ‘front-loaded’ 100bps rate rise
Markets Today: Freaking out over inflation
13 July 2022
Risk off again overnight as recession fears intensify
AMW: Inflation and our RBA call
12 July 2022
In this Weekly we highlight some of the indicators that suggest a peak in global inflation is near
MT: China flares up, Putin flexes more, US Dollar higher
12 July 2022
Risk off ahead of a big week for data, partly driven mainly by China virus news
MT: Healthy jobs data bad news for the economy
11 July 2022
US June non-farm payroll employment 372k vs. 265k expected.
Markets Today: A glimmer of hope, except for Boris
8 July 2022
Risk sentiment improved over the past 24 hours.
NAB Markets – Interest Rate Update Post RBA Meeting July 2022
7 July 2022
Global Central Banks have been lifting interest rates to combat 40-year high inflation numbers. What does this mean for commercial borrowers?
Webinar
Markets Today: Significant risk, still?
7 July 2022
Higher US yields together with a further drop in the EUR sees the USD in DXY terms now at its highest since September 2002.
MT: Oil Dives, Bonds Rally and Recession Fears grow
6 July 2022
Brent oil prices are down 17% since 14 June and have the potential to drive some welcome relief on headline inflation prints.
AMW: How will central banks respond to recession risks?
5 July 2022
In this Weekly we explore how central banks may respond to rising recession risk and expand upon some of the leading indicators of recession
Markets Today: Australia, faring better than most
5 July 2022
Europe remains stuck in the middle between the Russia/Ukraine crisis and a weakening global economy
Markets Today: Independence Day: Recession Resurgence
4 July 2022
After a dismal first half, US equities start H2-22 with a positive tone
The AUD in June 2022
1 July 2022
The AUD/USD opened the month at 0.7170, made a high of 0.7283 on June 3 and fell to its monthly low of 0.6851 on June 15.
Markets Today: And back to recession fears
1 July 2022
A wild night for risk assets with recession risks rising.
Markets Today: Understanding how little we understand
30 June 2022
Core global yields have been the big market movers overnight with European bonds leading the decline in yields.
AMW: Fed Pressure Index has correctly signalled inflationary pressures
29 June 2022
In this weekly, we look at some indicators that might reliably provide warning of some unwind or easing of the supply chain disruptions.
Markets Today: Less US confidence, tough talking ECB
29 June 2022
Weaker US consumer confidence dents equities
Sustainable Finance Update: June 2022
28 June 2022
A look at what’s been happening in the sustainable finance market in Australia and abroad.
Sustainable Finance Update: June 2022
28 June 2022
A look at what's been happening in the sustainable finance market in Australia and abroad.
Sustainable Finance Update: June 2022
28 June 2022
A look at what's been happening in the sustainable finance market in Australia and abroad.
Sustainable Finance Update: June 2022
28 June 2022
A look at what's been happening in the sustainable finance market in Australia and abroad.
Markets Today: Heading for a choppy end to Q2
28 June 2022
US equity markets have begun the new week on the back foot with a clear lack of conviction.
Focus on supply chain risk
27 June 2022
The ongoing disruption of the pandemic and Russia and Ukraine conflict have highlighted the need for a different approach to global logistics.
Markets Today: Is bad news good news these days?
27 June 2022
It was a great day for US stocks on Friday, with two-thirds of the mid-month sell-off now retraced.
The changing world of imports: A view from the inside
24 June 2022
An upended international trading environment brings both new pressures and fresh opportunities. In the second instalment of our Supply Chain Q&A series, our experts examine how Australian importers are moving forward and gearing up for further growth.
Article
Markets Today: Unconditional commitment, come what may
24 June 2022
Despite softer PMIs and still-hawkish messaging from the Fed, US equities managed to turn around intraday.
Markets Today: Powell admits recession is possible
23 June 2022
Recession or hard landing fears have taken a firmer hold on most markets in the past 24 hours.
Transitioning to Net Zero post-conference video on-demand
22 June 2022
On-demand video from our virtual Transitioning to Net Zero conference.
AMW: Headline CPI of 7% over 2022 looks reasonable
22 June 2022
The RBA has upgraded its inflation forecasts, now seeing headline inflation at 7% by the end of 2022.
Markets Today: Brighter days ahead
22 June 2022
Some relief in equities with a strong bounce back from last week’s decline
Markets Today: Is the RBA preparing to go harder?
21 June 2022
The RBA is front and centre in local markets this morning.
Markets Today: Turning up the rhetoric
20 June 2022
US and European equities showed signs of stabilisation on Friday, but still ended with sharp declines on the week which was not helped by Fed Chair Powell's words that the Fed has unconditional commitment to restoring price stability.
Markets Today: Markets go cuckoo as the Swiss clock a half percent hike
17 June 2022
The Bank of England rose rate by 25bps and left its options wide open on future moves
Markets Today: A big step to the soft landing few believe will happen
16 June 2022
Fed delivers 75bps rate rise, sees 50 or 75 most likely at next meeting
Women building a better property finance sector
15 June 2022
A NAB networking event connects women across construction and property finance to help promote female participation in the sector.
AMW: Inflation expectations will see central banks become even more hawkish
15 June 2022
The key policy challenge will be to gradually return inflation to the 2%/2-3% target ranges sought in the US and Australia respectively, while avoiding taking interest rates too high producing a recession and a sustained rise in unemployment
Markets Today: The day before the dots
15 June 2022
Ahead of tomorrow's FOMC meeting we have seen an increase in market volatility across Equity, Rates and FX.
Markets Today: Markets Panic after US inflation surprise
14 June 2022
A hot US CPI report and signs of inflation expectations de-anchoring on Friday has seen yields surge, risk assets sell off, and recession talk rise.
Markets Today: ECB set to turn up the dial
10 June 2022
Announcing the end of the Asset Purchase Programme (APP) as of July 1, the ECB also pre-announced a 25bps rise in interest rates out of its July meeting with a further rise planned out of the Sept meeting.
Markets Today: Oil jumps, shares fall, inflation forecasts worsen
9 June 2022
Rise in oil prices fuels inflationary concerns and the need for central banks to increase their hawkishness.
Markets Today: RBA, far from business as usual
8 June 2022
RBA surprises (most) for second month running with 50bps Cash Rate rise to 0.85%
The RBA gets serious
7 June 2022
Putting Wealth To Work For Generations
Report
AMW: RBA: the top ten reasons we expect today’s interest rate increase to be 25bps
7 June 2022
The RBA’s Board meets today and a further interest rate increase is unanimously expected by market economists with the size of the rate increase uncertain.
Markets Today: Rates jump, Boris’ near miss, RBA today
7 June 2022
Yields rose notably in what was a quiet night for data and events.
Markets Today: Get ready for RBA, ECB and US CPI
6 June 2022
Markets took the strong US payroll gains on Friday as affirming the near-term path for continued Fed tightening.
Markets Today: More oil, weaker jobs growth. Equities live on hope.
3 June 2022
A positive day for risk sentiment ahead of US Payrolls tonight on no new news
Markets Today: Rates boosted as US data support aggressive Fed hikes
2 June 2022
Reaction to a strong set of US data releases has been the main story overnight
AMW: RBA Review to begin ‘relatively soon.’ What to expect
1 June 2022
A review into the RBA is expected to occur “relatively soon” according to the newly elected Labor Government.
The AUD in May 2022
1 June 2022
AUD/USD hit a near two-year low of 0.6829 on May 13 after hitting its highest May prints earlier in the month (0.7266, seen on both May 4 and 5).
Markets Today: EU sanctions, more in the pipeline?
1 June 2022
Inflation is back in focus with European inflation at its highest ever level of 8.1% y/y helping rates extend yesterday’s selloff.
Markets Today: German inflation concerns, but equity markets refuse to freak out
31 May 2022
Brent oil recorded its 8-consecutive day of price increases, supported by expectations of a China reopening in addition to the expected EU Russian oil ban.
FX innovation powers sustainability goals
30 May 2022
NAB’s first sustainability-linked foreign exchange (FX) derivative aligns environmental, social and governance (ESG) targets with financial risk management for a major London-listed infrastructure investment company.
Markets Today: A piggy bank backed recovery
30 May 2022
After having moved briefly into bear market territory the previous Friday, last Friday saw the S&P500 up by its largest weekly gain so far this year.
Markets Today: Equities and bonds markets divided
27 May 2022
US equities had a strong night with the S&P500 +2.0% and NASDAQ 2.7%.
Markets Today: Markets accept rate hikes if they tame inflation
26 May 2022
The market found some relief on the notion that the FOMC Minutes revealed a broad consensus for 50bps hikes in June and July and the possibility for a pause later in the year.
AMW: There’s more to normalisation than short rates, financial conditions matter
25 May 2022
In this Weekly. we discuss how broader financial conditions, and not just the cash rate, are influencing the economic outlook.
Markets Today: Markets Snap Out of It
25 May 2022
Monday’s upbeat sentiment was short-lived with falls in equities and yields overnight.
Markets Today: Hope springs eternal, well, for today anyway
24 May 2022
A more positive risk backdrop begins the new week. US equities are higher, the S&P500 up 1.9%, extending a turnaround after dipping into bear market territory intraday on Friday.
Markets Today: New Australian government, same global concerns
23 May 2022
The S&P500 falls into bear market terrain Friday before late day pull-up
Markets Today: Who can slow down the slowdown?
20 May 2022
Although employment growth disappointed yesterday, and along with wages data from earlier in the week, remains consistent with a rate rise of 25bp by the RBA in June.
Markets Today: Equities bomb as investors are reminded of inflation
19 May 2022
The S&P500 high to low fall since the early January high puts it down 19% year to date and although not officially in bear market territory yet, looks to be only a matter of time.
Markets Today: China reopening, Americans shopping, Brits working
18 May 2022
The UK's unemployment rate fell to it's lowest level since 1974 and along with a further pickup in average earnings growth, now see money markets pricing 125bps of BOE rate hikes by December.
AMW: Delving deeper into the NAB Survey on costs & prices
17 May 2022
It’s clear that with unemployment close to full employment levels and inflation way above target and forecast to rise higher, Australian interest rate settings should no longer be anywhere close to the emergency low settings implemented in the pandemic.
Markets Today: Markets tossed back and forth in a sea of uncertainty
17 May 2022
The biggest news overnight is commodities, oil prices are up, which threatens to prolong the inflation narrative.
Markets Today: One day when fears eased, for a bit
16 May 2022
US Consumer Sentiment fell further than expected to be at its lowest level since August 2011 and with consumer confidence so low, the risk of recession is rising.
Markets Today: A world of worry
13 May 2022
Risk assets remained out of favour as concerns over inflation and recession risk continued to dominate.
Markets Today: US inflation numbers hit shares, bond markets more restrained
12 May 2022
Another volatile session in markets with an upward surprise in the April US inflation data release adding an extra layer of uncertainty
AMW: Central banks are focused on inflation, at any costs?
11 May 2022
The RBA met last week and raised rates by 25bps, lifting the cash rate target to 0.35%, and signalled further hikes over coming months
Markets Today: A momentary lapse of reason
11 May 2022
Decline in inflation expectations drive core global bond yields lower with further fall in oil prices helping the move.
Markets Today: Stocks dive over fears of the perfect storm
10 May 2022
The ongoing theme of mounting growth concerns against a backdrop of central bank tightening is continuing to drive market movements.
Markets Today: Are markets running scared?
9 May 2022
The current debate in Markets is whether the Fed would be willing to let the economy slip into recession to tame inflation.
Markets Today: Market whiplash as sentiment takes a hit
6 May 2022
Inflation is now forecast to peak at over 10% this year in the UK
The Great Australian Wealth Transfer
5 May 2022
Research shows that the vast majority of family wealth is lost by the third generation.
Article
Markets Today: Powell knocks mega-rise prospects on the head
5 May 2022
Powell comments that 75bps isn’t something the FOMC is actively considering and that 50bps is on the table for the next couple of meetings
Markets Today: RBA loses a little patience
4 May 2022
The RBA yesterday increased the cash rate target by 25bp to 0.35% and said it will do what is necessary to return inflation to the band
Markets Today: Breaking the Three Percent Barrier
3 May 2022
US 10-year Treasuries have just breached the psychological 3% barrier for the first time since late November 2018 in what has been a further bear steepening of the US curve
AMW: A baker’s dozen of questions on Australian monetary policy
2 May 2022
The RBA Board meets tomorrow in a meeting now widely expected to see the first increase in interest rates since November 2010.
The AUD in April 2022
2 May 2022
Sentiment toward the AUD went from hero to zero in April.
Markets Today: The week central banks get serious
2 May 2022
The NASDAQ recorded its worst monthly performance in more than a decade.
Markets Today: A fall in US GDP doesn’t signify recession, yet
29 April 2022
A wild ride in FX markets over the past 24 hours
Markets Today: RBA will hike next week
28 April 2022
News of Russia’s decision to cut gas supply to Poland and Bulgaria triggered a 30% jump in EU gas prices at the open before eventually settling 10% higher.
AMW: Expect moderate falls in house prices
27 April 2022
In this Weekly we look at the potential impacts on theoretical borrowing capacity at different interest rates.
Markets Today: Russia turns off gas for Poland and Bulgaria
27 April 2022
The World Bank has warned the war in Ukraine is set to cause the "largest commodity shock" since the 1970s (referencing the 1973 oil embargo).
Affordable housing insights from the UK
26 April 2022
The rise in ESG investing can help address gaps in Australia’s affordable and specialist housing sector through innovative funding models, NAB’s experience in the UK shows.
Markets Today: Front end Fed and China’s quest for the impossible
26 April 2022
There’s been a strong risk-off sentiment to the start of the week.
Markets Today: European bond yields rise sharply
22 April 2022
Markets are a little easier to understand today. Bond yields are back on the rise, given inflation expectations and more hawkish rhetoric from central banks.
Reliance Rail right on track for a sustainable future with $1.8b loan
21 April 2022
A landmark $1.8 billion green sustainability-linked loan sets ambitious targets for reducing energy and water usage for a major fleet of city trains and maintenance centre.
AMW: The labour market and the outlook for wages
20 April 2022
Wages likely to pick up despite NAIRU uncertainty. The RBA’s latest ‘best guess’ of the NAIRU is 4%.
Markets Today: A temporary change in direction
20 April 2022
Bond yields have fallen sharply overnight, but that doesn’t mean inflation expectations are going away, or does it?
Markets Today: Bond yields and equities both rise sharply
19 April 2022
It’s not something that will continue for long, but US bond yields have risen sharply today, and so have equities. Which one will give in first?
Markets Today: A whiff of moderation as Fed hurtles to 50 point hike
19 April 2022
Global yields continued their March higher over the Easter period with the US 10yr yield hitting a fresh cycle of 2.88%, its highest since 2018.
Markets Today: Big hikes, more inflation, but bonds settle down
14 April 2022
Despite 50 basis point hikes by the Bank of Canada and the RBNZ over the last 24 hours, bond yields haven’t moved a great deal.
Markets Today: A very slight glimmer of hope on inflation
13 April 2022
US inflation rose as expected, but there’s still been a reaction in the bond markets.
AMW: First signs of rebalancing as inflation and yields rise in the US
12 April 2022
Higher inflation is starting to impact buying conditions in the US. Will we see the same trend emerge in Australia?
Markets Today: Stocks hit as yields rise higher still
12 April 2022
Bond yields continue to climb with risk assets now coming under pressures.
Markets Today: Rates push ever higher as food prices soar
11 April 2022
No respite from rising Treasury yields – 10s up another 4bps to 2.70% +32bps on week further hurting tech. stocks/NASDAQ vs other indices and boosting USD DXY index to 100.
Markets Today: Consumers still spending despite all the hike talk
8 April 2022
The reaction to the Fed minutes early yesterday morning continued to dominate markets overnight.
‘Diversity saved my life’: Building Australia’s defence capability
7 April 2022
Australia’s first female Deputy Chief of Army has a personal stake in building workplace diversity as she outlines her strategic insights – from geopolitics to sustainability - as special guest at the NAB Capital Markets 2022 conference.
Markets Today: Fed to slash balance sheet sooner rather than later
7 April 2022
FOMC Minutes reveal plans for much faster and more aggressive balance sheet reduction than 2017-2019
AMW: RBA pricing seems too aggressive over the next 2 years
6 April 2022
The RBA clearly signalled it is contemplating lifting rates over coming months, removing language about being “patient” and pivoting the RBA to once again being forward looking.
Markets Today: No patience left at RBA
6 April 2022
RBA’s April meeting yesterday left policy on hold at 0.1% but underwent a substantial rewrite to the post meeting statement.
Markets Today: Crimes, curves and patience
5 April 2022
Talk of Europe restricting Russian oil and gas has re-surfaced, driving oil prices higher
Markets Today: Fed ready for a big move, ECB staring inflation in the face
4 April 2022
Eurozone inflation printed a new record high with ECB hawks calling for policy action.
The AUD in March 2022
1 April 2022
AUD volatility picked up in March, almost all accounted for by Global factors.
Markets Today: Biden dips into reserves, Putin demands Roubles from today
1 April 2022
The main news overnight is the US decision to release 1m barrels a day for 6 months from their strategic petroleum reserve
Markets Today: Peace hopes fade, European inflation soars
31 March 2022
ECB Lagarde warning of supply and uncertainty shocks from the Ukraine war.
AMW: CPI Preview – Core inflation to surge further, pressuring the RBA
30 March 2022
NAB’s view is the RBA will start to hike by August 2022, depending on whether the RBA pivots to a forward-looking approach to policy.
Markets Today: Europe boosted by peace hopes
30 March 2022
Last night’s Federal Budget contained few surprises and won’t be a big influence on markets this morning.
Markets Today: The divided story of rate expectations
29 March 2022
It has been a nervous start to the new week with big moves seen in rates, oil and FX markets.
Markets Today: Ditching bonds like they are going out of fashion
28 March 2022
Economists outdo each other for Fed hikes with Citi calling four 50 basis point hikes back to back
Markets Today: American markets doing well because they are not Europe
25 March 2022
Investors are showing a preference for US equities with all three major indices enjoying a decent rebound after yesterday’s decline.
Growing Australia’s emerging tech future with $2.4b milestone
24 March 2022
Strong performance in the emerging technology sector shows how NAB is helping to create a robust industry ecosystem and deliver on what it takes to make it as a new digital business.
Markets Today: Getting ready to Ruble
24 March 2022
Russia intends to make ‘unfriendly’ countries pay for gas in rubles.
AMW: Australian budget and Federal election preview
23 March 2022
The Australian Budget is set to be unveiled next Tuesday night, ahead of the federal election that must be held on or before 21 May 2022.
Markets Today: Markets support the Fed’s balancing act
23 March 2022
Yields continue to rise with US 10yr now +9.6bps to 2.39%.
Markets Today: Powell talking faster than fast
22 March 2022
US bond yields march higher pre and post Powell speech
Markets Today: Peace hopes and understanding
21 March 2022
AUD/USD closed above 0.74 for the first time this year, cementing its position as the world’s strongest G10 currency year to date.
Markets Today: BoE far more cautious than the Fed
18 March 2022
Russia makes USD bond payments, adding to a sense of hope on Russia/Ukraine
Sustainability a driving force for capital markets
17 March 2022
It was the theme which came through strongly at every session at NAB’s Capital Markets 2022 conference, with ongoing sustainability momentum proving a game changer for issuers and investors.
Markets Today: A far from transitory Fed
17 March 2022
US Fed lifts cash rate 25bps, as expected
AMW: Inflation expectations mean CBs need to be hawkish
16 March 2022
In this Weekly we explore how central banks might balance the two conflicting forces – inflation expectations key according to Fed speak.
Markets Today: China hit by COVID and Russian relationship
16 March 2022
A switch of market focus from Ukraine to China (and Hong Kong)
Webinar: sustainable finance and the opportunities for financing social infrastructure
16 March 2022
Growth in sustainable financing continues to exceed market expectation.
Webinar
Markets Today: Will China pick a side?
15 March 2022
Yields have soared even as commodity prices have fallen.
Markets Today: Getting close to the edge
14 March 2022
Friday was a day of contrasting fortunes for US and EU equity markets.
Markets Today: ECB taper talk, while Lavrov tells-tales
11 March 2022
The ECB has surprised markets with an accelerated QE unwinding plan
Markets Today: Risk on, but so too is the war
10 March 2022
War still rages, but Eurozone stocks and EUR roar back to life
Markets Today: A glimmer of hope
9 March 2022
Markets remain volatile unable to confidently price implications from the news flow given the complex state of the global economy
AMW: Russia/Ukraine update: adding to existing price pressures
8 March 2022
Brent oil is up 30% on the week to US$130 a barrel and wheat, thermal coal and gas prices have also surged.
Markets Today: Day 12 brought more volatility, the search for safety
8 March 2022
Germany rejects proposed US, EU embargo on Russian oil imports
Markets Today: Oil keeps increasing, Aussie rises above the confusion
7 March 2022
Risk sentiment was hammered on Friday with sharp falls in stocks and a large rally in bonds
Markets Today: Powell, Putin and Prices
4 March 2022
EU considering further measures against Russia overnight which would allow them to impose tariffs and quotas to Russian exports, further disrupting global trade.
Markets Today: Hiking away from the fighting
3 March 2022
Russia’s Ukraine invasion and sanctions continue to roil commodity markets which were already tight given the increase in demand from a reopening global economy and low inventories
NAB talk to ASFA about its 10th Biennial Super FX Survey Results
2 March 2022
Head of FX Strategy, Ray Attrill and Director, Currency Overlay Solutions, Mike Symonds discuss the results of our 10th Biennial Superannuation FX Hedging survey with ASFA.
The AUD in February 2022
2 March 2022
Despite being the month when Russia invaded Ukraine, the high-low range in AUD/USD was less than in January.
AMW: Ukraine/Russia, implications for economies, central banks and Australia
2 March 2022
History suggests Russia’s actions in the Ukraine may result in only a short-lived episode of risk aversion with contemporary macro themes eventually reasserting themselves.
Markets Today: Ukraine war ratchets up risk
2 March 2022
Risk sentiment craters (S&P500 -1.3%) as the Russia/Ukraine situation has no sign of ending
Markets Today: Moderate contagion, so far
1 March 2022
News from Ukraine remain bleak with Russia Ukraine talks yielding no resolution while fighting rages on.
Markets Today: A swift response to the Ukrainian crisis
28 February 2022
Markets are opening up to headlines that ‘Putin puts Russian nuclear forces on ‘special alert’.
Markets Today: Putting the Squeeze on Putin’s ‘Squalid Venture’
25 February 2022
Biden announces range of sanctions on Russia, but not including SWIFT.
Markets Today: Don’t Panic!
24 February 2022
Ukraine/Russia tensions continue, no further military escalation apart from cyberattacks
Markets Today: Biden’s sanctions first step against Putin’s ‘invasion’
23 February 2022
Restrained market reactions so far (bar oil) to Russia-Ukraine developments…
AMW: Households to feel the squeeze if the RBA follows the market path
22 February 2022
How high rates will go in this cycle is a key question that is being asked by clients.
Markets Today: Putin supports Donbass powder keg
22 February 2022
Geopolitical tension lifted overnight with President Putin formally recognising the two Ukrainian breakaway regions of Donetsk and Luhansk and signing aid and cooperation agreements.
Markets Today: More war talk adds to a storm of uncertainty
21 February 2022
US President Biden is convinced Russia has decided to attack Ukraine
Markets Today: Ball of confusion as Biden and Putin fight war of words
18 February 2022
Yesterday’s glimpses of risk off vibes have intensified over the past 24 hours with Russia Ukraine tensions the main culprit.
Capital Markets 2022 post-conference video on-demand
17 February 2022
On-demand video from our virtual Capital Markets 2022 conference – driving growth and economic recovery.
Sustainable Finance Update: February 2022
17 February 2022
A look at what's been happening in the sustainable finance market in Australia and abroad.
Sustainable Finance Update: February 2022
17 February 2022
A look at what's been happening in the sustainable finance market in Australia and abroad.
Sustainable Finance Update: February 2022
17 February 2022
A look at what's been happening in the sustainable finance market in Australia and abroad.
Sustainable Finance Update: February 2022
17 February 2022
A look at what's been happening in the sustainable finance market in Australia and abroad.
Markets Today: Oil rising whilst Putin sits tight
17 February 2022
The standout data point overnight was US Retail Sales, which came in well above consensus expectations.
Markets Today: Risk-on as Putin backs-off (a bit)
16 February 2022
President Putin spoke to the media saying that "of course" Russia does not want war in Europe, but then added that his security concerns must be addressed and taken seriously .
AMW: WPI Preview and what does sustainably higher inflation mean?
15 February 2022
The Q3 result showed WPI wage increases broadly back to pre-pandemic patterns, and our forecast for Q4 sees an acceleration in private sector wages growth to 2.5% y/y.
Markets Today: Putin on the brink, Fed ‘out of sync’
15 February 2022
The S&P is back in the red (-0.5%) following reports of satellite images being circulated purportedly showing Russian troops leaving assembly points and moving to attack positions.
Markets Today: High stakes, higher prices, bigger hikes?
14 February 2022
Russia/Ukraine headlines weighed heavily on risk sentiment late Friday with the US again warning Russia could invade at any time.
Meet two female change-makers
11 February 2022
When it comes to breaking the bias, young businesswoman Tammy Green and NAB Private Client Executive Natalie Irvine have a story to tell.
Article
Markets Today: High stakes, higher prices, bigger hikes?
11 February 2022
US inflation comes in hot again with core measures showing wides-spread inflation pressures
ESG and securitisation: NAB in conversation with the CEFC
10 February 2022
NAB recently sat down with the Clean Energy Finance Corporation to discuss the increased focus on ESG activities for both issuers and investors in the securitisation world and what we can expect next.
Markets Today: Bond sell-off on hold ahead of US inflation numbers
10 February 2022
Lots of central bank speak from Fed, BoC, ECB and BoE today
Equity capital markets: riding the rollercoaster
9 February 2022
Volatility in equity capital markets has been a key feature of the past year’s activity and factors such as COVID-19, geopolitical tensions, global economic growth, interest rates and inflation will all have an impact in 2022.
Corporate origination: bonds observations and outlook
9 February 2022
A bumper year of corporate issuance in Australia and the re-emergence of value in offshore markets leaves Australian issuers with great funding choices heading into 2022.
Big year ahead for USPP
9 February 2022
The resilience of the US private placements market was evident through 2021 and the indicators for 2022 look even better.
Taking a global view
9 February 2022
NAB’s global debt syndicate teams share their insights on Asia, the US, Europe and the UK debt markets for the year ahead.
Bumper start for financial and high-grade origination
9 February 2022
Business is already off and running for financial issuance as another fast-paced and active January kicked off the year.
Outlook for listed investment vehicles
9 February 2022
Investors are seeking diversified unique investment alternatives more than ever, with further opportunities opening up this year as managers deploy a range of actions to provide value.
Supportive loans window for corporate borrowers
9 February 2022
Following a very busy end to 2021 driven by the emergence of M&A activity, loan markets in Australia for corporate borrowers look strong moving ahead.
Evolving securitisation: what to expect in 2022
9 February 2022
Expert views on the year ahead from NAB’s market-leading securitisation team, recognised as Australian Securitisation House of the Year for the 10th year running at the 2021 KangaNews Awards.
Making an impact with affordable housing
9 February 2022
Everyone deserves a safe and liveable home, which is why NAB is helping create more suitable homes for Australians in need.
Markets Today: China pushes back green agenda, UK heading for recession?
9 February 2022
The key question as yields march higher is how high can they go in this cycle?
AMW: What more do we now know from the RBA?
8 February 2022
The RBA made a second major change to their forecasts for inflation and unemployment in three months
Markets Today: Markets still guessing the path of inflation
8 February 2022
Inflation and related central bank thinking remains by far the bigger influence on market sentiment
NAB Rural Commodities Wrap: February 2022
7 February 2022
As agriculture’s record run continues, what’s ahead for 2022.
Insight
Markets Today: US kept working through Omicron peak
7 February 2022
US economy brushes Omicron aside with a strong January Labour market report
Markets Today: Tight squeeze or a gentle touch
4 February 2022
European yields soar as ECB pivots more hawkish – Lagarde fails to rule out hiking in 2022
Markets Today: A tale of two central banks
3 February 2022
Equities recovery continued overnight with both European and US markets extending recent gains.
The AUD in January 2022
2 February 2022
It was an eventful start to the year, AUD/USD tracing out a range from a high of 0.7314 (Jan 13) to a low of 0.6965 (Jan 30)
Markets Today: Markets still at odds with RBA and ECB. Who’s right?
2 February 2022
The US economy is travelling with some momentum along side a tight labour market and still elevated inflationary pressures
Markets Today: RBA to join the rate-rise race?
1 February 2022
Bostic retracts his 50bps comment, states “is not my preferred policy action” for March
AMW: Inflation indicators run hot, central banks will tilt to being more hawkish
1 February 2022
CPI figures last week illustrated Australia is not an island when it comes to global inflation pressures
Markets Today: Aussie dollar loses break point
31 January 2022
AUD below 0.70 to lowest since mid-July 2020 – month end could be a factor
Markets Today: The aftermath of the Fed
28 January 2022
Shares attempts a recovery but US equities back in negative territory in afternoon trade
Markets Today: Fed confirms move to post-pandemic policy
27 January 2022
Hawkish hold by the FOMC/Powell sees yields rip higher and equities reverse earlier gains
Markets Today: Ukraine fears creates a risk off sell off
25 January 2022
Geopolitics has had an influence on markets today, but the influence of the Fed should still not be underestimated.
AMW: What does low unemployment mean for RBA wages growth forecasts?
25 January 2022
In this report we explore the implications of last week's labour market data on the RBA wages outlook ahead of the RBA February Board Meeting and SoMP.
Markets Today: Turnaround in bonds ahead of FOMC this week
24 January 2022
Bond yields retreated at the end of last week even though the assumption remains that the Fed will signal a March hike.
AMW: RBA to end QE in February; Omicron set to peak, but adds inflation risk
17 January 2022
RBA to end QE in February while forecasts suggest Omicron is set to peak, adding greater inflation risk.
Markets Today: Fed ready to fight inflation on two fronts
17 January 2022
Latest flurry ahead of January 25-26 FOMC suggests March rates lift off expected.
The AUD in December 2021
11 January 2022
AUD/USD made its low point for the year on Dec.3 at 0.6993 – the pair’s only foray below 0.7000 in 2021.
Markets Today: Looking ahead to a better 2022
22 December 2021
US and EU equities rebound overnight with mostly positive Omicron news lifting sentiment while company specific news have also helped the cause.
Markets Today: Europe’s cold cold Christmas
21 December 2021
Commodity market news overnight is a fresh surge in European gas prices
Markets Today: A very cautious Christmas
20 December 2021
Expect a cautious start to the week with the Netherlands going into lockdown on Sunday
Markets Today: BoE lifts rates despite everything
17 December 2021
Against the consensus view for an unchanged outcome, the BoE unexpectedly also raised rates by 15bps to 0.25%.
Markets Today: Fed’s turbo taper and dots surprise
16 December 2021
The FOMC delivered a hawkish tilt for Christmas with the Fed dot plot showing three rate hikes in 2022 while also accelerating the taper profile.
Markets Today: It’s all about dots and jabs
15 December 2021
US PPI beat expectations fuelling hawkish FOMC expectations
Sustainable Finance Update: December 2021
14 December 2021
A look at what’s been happening in the sustainable finance market – in Australia and abroad.
AMW: Five themes for 2022 in charts that we should closely monitor
14 December 2021
2022 is set to become a year of central banks removing monetary accommodation.
Markets Today: A little more caution on a lot less news
14 December 2021
Slight risk aversion to start the week with equities down, yields down and US dollar up
Markets Today: UK empties the glass, but markets still half full
13 December 2021
Limited market reactions to ‘as expected’ US CPI – 6.8% headline highest since June 1982
Markets Today: Transmission and inflation – the two concerns
10 December 2021
Risk tone deteriorates in front of US CPI tonight, lack of positive new news on Omicron
Growth strategies from high performing businesses
9 December 2021
Our NAB Growth Strategies from High Performing Businesses virtual panel discussion provides unique perspectives and practical knowledge to grow your business. Hear from business owners within professional services who have taken advantage of growth opportunities over the past 12 months.
Webinar
Markets Today: Banks to sit on their hands, UK to cover their faces
9 December 2021
After a solid run in the previous two days, equities are taking a breather with European shares closing lower amid concerns over the need for a new round of covid restrictions.
Universities prepare with distinction in testing times
8 December 2021
Strong management and a robust institutional framework are driving an optimistic outlook in the higher education sector for when international students return to campus life.
Markets Today: Omicron’s not so bad, markets hope
8 December 2021
Markets continue to travel with optimism that Omicron will not have the severity of prior variants in terms of health outcomes, even if it is more transmissible.
AMW: Why don’t markets believe the RBA?
7 December 2021
Markets might be right on the interest rate outlook.
Markets Today: China and Omicron hopes drive a bounce back
7 December 2021
Positive Omicron reports coming from South Africa alongside an encouraging preliminary assessment from Dr Fauci over the weekend boosted sentiment with overnight news of policy easing in China, an additional bonus.
Markets today: Too tight too quickly?
6 December 2021
As we start a new week, Omicron headlines were positive on Saturday which may add to some stabilisation in risk sentiment.
Growing importance of FX management to super funds
3 December 2021
NAB's 2021 biennial Super Fund FX Survey highlighted that on average, close to 47% of funds’ assets are allocated offshore.
Markets Today: There’s a certain uncertainty
3 December 2021
Risk sentiment recovered overnight with virus/vaccine news flow being net positive
Markets Today: WHO offers a shot in the arm for markets
2 December 2021
The US CDC has just identified the first case of Omicron in the United States – joining the UK, Switzerland and Brazil overnight – at a time when US infection rates of the delta variant had already started creeping back up.
The AUD in November 2021
1 December 2021
The overwhelming negative influence late in the month was the emergence of the Omicron covid-19 variant and doubts over the efficacy of existing vaccines against this strain and all that might imply for the global economic re-opening process.
AMW: How high could inflation go? Quantifying goods upside risks for Q4 and Q1
1 December 2021
NAB expects that the RBA will raise rates from mid-2023 with a relatively aggressive series of hikes thereafter.
Markets Today: Who are you and what have you done with Jerome Powell?
1 December 2021
It has been a volatile session overnight driven by differing headlines around vaccine efficacy, capped off by very significant hawkish tilt by US Fed Chair Powell in Senate Testimony.
Markets Today: The bounce, the restrictions, the uncertainty
30 November 2021
Global markets have seen a modest retracement of many of last Friday’s violent ‘risk-off’ moves, with equities higher in Europe, so too US government yields up, as too is oil, but in all cases to nowhere near Friday’s closing levels.
ESG and stewardship: Steering the transition
29 November 2021
New NAB research shows how asset managers are working towards a more sustainable future through their investing activities and how companies can best embrace the change.
COP26 unpacked: Next steps for the transition
29 November 2021
Global experts give their insights into the recent Glasgow summit in a special roundtable discussion presented by NAB Corporate & Institutional Banking.
Markets Today: Did the markets overreact to Omicron news?
29 November 2021
Omicron uncertainty triggers a rethink on the global economic outlook
Markets Today: Talking turkey on central bank thinking
26 November 2021
BoE’s Bailey still guiding that rates will need to be higher ahead of the Dec MPC meet.
Markets Today: Is the US getting too hot to handle?
25 November 2021
Dovish Fed Official (Daly) flips to looking at accelerating tapering and to hikes in 2022
Changing mindset for digital risks – NAB cyber security roundtable
24 November 2021
The breathtaking pace of cyber attacks in a constantly evolving threat landscape needs an even faster shift in thinking for today’s business leaders.
Markets Today: Happy tales from Euroland
24 November 2021
Eurozone PMIs spring upside surprise, supporting EUR and holding USD in check
Place matters: ESG and communities
23 November 2021
As part of NAB’s Bank for Transition interview series we speak to Associate Professor Rae Dufty-Jones and Dr Neil Perry from Western Sydney University on the future of building sustainable communities and how government is listening.
AMW: Austria’s lockdown – should we worry?
23 November 2021
Austria has re-imposed lockdown restrictions with a sharp rise in hospitalisations being driven by both the unvaccinated and older fully vaccinated people.
Markets Today: US dollar rises as Powell stays put
23 November 2021
Ahead of a speech by President Biden later today on the economy and inflation, we got news that Jay Powell is to be re-appointed to a second term as Fed chair.
Markets Today: A speedy taper and European tantrums
22 November 2021
Rising COVID infections around Europe and news that Austria will go into lockdown rattled markets on Friday with 10y Bunds leading a decline in core global bond yields.
Markets Today: US continues a slow recovery, Europe’s mounting issues
19 November 2021
Fed speak was not market moving, but it is worth noting it is mostly turning slightly hawkish.
Markets Today: Caution after UK inflation surprise. Will Aussie wages ratchet up?
18 November 2021
Some in the market were positioned for an upside surprise in Australian wages data, but that wasn’t forthcoming, with the data bang in line with expectations at 2.2% y/y, back to pre-pandemic levels.
Markets Today: Tills ring in the USA, jobs bounce back in the UK
17 November 2021
Trio of strong data with US Retail, US Industrial Production, and UK Jobs all beating
NAB Superannuation FX Hedging Survey 2021: summary
16 November 2021
Our 10th biennial survey – the only survey of its kind to examine hedging techniques of Australian Super Funds – captures their shifting priorities in this rapidly changing landscape.
AMW: Wages growth back to pre-pandemic, RBA’s reaction function not clear
16 November 2021
The RBA’s wish of achieving wages growth at 3% plus is well known, however the reaction function is not as clear
Markets Today: Europe’s caution, China’s hope
16 November 2021
Data, supply and hawkish CB talk push core yields higher
COP26 week two: It’s a wrap
15 November 2021
After the fanfare of the opening statements and commitments, the second week at Glasgow meant bridging divides to reach a consensus deal in extra time as the Paris 2015 ambitions start to take flight.
Markets Today: US facing higher prices, more quits, falling sentiment
15 November 2021
US stocks had a positive day on Friday, so further recouping some of last Tuesday and Wednesday’s pre and post CPI weakness
Markets Today: Have a little faith
12 November 2021
The US has been out for Veterans Day, though stock markets have been open and have recouped a little of their pre and post US CPI losses
Markets Today: Eye-popping inflation doesn’t faze the Fed
11 November 2021
US CPI jumped in October with annual readings printing at new multi-decade highs, the broad base acceleration in prices challenges the transitory narrative and increases the pressure on a patient Fed.
Markets Today: Markets out of steam on inflation day
10 November 2021
Risk sentiment takes a turn for the worse with the first S&P down day in nine.
AMW: Government Debt and RBA balance sheet unwind musings
9 November 2021
In this Weekly we look at Australia’s latest monthly deficit figures ahead of MYEFO in December, which show the deficit is set to come in much better than expected even with Sydney, Melbourne and Canberra having been in lockdown
Markets Today: Taking a breather
9 November 2021
US equities close slightly higher while Europe starts the new week on the back foot.
Markets Today: Bond markets wrapped up in a ball of confusion
8 November 2021
There was a mixed market reaction to the better than expected US Payrolls print on Friday with equities up, yields down and the USD lower.
Rethink, Reset 2021: The Road to Net Zero
6 November 2021
An insight into what the road to carbon neutrality really looks like
COP26 week one: key takeaways
5 November 2021
While the world’s press and pundits assess the ongoing talks in Glasgow, we look at what’s happened so far and what to expect during this crucial time for climate action.
Markets Today: Bank of England Backs Down
5 November 2021
The BoE shocked markets overnight with its thunderous silence.
ESG and equity: positioning for success
4 November 2021
A new NAB report offers insights into how asset managers are incorporating sustainability metrics into their investing activities and what companies can do to develop best-in-class strategies.
Markets Today: Tighter but taking time
4 November 2021
No surprises from the FOMC in its formal policy pronouncement, the Fed announcing a November start to the QE tapering process at the as-expected pace of $15bn per month.
Markets Today: Central banks still grappling with what to do about inflation
3 November 2021
Global yields fall at the short end in the wake of the RBA’s dovishness yesterday.
Markets Today: RBA more uncertain than the cup winner
2 November 2021
Stock mostly firmer at start of new month, Europe faring better than US where S&P 500 ends +0.2%
AMW: Inflation print was real, RBA will need to revise up its track
1 November 2021
NAB recently brought forward its view of the first cash rate hike to mid-2023 with a relatively aggressive series of hikes thereafter to bring the cash rate to 1.75-2.00% by end 2024.
The AUD in October 2021
1 November 2021
The RBA’s failure to buy the bond in the days following the Q3 CPI report convinced the market the YCC target at least in current form, was set to be formally abandoned out of the 2 November Board meeting.
Markets Today: Going bond crazy
1 November 2021
US equities have remained resilient and oblivious to the volatility seen in rates markets amid increasing concerns over higher inflation and the prospect of Fed funds rate hikes coming sooner than expected.
Markets Today: Inflation, inflation, inflation. It’ll pass says ECB, again
29 October 2021
US equity continue to march to their own beat, oblivious to softer data releases and volatility in rates markets driven by Central Bank policy uncertainty.
Markets Today: Going bond crazy
28 October 2021
A volatile night for rates markets with short-end rates shooting up driven by hawkish signals from yesterday’s Aussie Q3 CPI and Bank of Canada meeting, but longer-end rates tumbling after the UK budget showed a sharply lower debt profile.
Markets Today: Summers’ Twitter Tirade as US inflation expectations hit 13 year high
27 October 2021
US and European equities have ended the day in positive territory, supported by solid earnings reports and better than expected US data releases.
AMW: RBA’s inflation tolerance, is it different to the US Fed, BoE or RBNZ?
26 October 2021
The RBA is likely to lag the US, UK and NZ in rates normalisation coming out of the pandemic.
Markets Today: Banks ready to tighten, Biden ready to spend
26 October 2021
Inflation fears continued to build amid the backdrop of a strong Q3 earnings season which is showing firms have some pricing power to pass on higher transitory inflation
Markets Today: Powell wants time to heal
25 October 2021
Friday’s main economic events, namely the ‘flash’ PMIs, tell us that there is little reason to fear stagnation, for the time being at least, given still elevated levels for all readings across Europe and the US.
Markets Today: Commodities down, but inflation fears stay high
22 October 2021
The biggest moves across Global Markets have been seen in the US rates market, where break-even inflation rates have jumped by a full 10 basis points at both 5 and 10 years.
Markets Today: The inflation debate heats up
21 October 2021
The S&P 500 has extended its winning streak to a sixth day with mixed earnings and a subdued Fed Beige report not enough to derail the positive vibes
ESG and capital report: equity
20 October 2021
Companies with strong ESG characteristics are experiencing increased availability of equity and a reduced cost of equity.
Markets Today: Earnings anything but a damp squid
20 October 2021
If the market is rethinking how soon the Fed might lift rates, there was nothing from incoming Fed speakers overnight to support this view.
AMW: Factors influencing Australian inflation
19 October 2021
In this Weekly, we look at some of the key risks around the Australian inflation outlook in the context of measured inflation turning higher globally.
Markets Today: Inflation and slowdowns. Isn’t there a word for that?
19 October 2021
Although the US is less exposed to the energy crunch, supply bottle necks are still affecting its economy, particularly in sectors there is a shortage of workers, raw materials, and chips.
Markets Today: Shares rising despite everything.
18 October 2021
Inflation fears are clearly lifting, with the latest driven by the rise in energy prices.
Markets Today: Have inflation concerns peaked?
15 October 2021
The sun has been shining on risk sentiment, commodity prices and commodity currencies overnight
Markets Today: Wages, fuel, supply chains and a not-so-transitory inflation number
14 October 2021
With markets having aggressively pushed Fed pricing into 2022, it is likely there is some thought that such a tightening will weigh on demand earlier.
NAB Education School Insights Forum with PeopleBench
13 October 2021
Join NAB Education’s special guests, PeopleBench, as they share the key findings of the recently released 2021 State of the Sector report.
Webinar
Markets Today: IMF warning central banks to act quickly on inflation
13 October 2021
The ‘Quit Rate’ is the highest on record, reflective of the ease which workers are switching jobs, in part at least for better pay or conditions elsewhere.
AMW: How should central banks respond to transitory inflation?
12 October 2021
We are unlikely to get a true read of the underlying pace of inflation until mid-2022, with both transitory and policy driven impacts continuing to play out.
Markets Today: Energy prices rise further, central banks more hawkish
12 October 2021
The rise in energy prices is fuelling concerns that the transitory lift in inflation seen in the wake of the pandemic may prove to be longer lasting.
Markets Today: Soft jobs numbers won’t dampen Fed’s tapering intention
11 October 2021
US September payrolls were a big miss, but strong revisions to prior months alongside a decline in the unemployment rate and lift in hourly earnings resulted in a relative subdued reaction by markets, suggesting the figures were strong enough to keep the Fed on track to begin its QE tapering programme in November.
Markets Today: Everyone seems happy to kick the can
8 October 2021
Risk asset have enjoyed a solid rebound overnight following news that the US Senate had reached an agreement to extend the debt ceiling through early December.
AMW: How quickly will activity rebound?
7 October 2021
High vaccination rates should give consumers confidence to resume economic activity as restrictions ease.
Markets Today: Where is the safe haven?
7 October 2021
Words from politicians of various stripes have gone a little way to alleviating two of the major concerns currently plaguing global markets, namely the ongoing energy crisis centred on Europe and the looming deadline for lifting or scrapping the US debt ceiling
NAB Corporate Cash Index: Q2 2021
6 October 2021
The NAB Corporate Cash Index draws on our own Corporate and Institutional Banking client insight analytics to reveal cash management trends.
Markets Today: Risk on, with inflation? RBNZ ready to lift rates
6 October 2021
European and US equities rebounded overnight with a stronger than expected US Services ISM supporting the view that it’s all good, notwithstanding the ongoing rise in energy prices and supply bottlenecks.
Markets Today: Stagflation consternation as OPEC sticks to the plan
5 October 2021
NSW meeting the 70% full vaccination target may be announced as early today (more likely tomorrow) in which case it may well attract more local media headlines than the RBA meeting.
Markets Today: Hospital
4 October 2021
US equities finish last week strongly with positive trial results from Merck's Covid treatment drug helping sentiment.
The AUD in September 2021
1 October 2021
Forces acting on the AUD (and other commodity linked currencies) independent of USD strength in September were largely China related.
Markets Today: China secures fuel at all costs
1 October 2021
US equity losses accelerate into Thursday’s close; worse month for S&P500 since March 2020
Markets Today: Markets calmer, but US budget deadline looms
30 September 2021
Equities made an unconvincing “buy the dip” bounce as yields consolidated their recent moves.
Markets Today: Dangerous Powell, markets run for cover
29 September 2021
Fed talk overnight tilted hawkish with the Fed’s Bullard advocating for two hikes in 2022 and also flagging the case for balance sheet unwind after tapering ends.
AMW: Population growth slows in the pandemic; implications for real rates
28 September 2021
For Australia, population growth should begin to recover when international borders are re-opened (latest guidance is from mid 2022).
Markets Today: Is reflation back? Commodities push even higher
28 September 2021
10yr Treasuries spend time above 1.50%. Neither equities nor USD seem to care….
Markets Today: Add the US debt ceiling to the list of concerns
27 September 2021
Week ends quietly after Evergrande/FOMC related volatility earlier in the week
Markets Today: Optimism. But why?
24 September 2021
BoE meeting more hawkish than expected, seen opening door to hikes by year’s end.
Markets Today: Not yet, but soon says the Fed
23 September 2021
Fed tees up November taper announcement, subject to reasonably good Sep. employment report
Markets Today: Waiting on Evergrande, the Fed & oil inventories
22 September 2021
US equities fail to bounce after Monday, with the S&P500 down -0.1 ahead of the FOMC.
AMW: RBA review?
21 September 2021
In this weekly we look at the recent reviews done at the Fed and the RBNZ to glean what a review into the RBA may recommend.
Markets Today: Evergrande Contagion Fears
21 September 2021
A torrid day for Hong Kong’s hang Seng index yesterday, driven by sharp fall in property sector stocks and led by a 16% fall in Evergrande ahead of Thursday’s bond coupon payment day, spilled over to the global arena on Monday with equities down sharply, bond yields lower and safe haven currencies in the ascendancy.
Markets Today: Just another cautious Monday
20 September 2021
Caution is in the air ahead of the FOMC this week where market moves on Friday tiled towards a mildly hawkish outcome.
ESG and capital roundtable discussion
17 September 2021
Responding to changing asset manager behaviours and expectations.
Markets Today: Lots of movement, not much direction
17 September 2021
There have been quite a lot of moving parts to the price action overnight.
Markets Today: High hopes or buying the dip?
16 September 2021
The lift in equities appears to be a case of ‘buy the dip’ with an absence of any positive news flow apart from the very second-tier Empire Fed Manufacturing Survey which surprised sharply to the upside.
Markets Today: Has US inflation peaked?
15 September 2021
The market was looking for an ease in US CPI readings and in the end the figures delivered a bit more than expected
AMW: What else happened at Jackson Hole?
14 September 2021
At the Fed’s annual Jackson Hole conference, markets understandably reacted to US Fed Chair Powell’s speech which effectively significantly divorced tapering from rate hikes.
Markets Today: Oil higher and RBA’s Lowe-down
14 September 2021
It has been a slow start to the week with little in the way of market moves outside of commodities. Markets overall appear to be in a holding pattern ahead of US CPI figures tonight and the FOMC next week . The S&P500 swung between small gains and losses to finish up 0.2% after five consecutive days of losses, helped along by energy stocks.
Markets Today: Three reasons to be cautious
13 September 2021
After a positive APAC lead, equities came under pressure again on Friday night following news the Biden administration was considering a new investigation into Chinese subsidies and their damage to the US economy
Markets Today: ECB, calibrating not tapering
10 September 2021
As expected, the ECB will moderate its Pandemic Emergency Purchase Program (PEPP) bond buying pace in Q4 with its December meeting now a key event. China makes historic sale of oil reserves weighing on oil prices.
Markets Today: Bank of Canada on pause, ECB unlikely to do the same
9 September 2021
US equity markets slip for second day, bigger falls in Europe amid more cautious mood. NY Fed’s Williams re-enforces markets views post-Jackson Hole, August payrolls.
Markets Today: RBA ready for the bounce back, eventually
8 September 2021
US investors have returned from the long weekend in a cautious mood. US and EU equities are broadly weaker with big tech outperforming, helping the NASDAQ stay on the green. Core yields are also higher with supply and ECB meeting on Thursday factors at play.
AMW: What happens to consumption as we learn to live with the virus?
7 September 2021
Household consumption is almost back to pre-pandemic levels in Australia with Q2 GDP figures showing consumption is now just 0.3% below pre-pandemic December 2019 levels.
Markets Today: COVID versus the central banks
7 September 2021
US markets being out for the Labor Day holiday hasn’t prevented global equity markets forging ahead. The US dollar has recouped a little of its (further) losses seen post last Friday’s US payrolls report and since AUD and NZD have been the two biggest beneficiaries of USD slippage of late, no great surprise they have lost a little more than most other currencies overnight.
Markets Today: Far from substantial progress, but just a temporary setback?
6 September 2021
US payrolls came in softer than the consensus (235k vs. 733k expected), but a soft print was widely expected given the weakness seen in high frequency indicators such as HomeBase. The surprise for markets was more on Average Hourly Earnings which were stronger than expected
NAB Renewables Survey: August 2021
3 September 2021
NAB’s second Renewables Survey shows the transition to renewable energy by Australian businesses remains slow but there's a growing recognition of the social and reputational benefits.
Markets Today: Only currencies making moves ahead of US jobs numbers
3 September 2021
In what have been predictably quiet bond and equity markets ahead of US payrolls tonight, currencies are continuing to enjoy their week in the sun.
The AUD in August 2021
2 September 2021
Almost, but not quite, a round-trip for AUD/USD in August.
Markets Today: Markets defensive on fears of slower jobs growth
2 September 2021
Ahead of US payrolls on Friday the decline in ADP private payrolls report overshadowed a better than expected ISM manufacturing print. The ADP miss points to downside risk to payrolls on Friday (the bad news), implying a likely delay to the Fed’s tapering decision (the good news).
Markets Today: Falling production, higher prices turns sentiment around
1 September 2021
Month end flows interrupt week-long USD depreciation trend but AUD and NZD have done enough work to suggest a base is now in after failing to take a hit from weak China PMI data.
AMW: Why activity will bounce once lockdown restrictions are eased
31 August 2021
In this Weekly we argue why we think activity should again rebound sharply once lockdown restrictions are eased. Key to how sharply activity can rebound is will people feel confident to resume activity and have household and business balance sheets been sufficiently insulated from recent outbreaks?
Markets Today: Hold on for the payrolls
31 August 2021
A quiet night with markets continuing to bask in the glow of Powell’s Jackson Hole speech. The explicit de linking of tapering to rate rises has allowed equity markets to rally, while yields have moved lower. The S&P500 rose 0.4% overnight and is up 1.3% since Jackson Hole on Friday.
Markets Today: Powell maintains taper silence
30 August 2021
The lack of a starting QE gun alongside a strong message that there is a stricter test for rate hikes compare to QE tapering resulted in a risk positive reaction to the much-awaited Fed Chair Powell’s Jackson Hole speech on Friday. A QE tapering decision remains live, although now November looks more likely than September.
Markets Today: Kabul blasts hit sentiment, markets hold for Powell’s taper talk
27 August 2021
Cautiousness has crept back into markets on the eve of Jackson Hole. Twin suicide attacks outside of Kabul airport has seen 12 US service members killed along with at least 60 Afghans. Coming up today, Fed Chair Powell gives his key mark address at Jackson Hole.
Markets Today: High hopes keep getting higher
26 August 2021
In a low trading environment, equities have edged higher again with procyclical sectors leading the way. The bond market continues to catch up to the positive vibes evident in other markets with core yields higher across the board.
Markets Today: More jabs, more optimism, higher Aussie dollar
25 August 2021
Another day of equity gains and commodities prices. Markets are still basking in the glow of the Pfizer/BioNTech vaccine having received regulatory approval on Monday. China’s delta outbreak also appears to be under control with two consecutive days of no new domestic cases.
Markets Today: Markets turn giddy on COVID news
24 August 2021
Risk assets have enjoyed a positive start to the new week with European and US equities extending Friday’s rebound. After a positive lead from Asia, European and US equities closed the Monday session with gains across the board, extending Friday’s rebound.
AMW: Australia’s path to reopening in international context
24 August 2021
The NSW and Victorian outbreaks remain stubbornly high in the face of strict lockdown measures, renewing focus on vaccinations as the path forward. The vaccination rollout is finding its gear, led by a sharp acceleration in NSW, putting the rollout on track to meet reopening thresholds by November.
Markets Today: Kaplan’s hawkish wings are clipped
23 August 2021
Mid-morning in Friday’s US trading day, Bob Kaplan said he may rethink his call for the Fed to quickly start to taper its $120 billion per month in bond purchases if it looks like the spread of the coronavirus delta variant is slowing economic growth. This didn’t have a big impact on bonds, but we can date the start of the run-up in US equity indices and a pull back in the USD to his comments hitting the screens, testament to the ongoing sensitivity the currency and risk markets are exhibiting to the question of when QE tapering starts.
Markets Today: Commodities fall, VIX jumps, Aussie hit hard as growth concerns rise
20 August 2021
US equities recover into the close calming market sentiment. Spike in VIX and rotation into defensive/tech stock point to a cautionary tale. European equities cannot escape the negative vibes from Asia
Markets Today: Central banks holding back
19 August 2021
Following a fair amount of volatility in the immediate wake of the FOMC Minutes US equities are lower, bond yields and the USD are lower, the latter allowing the AUD some relief after posting a new year-to-date low of 0.7229 in the run up to the Minutes, but the gains are already proving hard to hold.
Markets Today: Will RBNZ still hike rates today, even in a lockdown?
18 August 2021
The negative vibes from our APAC session extended overnight with softer than expected US data releases not helping the cause. US retail sales were broadly softer, and the NAHB housing market index also came in weaker than expected.
AMW: Acute lockdown impacts being seen in the labour market
17 August 2021
Lockdowns in Australia are likely to have a very acute impact on the economy, much more than what the RBA had pencilled in only a week ago. While NAB still expects a sharp rebound in activity when restrictions ease, the near-term impact is likely to be larger with lockdowns extending beyond Sydney (e.g. NSW, Melbourne and ACT).
Markets Today: China’s slowdown gives confidence another blow
17 August 2021
The much weaker than expected China data, lack of encouraging covid news over the weekend – no more so than in Australia – and the news out of Afghanistan which adds another dimension to ever-present geopolitical concerns (in this case, international terrorism) perennially cited as a risk to positive market sentiment – haven’t prevented the S&P 500 closing at a new record high.
Sustainable Finance Update: August 2021
16 August 2021
A look at what’s been happening in the sustainable finance market – in Australia and abroad.
Markets Today: Back to uncertainty
16 August 2021
US consumer sentiment plunges to below pre-pandemic levels with yields tumbling (US 10yr -8.2bps), but equities steady to higher with the S&P500 +0.2% to a new record high. For bonds, the plunge in consumer sentiment is an amber signal for the near-term, which if realised in real activity may impact on the timing and form of tapering and puts the focus squarely on retail sales on Tuesday
Markets Today: On the road to nowhere
13 August 2021
Quiet night but S&P 500 ekes out a third successive record daily close. Stronger than expected US PPI a reminder that supply chain disruptions are still with us.
Markets Today: Inflation the way the Fed wanted it
12 August 2021
US inflation moderates, taking the pressure down a notch and playing into the Fed’s transitory narrative. It’s no surprise to see yields and the USD lower in the wake. The US 10yr fell 1.5bps to 1.33%, though CPI was the catalyst for a larger fall after it reached an intra-day high of 1.3743%.
Markets Today: Will US CPI give markets the direction they are looking for?
11 August 2021
US Senate passes $550bn Infrastructure bill as expected but still a road ahead for passage by House. No positive covid developments overnight, but markets behaving as though there were. New record high for Eurostoxx 50, S&P500 closes flat, NASDAQ pressured by higher bond yields.
Markets Today: Code red, but focus is on the Fed
10 August 2021
Markets opened with a cautious mood to start the week , reflecting on both the stellar US payrolls report on Friday and the surge in the delta variant which has seen China tighten restrictions and Israel contemplate another lockdown. The Fed’s Bostic was the first voter to speak post payrolls, indicating that the Fed should taper after one or two more payroll prints.
AMW: RBA’s SoMP sees markets bring forward RBA pricing again
9 August 2021
Strong US Payrolls print, cementing expectations of a taper announcement at an upcoming FOMC meeting (September, November or December). As tapering becomes more certain, market focus will quickly change to the likely rate hike profile. Recent speeches by Fed Vice-Chair Clarida and Governor Brainard hint how this will evolve.
Markets Today: US jobs – is this ‘substantial progress’
8 August 2021
Friday was all about US payrolls and the report did not disappoint. Along with solid employment gains, there were improvements in the other metrics of the US labour market edging us one step closer to a Fed tapering announcement. Market reaction to the data saw the UST curve bear steepened with the 10y UST Note testing 1.30% while the USD ended the day broadly stronger.
Markets Today: Watch Germany go
6 August 2021
The S&P500 (+0.6%) hit another record high ahead of US Payrolls later tonight. Payrolls of course key to the Fed’s decision on the timing and pace of tapering (see Coming Up for details). Market moves elsewhere were more limited
Markets Today: Jobs boost for NZ, whilst US jobs fail to pick up
5 August 2021
Mixed US data and hawkish take on Fed Clarida shake markets. ADP is a big miss, US ISM a big hit.
Markets Today: A tale of two central banks, both focused on a strong recovery
4 August 2021
The antipodean central banks are taking an optimistic view of the recovery with the RBA pushing ahead with its tapering of asset purchases (despite the protracted Sydney lockdown) and the RBNZ has as good as said the central bank will lift rates in August.
Markets Today: More caution on manufacturing undershoot
2 August 2021
US equity markets have begun the new week in a tentative manner with a nervous feeling in the air. A slightly softer, but still elevated ISM print added fuel to peak growth concerns and the UST curve bull flattened.
The AUD in July 2021
2 August 2021
The AUD failed to benefit from the generally weaker USD, in contrast to all other major currencies which rose during the last week of July. From mid-month, a very sharp fall-back in iron ore prices, albeit a commodity with a very fickle and sometimes non-existent short term relationship with the AUD, drew attention
Markets Today: Has China fallen out of love with Aussie iron ore?
2 August 2021
Lots of economic data to digest on Friday but none of which had a major impact on markets, while Saturday’s China official PMI data showing a further (and bigger than expected) fall in its Manufacturing Index threatens to play with the grain of recent AUD underperformance.
Markets Today: US GDP was better than it looks
30 July 2021
US Q2 GDP was the data release to watch overnight and while the print missed expectations, a healthier US consumer that seemingly can’t get enough was the bright spot and carried the day.
Markets Today: Markets turn as Powell reaffirms ‘some way to go’
29 July 2021
A couple of comments from the Fed chair during the post-FOMC meeting Statement have been responsible for most of the market price action, notably, Powell’s remarks “we’re some ways away from substantial progress on jobs” and that “the Fed is nowhere near considering raising rates”.
Markets Today: Rocky road for China investors
28 July 2021
For the first time, we are now seeing contagion from the sell-off in Hong Kong and US-listed Chinese shares, to global markets – the NASDAQ in particular, ending the day down 1.2% in front of the earnings results from Apple, Alphabet and Microsoft.
Markets Today: Real yields reach lows, vaccine reach slows
27 July 2021
After an initial hint of contagion, European and US equities looked past Asian concerns over China’s regulatory crackdown, closing the day with modest gains at or near record highs. Meanwhile the real story in the rates markets has been the record move decline in the 10y US real rate.
AMW: Vaccinations and the path out of the pandemic
27 July 2021
The Sydney lockdown is in its fifth week and looks set to be extended well beyond July 30. Given the high transmission rates of the delta variant, snap lockdowns are likely to remain a ‘tool of first resort’ in controlling the virus until vaccination rates lift.
Markets Today: High hopes, big concerns and fewer babies
26 July 2021
Strong earnings continue to outweigh Delta concerns with the S&P500 reaching a new record high, So far 87% of companies reporting have beaten expectations and if maintained would be the strongest earnings beat since 2008.
Markets Today: Strong earnings, cautious ECB and NZ’s first day without QE
23 July 2021
Monday’s delta blues are once again talking back-seat in driving markets, the winning streak in the major US stock indices extending to a third day as incoming quarterly earnings reports for the most part continue to beat expectations, the S&P500 closing within 0.4% of last Mondays record high.
Markets Today: Risk back on with rebound expectations
22 July 2021
Strong earnings have swept away Delta concerns in the US with 85% of companies reporting so far beating expectations.
Markets Today: Markets recover, but why?
21 July 2021
The Delta variant continues to spread, vaccination rates have slowed, and case numbers are rising.
Markets Today: Markets Hit by the Delta Blues
20 July 2021
Markets have dipped sharply on the back of rising COVID cases.
AMW: Lockdowns to weigh heavily on Q3 but there’s a light with vaccines
20 July 2021
The Sydney lockdown is now in its fourth week with restrictions tightened further on the weekend. In this Weekly we update our estimates of the impact of these recent lockdowns.
Markets Today: OPEC drip feeds more oil
19 July 2021
The Aussie dollar is under pressure because of global market uncertainty over COVID says NAB’s Rodrigo Catril on today’s podcast.
Markets Today: Cautious for no clear reason
16 July 2021
There’s more caution in the markets today, even though numbers out of Australia, the US and China were better than expected. There’s a bit of battle fatigue hitting the market says NAB’s David de Garis.
Markets Today: More inflation, RBNZ moves first
15 July 2021
More inflation signals with the RBNZ moving towards rate rises. NAB’s Gavin Friend says there are no signs that other central banks will be following in a hurry.
Markets Today: Another US inflation surprise. Still transitory?
14 July 2021
US inflation has surprised again, up even higher than last month. But NAB’s Tapas Strickland says the indications are that it’s still transitory.
AMW: Closed borders suggest Australia’s labour market will remain (temporarily) very tight
13 July 2021
There are now less than two unemployed people for every job vacancy in Australia, a record low for this ratio.
Markets Today: Stocks high on earning hopes; times changing for ECB
13 July 2021
Following a positive lead from Asia, US and EU equities have kick started the new week with a positive tone.
Markets Today: Delta’s day off
12 July 2021
A swift turnaround in market sentiment on Friday. NAB’s Ray Attrill provides some of the reasons.
Markets Today: 2 percent or not 2 percent, that is the question
9 July 2021
The ECB’S new strategy has driven the Euro higher in a market which has generally been driven down by COVID concerns. NAB’s David de Garis explains what’s changed in the ECB’s 2% inflation target.
FX and your business weekly podcast: 8 July 2021
8 July 2021
Our new podcast series to help small to medium sized businesses make sense of current FX market movements.
Markets Today: Fed minutes trumped by ECB strategy review
8 July 2021
The FOMC minutes did little for cautious markets. NAB’s Gavin Friend says the outcome of the ECB’s Strategic Review should hold more interest.
Markets Today: Markets cautious on numerous fronts; RBA focuses on data not dates
7 July 2021
The RBA is focused on data not dates, says NAB’s Rodrigo Catril in today’s Morning Call. It’s data from the US and Germany that’s added caution to markets overnight, along with rising concerns about China.
Rethink, Reset 2021: Building Back Better in Infrastructure
6 July 2021
A look at how industry leaders are changing their behaviours across the infrastructure cycle from investment to planning to delivery.
AMW: What to look out for in Australian inflation
6 July 2021
Q2 CPI is just under four weeks away (on Wednesday July 28). In this week’s Weekly we have a first look at what CPI may print and highlight why we believe Core CPI is likely to remain subdued despite the pick-up seen in core inflation in the US, NZ and Canada.
Markets Today: Freedom Day for the UK and D-Day for the RBA
6 July 2021
What follows the QE2 in September? NAB’s Ray Attrill says the market is expecting a flexible target, but that we can expect a ripple of surprises from the RBA today.
Markets Today: Payrolls just the job for Goldilocks
5 July 2021
The Fed will not see the need to act swiftly after Friday’s payrolls numbers, but it will be a different story for thew RBA tomorrow. NAB’s Tapas Strickland says, given the improvements in the Australian economy, the need to run QE at $100 billion every six months is not there anymore.
The AUD in June 2021
2 July 2021
The AUD traded in a wider range in June relative to May
FX and your business weekly podcast: 2 July 2021
2 July 2021
Our new podcast series to help small to medium sized businesses make sense of current FX market movements.
Markets Today: The last day of treading water
2 July 2021
Despite lots of data for markets to chew over, they are looking for a directional lead from non-farm payrolls, says NAB’s Gavin Friend. Whether they’ll get it or not is the question.
Markets Today: Ignoring the talk, waiting for the facts
1 July 2021
It’s been a scratchy session, says NAB’s David de Garis, as markets shy away from sharp moves ahead of Friday’s payrolls data from the US.
Markets Today: Confidence rising but so is the Delta strain
30 June 2021
Reopening and vaccines are helping economies, but the Delta variant is still a concern for markets says NAB’s Rodrigo Catril, explaining today’s sideways moves.
Markets Tody: Reflation retreats a little as virus spreads
29 June 2021
Risk appetite retreats a little ahead of the non-farm payrolls on Friday and with the Delta strain delaying the reopening of economies, says NAB’s Tapas Strickland on today’s Morning Call podcast.
AMW: July 6 RBA Meeting Preview
28 June 2021
Analysis: RBA Preview – what to expect and what to watch at the July 6 meeting
Markets Today: Lock down means no RBA lowdown
28 June 2021
The impact of the latest lockdown and Biden’s stimulus backflip. NAB’s Ray Attrill on two bits of news for markets to respond to this morning.
Markets Today: Biden whittles down infrastructure plan to win support
25 June 2021
Equities driven higher by Biden’s infrastructure plan deal. NAB’s Gavin Friend says bond markets were unmoved by Fed speakers suggesting higher inflation for longer and rate rises sooner.
FX and your business podcast: 24 June 2021
24 June 2021
Our new podcast series to help small to medium sized businesses make sense of current FX market movements.
Markets Today: The crawl back is done, reflation takes over
24 June 2021
Bond yields are back to where they were before the FOMC meeting, says NABs David de Garis, with the focus now back on the reflation trade.
Digital investment – an AFR special report
23 June 2021
Digitalisation is enabling more aspects of our world to connect.
Markets Today: Fed cools things down, words from the RBA later
23 June 2021
The global reflation trade is not dead, says NAB’s Ray Attrill, as Fed speakers help markets further unwind their response to last week’s FOMC.
AMW: Terms of Trade & AUD
22 June 2021
Things were better in the old days
Markets Today: Swift turnaround as markets rethink FOMC response
22 June 2021
Last week’s post FOMC sell-off was overdone, says NAB’s Tapas Strickland on today’s Morning Call podcast, evidenced by a big reversal overnight. Although markets remain jittery.
Markets Today: Aussie dollar caught in the storm
21 June 2021
The US dollar continued to rise at the end of last week hitting a two-month high after the surprisingly bullish outlook from the Fed, but is the Aussie dollar paying too high a price?
FX and your business weekly podcast: 18 June 2021
18 June 2021
Our new podcast series to help small to medium sized businesses make sense of current FX market movements.
Markets Today: NZ GDP, Aussie employment both punch the lights out but currencies fall
18 June 2021
The US dollar continued to rise yesterday, after the hawkish comments from the Fed.
Markets Today: Fed speeds up rate hike roadmap
17 June 2021
At the FOMC meeting this morning the Fed upped their growth and inflation forecasts, with the dot plots pointing to rate rises as soon as 2023.
Markets Today: Retail sales numbers add to caution ahead of the FOMC
16 June 2021
The FOMC meeting is tonight and markets are being cautious, with little movement in bonds or equities. A weaker than expected set of retail sales numbers has added to the uncertainty.
Markets Today: Oil nudges higher
15 June 2021
Oil has hit a two-year high.
Taking payments to whole new level
11 June 2021
Immediate access to cash for Australian businesses through a PayPal and NAB collaboration.
Markets Today: Market unphased by US CPI
11 June 2021
US CPI was a higher than expected but the Market seems to have taken it largely in its stride.
Markets Today: Inflation – mixed signals and opinions
10 June 2021
Bond yields have fallen further overnight, in some cases to levels not seen for several months.
FX and your business weekly podcast: 9 June 2021
9 June 2021
Our new podcast series to help small to medium sized businesses make sense of current FX market movements.
Markets Today: Markets going nowhere yet US job openings boom
9 June 2021
Bond yields are pushing lower and market volatility is easing.
Markets Today: Goldilocks loses a little of her shine
8 June 2021
If non-farm payrolls gave markets a Goldilocks moment on Friday then maybe markets are already starting to question whether it was exactly what was needed.
AMW: What does neutral monetary policy look like today?
8 June 2021
Now that the other side of the pandemic is emerging, clients are starting to ask how high rates will go when central banks start to normalise policy.
Markets Today: US jobs numbers hit the sweet spot
7 June 2021
Not too good, not too bad, that seems to have been the market response to the non-farm payrolls numbers out of the US on Friday.
Markets Today: Taper torment
4 June 2021
There was speculation that the Fed would taper sooner rather than later.
The AUD in May 2021
3 June 2021
May was the lowest volatility month so far in 2021.
Markets Today: Beige Book highlights ‘brisk rise’ in input costs
3 June 2021
If there’s one takeout from the Fed’s Beige Book overnight, aside from the continued improvement in the US recovery, it was the rising concern about input costs.
FX and your business weekly podcast: 2 June 2021
2 June 2021
Our new podcast series to help small to medium sized businesses make sense of current FX market movements
Markets Today: No surprises from the RBA
2 June 2021
The RBA didn’t steer from its earlier stance that it was too soon to be looking at any changes in policy right now.
NAB Corporate Cash Index: Q1 2021
1 June 2021
The NAB Corporate Cash Index draws on our own Corporate and Institutional Banking client insight analytics to reveal cash management trends.
Sustainable finance update: May 2021
1 June 2021
A look at what’s been happening in the sustainable finance market - in Australia and abroad.
AMW: Inflation expectations lifting globally but not in Australia yet
1 June 2021
We look at inflation expectations which have rising strongly in the US and the potential implications for the US Fed.
Markets Today: China wants to curb the Yuan & grow the family
1 June 2021
The rising Yuan is clearly a concern for the PBoC who announced measures to tackle it, whilst Chinese authorities are now permitting families to have three children.
Markets Today: Month end comes early for some
31 May 2021
It was an early start to month-end on Friday, with the US and UK off on holiday today.
Markets Today: More central bankers wanting to ease off the pedal
28 May 2021
Three central bankers argued for a more rapid tightening of monetary policy overnight.
FX and your business weekly podcast: 26 May 2021
27 May 2021
Our new podcast series to help small to medium sized businesses make sense of current FX market movements.
Markets Today: RBNZ talks it up, Europe talks it down
27 May 2021
The RBNZ surprised many yesterday by indicating there could be an interest rate rise as soon as next year.
Markets Today: China gets Yuan up on the dollar
26 May 2021
The US dollar has fallen again with rises in the Euro and a shift up in the Yuan, but will it stick?
AMW: Australia will likely hold its AAA credit rating
25 May 2021
There's been some speculation that Australia’s AAA rating may be downgraded by one notch to ‘AA+’ in the wake of the Federal Budget.
Markets Today: Low volumes, more risk, less inflation concern
25 May 2021
Equities are back on the rise and bond yields are falling, slightly, as investors seem to have accepted the line of most central banks that inflation is only transitory.
Markets Today: Lagarde’s tapering reluctance
24 May 2021
The Euro lost ground on Friday as President Lagarde refused to commit to any schedule for talking tapering.
Markets Today: Another turnaround Thursday
21 May 2021
Equities bounced back in the US and Europe as markets re-evaluated the comments about the timing of tapering in this week’s FOMC minutes.
FX and your business weekly podcast: 19 May 2021
20 May 2021
Our new podcast series to help small to medium sized businesses make sense of current market movements.
Backing growth of the Australian hydrogen industry
20 May 2021
Hydrogen holds great promise in decarbonising hard-to-abate sectors in the transition to a low carbon economy, as Australia’s trading partners ramp up their commitments to net zero.
Markets Today: Fed taper talk pushes yields higher
20 May 2021
The FOMC minutes gave away more than expected with the Fed suggesting it might be appropriate at some point to discuss a plan to adjust the pace of asset purchases if the economic recovery continues.
Markets Today: US dollar heading to 2018 lows
19 May 2021
It’s been a mixed session for US equities overnight whilst bonds headed sideways.
AMW: Closed borders & labour market recovery
18 May 2021
The labour market recovery has been much faster than expected.
Markets Today: Uncertain markets change direction again
18 May 2021
US shares fell as investors once again weighed up inflation concerns.
Markets Today: Inflation, confidence and retail
17 May 2021
Share markets are riding high again in the US despite a triple whammy of disappointing reports.
Markets Today: Fewer jobless claims
14 May 2021
USA equities came bouncing back after yesterday’s sharp response to the higher than anticipated CPI numbers.
Markets Today: The inflation shock we were warned about
13 May 2021
US CPI numbers came in on the high side and markets have reacted swiftly with equities falling sharply and the bond sell-off pushing Treasury yields up.
FX and your business weekly podcast: 15 May 2021
12 May 2021
Our new podcast series to help small to medium sized businesses make sense of current market movements. This week's podcast includes a focus on inflation and FX implications .
Markets Today: Vertigo and inflation fears
12 May 2021
The risk off mood is being driven by increasing inflation concerns.
Markets Today: Inflation, hugs and shrinking deficits
11 May 2021
Inflation expectations continues to influence markets.
AMW: How to assess the Australian budget
10 May 2021
The Federal Budget will continue phase 1 of the Government’s fiscal strategy which seeks to secure Australia’s economic recovery from COVID by growing the economy to lower unemployment.
Markets Today: Does the US jobs shortfall vindicate the Fed’s cautious approach?
10 May 2021
US non-farm payrolls markedly undershot market expectations on Friday with just 266k more people in work versus the expectation of close to one million.
Markets Today: Let’s not get carried away
7 May 2021
The Bank of England has upped its forecasts for the growth of the UK economy this year – from 5 percent a few months ago, up to 7.25 percent.
Markets Today: Will the BoE taper before the Fed?
6 May 2021
The Fed’s board continues to talk down the prospect of tapering, pushing the argument that price rises will be transitory.
FX and your business weekly podcast: 5 May 2021
5 May 2021
Our new podcast series to help small to medium sized businesses make sense of current market movements.
Markets Today: Yellen’s rates call surprises
5 May 2021
Janet Yellen surprised the markets uggesting it might be necessary to raise interest rates to stop the economy from overheating.
AMW: How tight does the labour market need to be?
4 May 2021
How tight does the labour market need to be for the RBA to change forward guidance?
Markets Today: Demand beating supply
4 May 2021
Demand is outstripping supply on both sides of the Atlantic.
The AUD in April 2021
3 May 2021
The AUD/USD traded in a 2.86c range in April with a low of 0.7532 recorded on the first day of the month while a high of 0.7818 printed on April 29.
Markets Today: A bad end to a solid month
3 May 2021
Markets turned a little sour at the end of the week.
Markets Today: The price of supply chain disruption
30 April 2021
It’s been a choppy session for US stocks, even though the news on the economy was largely positive and earnings results have been strong.
Markets Today: Long ways to go, says Powell
29 April 2021
“long ways to go” is the Fed’s Jerome Powell’s take on the path to recovery for the American economy and the reason that rates won’t be lifting anytime soon.
Markets Today: Treading water
28 April 2021
Markets are treading water ahead of the FOMC meeting tomorrow morning.
2021 NAB Superannuation FX Hedging Survey webcast with ASFA CEO
27 April 2021
Our Head of FX Investor Sales APAC and Head of FX Research joins ASFA CEO to discuss the 2021 survey.
AMW: What does population say about the outlook for rents?
27 April 2021
We look at population dynamics over the COVID period and assess their implications for the outlook for rents.
Markets Today: Reflation reigns for now
27 April 2021
Equities are on the rise again as risk sentiment rises following largely positive data.
FX and your business weekly podcast: 26 April 2021
26 April 2021
A new podcast series to help small to medium sized businesses make sense of current market movements.
Markets Today: Risk on, for how long?
26 April 2021
Markets were on a positive frame of mind at the end of the week,
Markets Today: Rumoured US tax grab
23 April 2021
Shares in the US have fallen on news of a planned sizeable hike in capital gains for wealthy Americans.
Markets Today: Hawkish Bank of Canada boosts Canadian dollar
22 April 2021
The Canadian dollar has been boosted by the Bank of Canada markedly increasing their growth forecasts for this year
Markets Today: Markets cautious over speed of recovery
21 April 2021
There’s a cautious mood in the markets right now.
为什么使用远期合约？-进口商篇
20 April 2021
远期合约能够帮助企业控制成本且锁定企业的预算外汇汇率，本文通过例举三个被普遍使用的远期合约策略来阐述进口商们是如何通过这些策略来管理企业的外汇风险
AMW: Inflation?
20 April 2021
The signals to watch to see if central banks are right or wrong.
Markets Today: Wall St pulls back during quiet session
20 April 2021
US equities dipped a little overnight, pulling back from record highs.
12 months on from COVID-19: NAB Markets podcast
19 April 2021
What's the economic and financial markets landscape 12 Months on from the onset of the COVID-19 pandemic?
FX and your business weekly podcast: 19 April 2021
19 April 2021
A new podcast series to help small to medium sized businesses make sense of current market movements.
Markets Today: Bitcoin stalls but US economy set to rip
19 April 2021
There’s still plenty of positive sentiment around as the US, UK and Europe continue to vaccinate at pace.
Markets Today: Topsy turvey response to a good news day
16 April 2021
The news was largely positive overnight.
Markets Today: Earnings up; oil shoots higher.
15 April 2021
Equities came back off the highs we saw on Tuesday/Wednesday, but their decline didn’t reflect the sentiment in the market.
Markets Today: Vaccine slow down & inflation sign
14 April 2021
It’s been a session with mixed messages.
AMW: Macro-prudential?
13 April 2021
RBA and APRA suggest no imminent tightening.
Markets Today: US CPI today
13 April 2021
It’s been a fairly quiet session overnight.
FX and your business weekly podcast: 12 April 2021
12 April 2021
A new podcast series to help small to medium sized businesses make sense of current market movements.
Markets Today: New highs, fast jabs & more inflation brush off
12 April 2021
Equities in the US finished Friday on new highs.
Markets Today: Vaccine concerns
9 April 2021
Australia has become the latest nation to express concern about the use of the Astra Zeneca vaccines on young people, except here young is anyone under 50.
NAB Business Innovation Index 2021
8 April 2021
Innovation on the rise as Australian businesses double-down.
Insight
Markets Today: Markets lacklustre
8 April 2021
It’s been one of the quietest sessions for some time.
Markets Today: Consolidating and vaccinating
7 April 2021
There were no significant market moves overnight.
The AUD in March 2021
6 April 2021
The AUD/USD averaged almost exactly 0.77 over the month.
FX and your business weekly podcast: 6 April 2021
6 April 2021
A new podcast series to help small to medium sized businesses make sense of current market movements.
Markets Today: US bounce pushes equities to record highs
6 April 2021
US equities have been boosted by a string of positive data.
Markets Today: Markets rally ahead of Biden’s talk
1 April 2021
President Joe Biden and Treasury Secretary Yellen are about to give the details of their long-awaited infrastructure spending plan.
NAB Online Retail Sales Index: February 2021
31 March 2021
The NAB Online Retail Sales Index slowed (40.7% y/y).
Insight
Markets Today: Biden the builder
31 March 2021
US 10 year Treasury yields hit a 14 month high overnight, as the US dollar rose higher.
Markets Today: Open for business
30 March 2021
Early in the session the fire-sale of $20 billion of stocks held by Archegos Capital was all everyone was talking about.
AMW: What happens after JobKeeper?
29 March 2021
The JobKeeper wage subsidy scheme ended on Sunday March 28, how many people could potentially be displaced?
FX and your business weekly podcast: 29 March 2021
29 March 2021
A new podcast series to help small to medium sized businesses make sense of current market movements.
Markets Today: Block trades and blocked trade
29 March 2021
There was quite a bit of optimism in the air on Friday as we career towards the end of the month and the end of the quarter this week.
Currency spotlight: NZD
26 March 2021
This podcast focuses on the New Zealand dollar – what’s been happening and what lies ahead for the rest of the year.
Markets Today: Mixed sentiment sees markets move sideways
26 March 2021
It’s been another mixed session.
Sustainable finance update: March 2021
25 March 2021
An Australasian perspective on sustainable finance markets.
Markets Today: vaccine wrangles add to delay concerns
25 March 2021
Even though countries are pressing ahead with vaccine role outs, the speed of recovery might be slower than envisaged.
Markets Today: Oil price spills over COVID recovery concerns
24 March 2021
Market sentiment has switched in the last 24 hours, with concerns that the economic recovery from COVID-19 might be slower than anticipated.
The post vaccine economic and market outlook
23 March 2021
NAB recently hosted our inaugural Capital Markets 2021 Virtual Conference for issuers and investors.
Markets Today: US bond yields fall; risk sentiment boosts equities
23 March 2021
There were big rises in US shares overnight, with the NASDAQ rising 1.7% in this session, helped by a moderate fall in Treasury yields.
AMW: Budget deficit to improve with unemployment falling and iron ore elevated
22 March 2021
Last Thursday’s sharp fall in unemployment to 5.8% from 6.3% took the market by surprise.
FX and your business weekly podcast: 22 March 2021
22 March 2021
A new podcast series to help small to medium sized businesses make sense of current market movements.
Markets Today: SLR and all that
22 March 2021
The Fed will push on with ending its lower capital requirements held against Treasurys, sticking with a schedule that will see the so-called supplementary-leverage ratio (SLR) ending on 31st March.
Currency spotlight: Yen
19 March 2021
This podcast focuses on the Japanese Yen – what’s been happening over the last 12 months and NAB’s forecast.
Markets Today: Fed pushes bond yields up
19 March 2021
There was more reaction to the FOMC meeting with bond yields rising sharply.
Markets Today: Strong market reaction as Fed changes nothing
18 March 2021
The Fed has upped its growth expectations for the US economy, driven by the fiscal support and the vaccine rollout.
Markets Today: Slow movement, soft data
17 March 2021
There wasn’t much movement in shares, bond yields or currencies overnight, despite weaker retail numbers out of the US.
Markets Today: Clots slow down the EU vaccine rollout
16 March 2021
The fear of blood clots from injections means use of the Astra Zeneca vaccine has been suspended in an increasing number of European countries.
AMW: Maximum possible sustainable employment” – how much and when?
15 March 2021
Central banks are pursuing ‘maximum possible sustainable employment’, an understated evolution in inflation targeting.
Inflation: An inevitable outcome or not?
15 March 2021
NAB recently hosted the inaugural Capital Markets 2021 Virtual Conference for issuers and investors.
FX business focus: retail
15 March 2021
A new podcast that looks at what strategies clients used to manage the recent foreign exchange market volatility.
FX and your business weekly podcast: 15 March 2021
15 March 2021
A new podcast series to help small to medium sized businesses make sense of current market movements.
Markets Today: Yields higher, jabs faster, inflation expectations lower
15 March 2021
Bonds yields rose sharply again on Friday, with 10 year Treasuries reaching their highest level since February last year.
Currency spotlight: Euro
12 March 2021
This podcast focuses on the Euro - it's drivers and outlook.
Markets Today: ECB to buy faster, US job claims slowing
12 March 2021
Asset markets continue to be drawn by bond markets.
What to expect from public capital markets in 2021
11 March 2021
The Australian corporate bond market faces a range of opportunities and challenges over the coming year, a recent NAB Capital Markets Forum heard.
Markets Today: Low US inflation
11 March 2021
The story of the day was the softer US inflation numbers which saw yields pull back and helped stocks rise.
AMW: Underemployment back to pre-pandemic levels
10 March 2021
We investigate the implications of the sharp fall in underemployment.
Markets Today: Another big share flip
10 March 2021
Shares have reverted to a focus on tech in the US with a sharp rise in tech stocks.
FX business focus: importing
9 March 2021
A podcast that explores how Australian importers managed their foreign exchange strategies during and post the global pandemic.
Markets Today: Turning away from tech as yields push higher
9 March 2021
US Treasury yields pushed steadily higher overnight, reaching 1.6 percent for 10 year Treasuries.
Markets Today: US – strong jobs numbers, $1.9 trillion injection almost there
8 March 2021
The US senate has passed the $1.9 trillion stimulus package, so it will almost certainly become law this week.
Super funds face new challenges post COVID
5 March 2021
Superannuation funds will need to be nimble to take advantage of new investment opportunities, the Association of Superannuation Funds of Australia conference heard.
Currency spotlight: AUD/USD
5 March 2021
The AUD/USD in 2021 – the story so far and what lies ahead?
Markets Today: bond yields climb again
5 March 2021
Bond yields are on the rise, in the US and in Australia – for very similar reasons.
Markets Today: Bond yield rising sharply
4 March 2021
Bond yield have been rising sharply overnight.
Impact 2021: Greening the Economy
3 March 2021
Leaders in conversation on the Road to COP 26 and Beyond.
Markets Today: Australia’s growth, China’s warning
3 March 2021
All eyes will be on Australia’s GDP read this morning, which Ray Attrill says is expected to be close to 3% growth QoQ, driven by consumer spending.
AMW: RBA pushes back on the extent of yield moves
2 March 2021
The RBA’s 3yr YCC target and QE program have come under some challenge over the past week and a half amid the global bond sell-off.
FX business focus: Agribusiness
2 March 2021
A new podcast that looks at what strategies agribusiness clients used to manage recent foreign exchange market volatility.
Markets Today: RBA buys up ahead of today’s meeting
2 March 2021
The RBA might have left itself with very little to say today, having upped their bond buying in response to the sharp rise in yields last week.
The AUD in February 2021
1 March 2021
After what in the end turned out to be a month of consolidation for the AUD in January, with a monthly range of a little over two cents and the close only about half a cent lower than the open, February proved to be a much more volatile month.
FX and your business weekly podcast: 1 March 2021
1 March 2021
A new weekly podcast series to help small to medium sized businesses make sense of current market movements.
Markets Today: Bond yields switch direction as volatility continues
1 March 2021
Friday saw a reversal in the bond sell-offs earlier in the week, seeing 10 year yields in the US falling back top 1.4%.
Markets Today: A big bond sell-off
26 February 2021
Despite the increasing dovishness of central bankers the markets have been selling government bonds like they are going out of fashion.
Markets Today: The battle to be king of the doves
25 February 2021
Central bankers are fighting amongst themselves as to who can sound the most dovish.
Markets Today: Will the RBA play catch up?
24 February 2021
Many believe the RBA didn’t go far enough on Monday, buying up a $1 billion of bond purchases in the face of sharply rising bond yields.
Super funds look to updated currency strategies
23 February 2021
Turmoil in financial markets can have a dramatic impact on superannuation funds’ currency hedging strategies, the recent Association of Superannuation Funds of Australia conference heard.
AMW: JobKeeper’s end – economy to sustain momentum
23 February 2021
Yields are rising in Australia and globally as the reflation trade takes hold.
Markets Today: Bond yields go crazy, Aussie dollar hits another multi-year high
23 February 2021
Australian 10 year bond yields have nudged 1.65 percent for the first time since May 2019.
Markets Today: Multi-year highs for the Aussie Dollar and Sterling, whilst US yields shoot higher
22 February 2021
There was a big rise in the Aussie dollar and the pound on Friday, both reaching multi-year highs.
Markets Today: US equities fall; pound rises
19 February 2021
There have been big falls in US equities overnight after higher than anticipated jobless claims, showing its not a smooth recovery for the US.
Markets Today: US – more shopping, higher producer prices
18 February 2021
There was a strong bounce back in US retail sales in January.
The AUD/USD spot exchange rate in H2-2020 & 2021 outlook
17 February 2021
In July last year, NAB’s FX Strategy team revised our G10 currencies spot forecasts to reflect increased conviction that the US dollar’s decline had much further to run.
Markets Today: Treasury yields rise sharply as reflation rolls on
17 February 2021
Equities were mixed in the US overnight, but the S&P 500 did manage to claw out a new record high, whilst the NASDAQ fell.
AMW: Exporters navigate trade tensions & find alternative markets
16 February 2021
In this Weekly we delve into monthly trade figures and show how Australian exporters are finding markets for some of the goods subject to Chinese restrictions.
Markets Today: US rest day can’t stop reflation
16 February 2021
America has been off work for Presidents Day, but that hasn’t stopped markets optimistically looking to a world where COVID-19 isn’t centre stage.
Markets Today: All the ex-President’s men
15 February 2021
There’s absolutely no surprise that Donald Trump has been acquitted in Washington,
Markets Today: Powell’s slow road
12 February 2021
It’s been a relatively quiet 24 hours with only slight market moves
Markets Today: Markets bide their time
11 February 2021
Markets have been fairly subdued on the back of soft inflation numbers in the US, and as investors hold off for any revelations from Jerome Powell as he addresses the Economic Club of New York.
Sustainable Finance Update February 2021
10 February 2021
According to BNEF, 2020 was a record year for sustainable debt issuance with annual issuance reaching US$732.1 billion across both bond and loan formats, representing a 29% uplift on 2019 levels.
Markets Today: China’s credit surprise boosts Euro. Here’s why.
10 February 2021
The Euro gained on two fronts overnight.
AMW: Vaccine success in Israel bodes well for the outlook
9 February 2021
Australia's vaccine rollout is due to start in late February with the ambitious target of having the population vaccinated by October.
Markets Today: Yellen denies great inflation expectations
9 February 2021
Janet Yellen shrugged off concerns about the Biden stimulus package unleashing inflation on the US economy.
Markets Today: Inflation debate over Biden’s stimulus as jobs growth disappoints
8 February 2021
Friday’s non-farm payrolls numbers in the US surprised on the downside.
Markets Today: UK & US blossom while Europe struggles
5 February 2021
The UK and the US are well ahead of Europe on vaccine rollouts, and that seems to be the major focus of markets right now.
Markets Today: New Zealand – first out?
4 February 2021
New Zealand’s labour force data yesterday showed a strong fall in unemployment, possibly down to NAIRU levels.
Markets Today: Philip Lowe set to explain the dovish RBA stance
3 February 2021
All eyes and ears will be on Philip Lowe’s speech today, following the very dovish outlook from the RBA yesterday.
AMW: RBA forecasts to be revised higher, eyes on Lowe for guidance
2 February 2021
Today sees the first RBA Board Meeting of the year.
Markets Today: Moving on from GameStop, back to abnormality
2 February 2021
In normal times an episode like the Reddit induced short squeeze would eventually see markets return to normal.
The AUD in January 2021
1 February 2021
After the big gains during November and December last year, the first month of 2021 has been a period of consolidation for AUD/USD.
Markets Today: Reddit warriors, vaccine nationalism and Morrison’s budget repair
1 February 2021
Equities were hit hard on Friday as the Reddit warriors made their mark.
Markets Today: Reddit Rebels shut out; US growth slows
29 January 2021
US equities have bounced back after a day influenced by speculative trading on retail platforms with investors spurred on by chatter on Reddit.
Markets Today: Big falls in shares ahead of a dovish Fed
28 January 2021
The markets have so far been unmoved by the FOMC announcement, perhaps because it said so little.
Markets Today: Asian equities hit, US stimulus delayed, Aussie inflation today
27 January 2021
The IMF has upped their forecasts for global growth but, as Tapas Strickland suggests on this morning’s podcast, markets don’t tend to pay a lot of attention to these numbers
AMW: A 2-year yield target as an exit strategy from the 3-year yield target?
25 January 2021
This week we review the range of views within NAB’s research teams about the future of various conventional and unconventional monetary policy settings.
Markets Today: Vaccine delays throw dampener on recovery timelines
25 January 2021
Markets turned sharply to a risk-off mood at the end of last week, on the realisation that vaccine roll outs will take longer than hoped whilst infections are growing.
Markets Today: ECB sticks with bond buying plans
22 January 2021
The ECB changed nothing overnight, with President Lagarde saying risks remained on the downside.
Markets Today: Inauguration Day highs
21 January 2021
New highs on the NASDAQ and S&P500.
AMW: Housing market activity soars but with little implications for the RBA
20 January 2021
An internal RBA document obtained under a freedom of information request discussed the likely impact of low interest rates on asset prices (see RBA FOI).
Markets Today: America goes gaga as Janet Yellen acts big
20 January 2021
It’s Inauguration Day, or it will be when Wednesday eventually ticks round in the US.
Markets Today: Trump’s last day – how much will Biden undo?
19 January 2021
Markets are looking through the prospect on any unrest on inauguration day, but the more immediate question is what will the President do today?
Markets Today: Is Biden’s honeymoon over already?
18 January 2021
Markets responded at the end of the week to Joe Biden’s proposals for stimulating the US economy.
Markets Today: Bond yields rise as Powell puts paid to tapering
15 January 2021
Bond yields were already on the rise before Fed chairman Jerome Powell talked down the likelihood of any easing in bond purchases this year.
Markets Today: Bond yields fall on less taper talk
14 January 2021
An ensuing impeachment of the US President continues to be of little concern to the markets.
Markets Today: Treasury appetite is still strong
13 January 2021
With yields rising there’s been a question mark over whether the appetite for treasury bonds is falling.
AMW: COVID outbreak under control
12 January 2021
Some small short-term cost to growth due to shutdowns and border re-closures, but medium-term outlook remains brighter.
Markets Today: How much stimulus is too much?
12 January 2021
Bond yields continue to rise in the US as markets prepare for an expected multi-trillion dollar stimulus package from the President-elect.
The AUD in December 2020
11 January 2021
A month ago, we remarked that it was hard to recall a month where AUD/USD made its low point on the first trading day of the month and its high on the last, as was the case in November.
Markets Today: A Blue Wave into 2021
11 January 2021
The Morning Call is back, and the new year has kicked off pretty much where we left off.
Markets Today: US pays out whilst UK digs in
22 December 2020
You might have expected a positive market response as the US politicians reach agreement on a fiscal stimulus bill, particularly as Europe became the latest region to approve a vaccine.
21 December 2020 Alan Oster Podcast – Coronavirus and the economy
21 December 2020
NAB Group Chief Economist Alan Oster talks about the latest impacts of the Coronavirus. Listen now.
Podcast
Markets Today: US deal imminent. UK marooned. Brexit all at sea
21 December 2020
There’s a strong expectation that the US fiscal stimulus deal will be resolved in the next few hours.
Markets Today: One minute to midnight on US & UK-EU deals
18 December 2020
The post-Brexit trade deal and the US fiscal stimulus deal have been pushed back time and time again, but we really are at the point of no return.
Markets Today: Imminent fiscal deal
17 December 2020
There's rising hopes that a US fiscal stimulus deal is imminent.
Financing to support the climate transition
16 December 2020
Companies that need to adapt and transition to lower carbon and more sustainable growth are tapping into a range of new sustainability-linked debt offerings to help finance this transition.
Markets Today: Hope springs eternal, on both sides of the Atlantic
16 December 2020
Equities have climbed higher in the US and Europe on the hopes two deals will be struck this week.
AMW: Australia China trade tensions
15 December 2020
The Weekly provides an update on the China-Australia trade and the diplomatic dispute.
Markets Today: Vaccine optimism dimmed by new strain
15 December 2020
The markets lost some of their mojo today.
Sustainable Finance Update December 2020
14 December 2020
Q3 2020 saw increased issuance momentum with a record US$155bn of sustainable finance debt raised fuelled by the COVID-19 pandemic and global sustainability concerns.
New pathways for the future of business
14 December 2020
The banking sector has an important role to play in supporting industry through the economic recovery.
Markets Today: US in warp speed whilst UK dithers
14 December 2020
The inoculation program in the US has ambitious targets.
Markets Today: UK-EU no deal looms
11 December 2020
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.
Markets Today: A big day for Europe
10 December 2020
Ursula von der Leyen and Boris Johnson have been meeting over dinner to discuss the progress of the UK-EU trade deal.
Leading the way towards light economies
9 December 2020
Europe’s Green Deal sets the 27 member states on a path to becoming carbon neutral by 2050. District heating and cooling is part of the solution.
Markets Today: UK trade talks to get an injection, but the prognosis is not good
9 December 2020
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.
AMW: Global inflation & rates – what the latest research suggests
8 December 2020
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.
Markets Today: UK & EU leaders to hold last ditch meeting, pound is choppy
8 December 2020
The UK-EU trade deal really is going right down to the wire – and the wire itself keeps getting pushed back.
A technology-led recovery from COVID-19
7 December 2020
The effects of COVID-19 will be felt for years and cut across all prisms of life as we know it. What does Australia’s National Outlook look like now?
Markets Today: 60 percent chance of a UK-EU trade deal
7 December 2020
US equities reached new highs again on Friday even though the jobs numbers were lower than anticipated.
Markets Today: One deal down, two to go
4 December 2020
OPEC+ has struck a deal to slowly increase oil production from next month, rather than letting the production cuts fall off a cliff.
Liquidity management beyond the crisis
3 December 2020
2020 has presented some unique challenges for corporate treasurers. Looking ahead, now is the time for many to review liquidity management strategies to ensure they are well placed as we adjust to a new post COVID-19 normal.
Markets Today: More US stimulus talk; less Brexit hope
3 December 2020
The pound has taken a sharp hit as Brexit talks don’t seem to have progressed much at all.
The AUD in November 2020
2 December 2020
It’s hard to recall a month when AUD/USD made its low point on the first trading day of the month and its high on the last.
Markets Today: China’s PMI high, Australia’s GDP bounce, the Brexit tunnel, OPEC delays and a US stimulus deal?
2 December 2020
There’s a positive vibe about this morning, pushing equities higher and Treasury yields have seen a sharp rise too.
Overcoming the COVID-19 supply chain disruption
1 December 2020
Thousands of businesses around Australia are re-assessing their supply chains, inventories and financing options to deal with future shocks in the wake of disruptions caused by the pandemic.
AMW: Making a molehill out of a fiscal cliff?
1 December 2020
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.
Markets Today: Month-end rebalancing
1 December 2020
The US dollar was losing ground for most of the session before a sudden reversal that knocked the Euro off a multi-year high.
Markets Today: Gone fishing
30 November 2020
The pound has already recovered the losses it made on Friday, when Brexit rhetoric was ramped up on both sides of the English Channel.
Markets Today: Lane’s credit concerns
27 November 2020
The ECB’s Philip Lane expressed concern about the tightening of credit standards which could impede the European recovery.
Markets Today: Not much to be thankful for
26 November 2020
It’s Thanksgiving today in the US and markets have been cautious ahead of the holidays.
Markets Today: Trump relents, oil climbs and Dow hits new high
25 November 2020
New positivity with the Dow breaking 30,000 for the first time, due in part to hopes for; a vaccine and a peaceful transition for the Biden administration.
AMW: Labour market improving more quickly than expected?
24 November 2020
The labour market has improved sharply over recent months with employment outside of Victoria almost back to pre-pandemic levels.
Markets Today: More positive vaccine news, but equities are cautious
24 November 2020
Astra Zeneca announced the results of their trials, with efficacy up to 90 percent with a drug that is cheaper to produce and easier to distribute.
Markets Today: Revised Aussie growth forecast and a Fed-Treasury spat
23 November 2020
NAB has revised its forecasts for growth in the Australia economy.
Markets Today: Lockdown jitters
20 November 2020
The markets are more focused on the short-term economic hit of lockdowns than the longer-term vaccine fuelled positive outlook.
Markets Today: Lockdowns & infections overshadow more vaccine news
19 November 2020
Markets continue to be torn between the good news and the bad news.
Markets Today: Markets take a breather, but standby for more vaccine news
18 November 2020
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.
AMW: Where to now for office and retail property?
17 November 2020
As the economy starts to recover, the likely pace and strength of the recovery in the office and retail property markets is uncertain.
Beyond 2020: Creating opportunities
17 November 2020
Over recent months, every organisation has had to adapt and innovate to find new ways of doing business.
Markets Today: And another one
17 November 2020
Markets have been lifted higher on further vaccine news, with Moderna saying their trials have shown 94.5 percent effectiveness.
Markets Today: Vaccine vs infections – the only news that seems to matter
16 November 2020
Last week was a volatile one, but markets enthusiasm stemming from the hope of a vaccine led the charge, with some shifting of focus on equity markets.
Markets Today: Markets realise there’s tumult before a vaccine
13 November 2020
This week’s earlier optimism over a possible vaccine for COVID-19 has disappeared completely, with equities falling and bond prices rising.
Markets Today: Vaccine rally continues but central banks more guarded
12 November 2020
Even though the markets continue to respond positively to the hope of a vaccine, central bankers seem to be taking a more cautious tone.
Markets Today: Tech hit by vaccine and antitrust moves. RBNZ today, less dovish perhaps?
11 November 2020
Those vaccine hopes continue today, even though there were warnings from Fed officials that the economy still faced ongoing impacts from COVID-19, with structural differences highlighting the need for the fiscal stimulus that now seems unlikely to happen this year.
AMW: Loan deferrals are falling, while prices and mortgage activity recovers
10 November 2020
APRA recently released updated details on the major banks’ home loan deferral scheme.
Markets Today: Markets injected with vaccine furore
10 November 2020
The markets have scarcely had time to respond to the news that Joe Biden is the next President of the United States than we’re it with the (potentially bigger) news that Pfizer have successfully completed stage three of their COVID-19 vaccine trials, with an astonishing 90% success rate.
Markets Today: A blue wave is still possible, after two months of ‘no
9 November 2020
There’s still an outside chance that in January the Democrats could take control of the Senate.
Markets Today: Fiscal stimulus desperately needed
6 November 2020
Markets have adopted a risk-on stance with the hope that there'll be fiscal stimulus to counter the impacts of COVID-19.
Markets Today: Divided they stand
5 November 2020
US equities have climbed as the US goes through Wednesday without a clear winner in the election.
Markets Today: Lowe goes heavy, US stocks run hot on Biden hope
4 November 2020
The RBA announced cuts to interest rates and a $100bn bond buying program yesterday.
AMW: The Inflation debate: up, down, or unchanged?
3 November 2020
Core inflation has been below the RBA’s 2-3% target since 2014, and for many central banks around the world, inflation has been well below target for at least a decade.
Markets Today: Markets turn green on hope of a blue victory
3 November 2020
Markets flipped from Friday’s share and bond sell-off, with more optimism a day or two out from what is expected to be a Biden victory.
The AUD in October 2020
2 November 2020
AUD/USD traded a more subdued range in October than in September (less than 2 ½ cents versus more than 4 cents in September).
Markets Today: Prepare for a bumpy start to November
2 November 2020
After the markets finished with a strong equities and bond sell-off on Friday, expect a busy week, with the RBA, the Fed and Bank of England all meeting, with the difficult job of determining how to see the economy through rising infection numbers.
Seven lessons on social value
30 October 2020
We’ve partnered with The Australia—United Kingdom Chamber of Commerce and the New South Wales Government to launch the second business insight report in this three part series: Impact 2020: Seven Lessons in Social Value.
Sustainable finance update: October 2020
30 October 2020
Green, social, sustainability and sustainability-linked bond market nearly doubles in Q3 2020.
Markets Today: Markets bounce back – for now
30 October 2020
Markets turned around again with equities rising sharply.
Markets Today: Markets hit hard
29 October 2020
Markets have been hit by concerns over COVID-19 and the US election aftermath.
Markets Today: Is the Biden Trump gap closing?
28 October 2020
There’s a risk that next week’s US election is more contestable than we might have considered a week ago.
27 October 2020 Alan Oster Podcast – Coronavirus and the economy
27 October 2020
NAB Group Chief Economist Alan Oster talks about the latest impacts of the Coronavirus. Listen now.
Podcast
Markets Today: COVID concerns get classic risk-off treatment
27 October 2020
Markets are displaying classic risk-off moves today – with equities down, bond prices up and the US dollar the safe haven currency of choice.
AMW: How big will the RBA’s QE program have to be?
26 October 2020
The RBA is widely expected to ease policy further in November by cutting the cash rate to 0.10%, along with the 3-year yield target (YCC) and the TFF rate.
Markets Today: Markets running scared at start of Halloween week
26 October 2020
Last week finished with US stocks down, the US dollar down and the price of bonds down.
NAB Business Wellbeing Survey Q3 2020
23 October 2020
NAB launches a new measure of business wellbeing.
Insight
Markets Today: Trump’s last stand
23 October 2020
In a few hours Joe Biden and Donald Trump go head to head in the last election debate.
Markets Today: Look who’s talking (x2)
22 October 2020
Talks are back on.
Markets Today: Still wishing and hoping on stimulus deal
21 October 2020
Equities are higher in the US today.
AMW: Population 1.6m less than previously projected by 2030
20 October 2020
Australia’s population growth is expected to slow sharply over the next two years, primarily due to net migration given closed international borders.
Markets Today: Deal or no deal, transatlantic edition
20 October 2020
Markets are waiting to see the outcome of two on again off again decisions, both with sizeable economic consequences.
Markets Today: A calm Friday, but it could be a volatile week
19 October 2020
After a fairly volatile week markets were calmer on Friday on the back of positive retail numbers from the US.
Markets Today: Risk off mood as virus cases rise
16 October 2020
There’s a strong risk off mood in the air, which has pushed the US dollar higher and hit stocks.
Markets Today: Trump talks it up. Will Lowe talk it down?
15 October 2020
Philip Lowe, the Governor of the RBA, is talking this morning.
Markets Today: The Aussie coal ban and earnings caution
14 October 2020
The Aussie dollar has taken a hit twice in the last twenty-four hours.
AMW: House prices holding up more than rents as population growth slides
13 October 2020
House prices have held up surprisingly well during the pandemic, with household incomes supported by various measures (JobKeeper, JobSeeker, super withdrawals and interest rate cuts), while repayment deferrals have limited forced sales to date.
Markets Today: Aussie down with Renminbi; Barrett trumps stimulus on Columbus Day
13 October 2020
The US Senate is seemingly preoccupied with pushing through Amy Coney Barrett as Supreme Court nominee, casting aside any bandwidth for fiscal stimulus talks.
Markets Today: US dollar sinks along with Trump’s hopes
12 October 2020
The US dollar hit a two and a half year low on Friday, whilst the Chinese Yuan showed big gains.
Markets Today: Markets cling on to stimulus hopes, but maybe after a Biden victory
9 October 2020
Donald Trump continues to talk about a stimulus deal, even though he said it had been shelved.
Markets Today: Markets bounce back on stimulus hopes
8 October 2020
There’s been a market rebound on the hope that some sort of stimulus deal in the US is still possible before the election.
Markets Today: Markets take a hit as Trump ditches stimulus talks
7 October 2020
There’s been a strong reaction in the equity and currency markets to Donald Trump’s sudden decision to stop talks about a fiscal stimulus, even though he tweeted about the need for it whilst in hospital over the weekend.
AMW: Stay-at-home holidays won’t offset the COVID-19 hit to inbound tourism
6 October 2020
Domestic and international visitors spent $152bn in Australia in 2018-19, $39bn by international visitors. However, the pandemic has seen international and domestic visitor spending collapse amid borders closures and restrictions.
Markets Today: Don’t be afraid of COVID
6 October 2020
As the President prepares to leave for the White House there’s still hope that a deal will be reached to pass version 2 of the Heroes Act, adding more stimulus to the US economy.
The AUD in September 2020
5 October 2020
It was quite a fall from grace for AUD/USD in September.
Markets Today: One big October surprise
5 October 2020
Friday was certainly a gamechanger. The US President went into hospital without a clear picture of his condition. Now, it seems he could be returning to the White House as soon as today. So, do the markets take back some of their risk concerns, and focus on the positives of the situation?
Markets Today: Fiscal stalemate and long tunnel vision
2 October 2020
Equities in the US rose overnight despite a stalemate on the fiscal stimulus package.
Markets Today: Strong US data; no room for Chicken Lickens
1 October 2020
Equities have been helped by some strong data from the US and continued hope on a stimulus deal.
Markets Today: No more heroes anymore
30 September 2020
Despite a big jump in confidence in the Conference Board numbers for the US, there’s not much optimism in the markets today.
Markets Today: Taxing issues don’t hold back risk sentiment
29 September 2020
US and European equities rose sharply, with rising confidence seeing a fall in the US dollar and a rise in the Aussie.
AMW: budget preview, what we know so far
28 September 2020
The Federal Budget is on October 6 and today's Weekly summarises the key budget initiatives that will likely be announced.
Markets Today: Courting support ahead of election debates
28 September 2020
COVID19 cases continue to rise in Europe, with numbers in the UK and France now well above the first wave.
Markets Today: Are bailouts bygones?
25 September 2020
Equities were rising again in the US overnight on the hopes that a stimulus deal would be struck between the GOP and Democrats, but as optimism turned to reality, prices fell, the US dollar regained some of its strength and bond yields weakened.
Markets Today: Aussie dollar falls as risk sentiment deteriorates
24 September 2020
NAB had forecast that the Aussie dollar would reach 74 US cents by the end of the year. It did earlier this month but, as global risk sentiment rises, it is rapidly losing ground.
Markets Today: Powell asks for support, Debelle hints at easing, NAB revises rates forecasts
23 September 2020
In the US Jerome Powell spelt out very clearly in his testimony before Congress that more fiscal stimulus was needed and had been assumed by many board members in their policy predictions.
AMW: Labour market recovering more quickly than expected
22 September 2020
Traditionally the labour market has been a lagging indicator of activity. However, in this pandemic it is largely contemporaneous and is thus a good summary indicator of the wider economy as well as being timely given new data sets such as weekly payrolls and regular job ad updates by SEEK and Indeed.
Markets Today: Equities fall; bond yields weaken
22 September 2020
Concerns over the impact of a second wave in the US and Europe seem to be gathering momentum, driving investors to government bonds and safe-haven currencies.
Markets Today: A word from your central bank
21 September 2020
What more can central banks do to help stabilise the global economy?
Markets Today: Equities fall again
18 September 2020
It’s been a topsy turvy session overnight.
Markets Today: Fed says 3 years near zero
17 September 2020
US interest rates will be lower for longer – that’s the takeout from today’s FOMC meeting.
NAB Economics Consumer Cashflow Analysis
16 September 2020
In our new Consumer Cashlflow Analysis report, we explore the stresses in household balance sheets and hence macroeconomic impacts on consumers spending behaviours.
Insight
Markets Today: China shops, RBA waits, FOMC meets
16 September 2020
US equities are on the rise again driven by a flurry of M&A activity, alongside vaccine hopes and reasonable activity numbers from China.
Markets Today: Vaccine by year end
15 September 2020
Shares climbed in the US on the hope Pfizer will have a vaccine ready by the end of the year.
AMW: loan deferrals are falling
14 September 2020
Yet house prices remain surprisingly resilient.
NAB Health Insights – Supporting our Practitioner Community
14 September 2020
NAB's annual Consumer Health survey of over 1000 Australians provides a unique insight into Australia's health system through the eyes of those that rely upon it - patients.
Webinar
NAB Health Insights – Supporting our Pharmacy Community
14 September 2020
NAB's research in collaboration with the Pharmacy Guild of Australia demonstrates how pharmacies have become more important to their community than ever before.
Webinar
Markets Today: 6 months on – a still uncertain future
14 September 2020
It’s just over six months since the COVID-19 pandemic was declared and we’re still unsure about how it will all end.
Reimagining supply chains
11 September 2020
A rethink of corporate strategies sees a renewed appreciation of the importance of resilience in the supply chain
State of the nation: NAB’s 2020 Consumer Health Survey checks Australia’s pulse
11 September 2020
NAB’s latest in-depth report reveals how Australians and the health system are coping with COVID-19.
Article
Trends in card based procurement
11 September 2020
Leveraging real-time pre-transaction risk controls to unlock card based procurement efficiencies.
Markets Today: Pound pummelled
11 September 2020
The pound lost further ground today as the EU objected to a new government bill that would unilaterally overturn the Withdrawal Agreement.
Markets Today: Equities bounce back ahead of ECB meeting
10 September 2020
There’s been a rebound in risk sentiment.
The Forward View – Australia: September 2020
9 September 2020
VIC virus & reduced Government support means flat H2 2020. Larger falls through 2020 mean better 2021. But recovery still tough & long.
Insight
Markets Today: US equities hit again
9 September 2020
US equities have had a third session with substantial falls.
AMW: the uneven impact of job losses
8 September 2020
Despite strong job gains in June and July, there are still over half a million people who have lost work since March and an unknown number supported by JobKeeper.
Markets Today: Brexit brinkmanship
8 September 2020
A drop in the pound was the only significant market move overnight.
Markets Today: US jobs coming back but “harder from here”
7 September 2020
US jobs data on Friday helped the equities market to regain a little composure as it fell for the second day.
Three accelerating trends in transaction banking
4 September 2020
We outline three recent accelerating trends in the Australian payments space.
Markets Today: Equities hit
4 September 2020
There have been massive falls in US equities, particularly tech stocks.
Markets Today: equities still rise
3 September 2020
The US dollar managed a slight recovery which has also seen continued growth in US equities.
Markets Today: Europe’s prices drop; US shares rise
2 September 2020
Deflation in Europe comes as no surprise but the markets are still adjusting to the shift in the Fed’s monetary policy.
Technology Fast 50 2020
1 September 2020
Calling today’s tech leaders and future disruptors. Nominations are now open for the Deloitte Technology Fast 50.
The AUD in August 2020
1 September 2020
August proved to be a big month for the AUD/USD.
AMW: unusual recovery in job advertising in the smaller states
1 September 2020
Many of the smaller states’ economies are benefiting from both better virus numbers along with relatively smaller exposures to business services.
Markets Today: Aussie and NZ dollar flying high
1 September 2020
The Australian and NZ dollars reached two-year highs in the overnight session.
ESG investment – an AFR special report
31 August 2020
Facilitating the flow of capital towards sustainable initiatives and investing in our economy to drive recovery, create jobs and supercharge innovation has never been more important.
Sustainable finance update: August 2020
31 August 2020
An Australasian perspective on sustainable finance markets.
Markets Today: US dollar falls as Fed’s policy sinks in
31 August 2020
The US dollar bore the brunt of Friday’s reflective thinking on Jerome Powell’s Jackson Hole speech.
Australian GDP Preview: Q1 2020
28 August 2020
GDP is expected to decline by 5.8% (-5.1% y/y) in Q2 – the largest quarterly fall on record.
Insight
28 August 2020 Alan Oster Podcast – Coronavirus and the economy
28 August 2020
NAB Group Chief Economist Alan Oster talks about the latest impacts of the Coronavirus. Listen now.
Podcast
Managing counterparty risk
28 August 2020
Focussing on the 3 Golden Rules of counterparty risk management will help your business navigate these uncertain times.
Markets Today: Powell’s ‘average’ address
28 August 2020
Jerome Powell used his virtual address to the Jackson Hole Symposium to announce the Fed’s strategy of targeting an ‘average’ 2% inflation rate
Markets Today: High hopes and higher equities
27 August 2020
There’s continued optimism in the markets with equities reaching new highs again.
Sign of the times: How law firms are adapting to COVID
26 August 2020
Law firms are keeping their heads above water for now. But do they have what it takes to survive in the long term?
Article
Markets Today: Choppy waters with a flash of hope for Germany
26 August 2020
The US dollar is down again with equities up and touching new highs again.
AMW: Demographics and long-term inflation
25 August 2020
Inflation is expected to weaken materially in the near term.
Markets Today: Looking on the bright side of life
25 August 2020
US equities reached new highs again, with big gains also in Europe.
Markets Today: Europe slows down
24 August 2020
Europe’s PMI’s disappointed markets on Friday, whereas the US numbers were better than expected.
Markets Today: Equity highs, then PMIs
21 August 2020
US equities continue to rise, even though the jobless claims numbers rose last week.
Markets Today: FOMC minutes fail to map out direction
20 August 2020
There was disappointment from investors after the minutes of the recent FOMC meeting were released.
AMW: Labour market outlook
19 August 2020
Labour market recovers 40-50% from pandemic lows, but large spare capacity remains.
Markets Today: Stocking up and moving up
19 August 2020
US stocks continue to rise to record highs, helped today by strong housing starts and building permits.
Markets Today: Aussie flies higher
18 August 2020
The US dollar continues to fall, pushing the Aussie dollar higher this morning.
In Focus: Wool – August 2020
17 August 2020
Demand fundamentals limiting outlook for wool.
Insight
Markets Today: No trade talks; Democrats swing into action
17 August 2020
US-China trade talks have been called off for the foreseeable future with little market impact.
NAB’s World on Two Pages – August 2020
14 August 2020
The global economy continues to recover from the impact of COVID-19. However, there is still a long way back with progress. In Australia, we have downgraded our forecasts due to the containment measures in Victoria.
Podcast
The AUD in July 2020
14 August 2020
The AUD/USD in July was a tale of two halves.
Markets Today: Jobs, stimulus and bond yields
14 August 2020
Jobs data is confusing right now. How much is it influenced by government stimulus activity?
Markets Today: US equities head for highs
13 August 2020
US equities continue to race upwards, at or near record highs.
Markets Today: Russian roulette
12 August 2020
Markets in Europe seem to have been encouraged by the news that Russia is to start vaccinating key workers in the next few weeks.
Markets Today: No kick from JOLTs
11 August 2020
The latest JOLTs (job openings) showed there are 5.9 million jobs available, more than expected, but it didn’t give markets any kick.
AMW: RBA expects a slow, bumpy recovery
10 August 2020
Much will depend on Victoria.
Markets Today: Get set for TikTok tit for tat
10 August 2020
Trump’s executive orders hit technology stocks in the US and China on Friday.
Markets Today: Go it alone on stimulus
7 August 2020
President Trump has indicated if no stimulus deal is reached he’ll use his executive powers.
Markets Today: Is gold indestructible?
6 August 2020
Gold has broken the $2,000/ounce mark, so is it making a run for it?
Markets Today: Gold’s new high; bond yields head lower
5 August 2020
Treasury bond yields are reaching new lows which has heightened the appetite for gold.
AMW: FX forecast update
4 August 2020
AUD/USD outlook revised up.
Markets Today: Manufacturing climbs
4 August 2020
There was a lot of optimism in the markets overnight, driven by strong manufacturing numbers in the US and Europe.
Markets Today: Lockdowns abound; still no US fiscal deal
3 August 2020
The Australian economy will take a hit from the stage four lockdown in Melbourne, but it’s not alone.
Markets Today: The big US slowdown, Trump talks election delays
31 July 2020
The US dollar continued to slide, with a fall in shares and US Treasury yields, as GDP numbers showed the extent of the shock to the US economy in Q2.
Markets Today: Powell’s “tough situation” yet equities push higher again
30 July 2020
“We’re in a tough situation” – that was the response from Jerome Powell to one question during the FOMC press conference this morning.
Sustainable finance update: July 2020
29 July 2020
An Australasian perspective on sustainable finance markets.
Markets Today: US heads for fiscal cliff as confidence slides
29 July 2020
The US is no nearer to reaching agreement on their fiscal stimulus package.
AMW: Which states are performing best and why?
28 July 2020
The Weekly looks at how the various Australian states have been performing.
Markets Today: Gold bubbles higher; mighty dollar falls further
28 July 2020
Gold has reached a record high, whilst the US dollar continues to slide.
A big year for equity capital raisings on the ASX
27 July 2020
A temporary easing in rules around equity capital raisings has helped a surge in activity and this is expected to continue as companies shore up their balance sheets.
Markets Today: Will Congress keep the money rolling-in?
27 July 2020
The US dollar lost a lot of ground last week as Congress argued over the shape and form of the next recovery package.
Working capital and supply chain resilience
24 July 2020
The pandemic has highlighted the importance of supply chain resilience for many Australian businesses.
Markets Today: Markets tumble; optimism turns to Europe
24 July 2020
It's been a classic risk-off session so far, at least in the second half.
Markets Today: race to splash the cash
23 July 2020
Europe's done it, Australia's done it. Now it's the US' turn to extend their fiscal support, and the deadline is looming.
Purpose-driven profit
22 July 2020
A look at how corporate purpose, responsible investment and government leadership are driving greater outcomes for the economy, environment and society.
Digital revolution offers new infrastructure opportunities
22 July 2020
The COVID-19 pandemic is set to accelerate the shift to the digital economy, expanding the relatively new asset class of digital infrastructure.
Markets Today: Europe shines brighter
22 July 2020
The Aussie dollar rose over 1.7 percent, helped by the gain in the Euro after leaders there reached an agreement on a European Rescue Plan.
AMW: residential construction outlook
21 July 2020
500k less people means a soft residential construction outlook.
Markets Today: Extending JobKeeper and vaccine hope
21 July 2020
Scott Morrison will unveil changes to the JobKeeper and JobSeeker programs today
Markets Today: A recovery plan in need of rescue
20 July 2020
After three days debating the size and shape of the European Recovery Plan, EU leaders failed to reach an agreement.
Markets Today: Jobs, jobs, jobs
17 July 2020
There's been a lot of employment numbers out over the last 24 hours – for the US, the UK and Australia.
Markets Today: Finding the shape of the new abnormal
16 July 2020
There’s another possibly shape – the W recovery.
Markets Today: European plan hopes boost the Euro
15 July 2020
The Euro’s rise is based on hopes that European leaders will reach a consensus on their rescue package this week.
AMW: International students in Australia
14 July 2020
Education exports are likely to remain weak as international travel remains difficult and the global economy slowly recovers from a deep recession.
Markets Today: Vaccine hopes then China tensions
14 July 2020
Equities in the US spent most of the session rising, driven by the news that Pfizer and BioNTech’s experimental vaccine has being fast tracked in the US.
Markets Today: China news and virus news
13 July 2020
Markets opted to take the positive news on Friday, sending shares higher and the US dollar lower.
The AUD in June 2020
10 July 2020
Intra-month range extremes for AUD/USD in June came in the first ten days of the month.
Markets Today: Confidence vs COVID – the battle continues
10 July 2020
Markets are split between the confidence things might be getting better versus the realisation that in the US southern states infection rates (and fatalities) are getting worse.
Markets Today: UK Government goes Dutch on lunch
9 July 2020
The UK government going halves on lunch if you eat out in the first half of the week.
Markets Today: Wait and see
8 July 2020
There isn’t an immense amount of confidence about how quickly economies will recover.
AMW: JobKeeper & JobSeeker – what happens come September?
7 July 2020
What happens after the JobKeeper and JobSeeker schemes end in September? "Will the economy fall off a cliff?" is one of the most frequently asked questions by clients.
Markets Today: Look out for the cloud in the silver lining
7 July 2020
Everyone is seeing the silver lining, but clouds could be forming.
How has the FX Global Code evolved?
6 July 2020
Experts at a recent webinar discussed the role of the FX Global Code in easing the market turbulence caused by COVID-19.
Markets Today: Split between the economy, virus and China
6 July 2020
Which way will the markets be pulled this week?
Markets Today: Roaring back, a bit
3 July 2020
The US President declares the economy is roaring back following 4.8 million new jobs in June.
Markets Today: lifeboats for Hong Kong; vaccine for COVID
2 July 2020
The overnight session started on a sour note over increasing concerns about Hong Kong.
Markets Today: virus ‘out of control’ yet equities still rise
1 July 2020
Dr Fauci has declared the virus as ‘out of control’ in the US and more measures need to be brought in to contain it.
Australian Markets Weekly: RBA’s policy rule points to benefit of further policy stimulus
30 June 2020
The Weekly analyses the RBA’s macro-econometric model.
Markets Today: Taking stock on a no-bad news day
30 June 2020
There’s a little positive sentiment pushing shares higher again today and helping the US dollar gain on the Yen and Swiss Franc.
Sustainable finance update: June 2020
29 June 2020
A monthly look at the ESG debt markets from an Australasian perspective.
Markets Today: Virus numbers cause concern
29 June 2020
Rising infection rates in US southern states hit equities hard on Friday.
Markets Today: Easing Volcker
26 June 2020
The easing of banks’ investment rules contained in the so-called ‘Volcker Rule’ has helped to boost stocks.
Markets Today: COVID-19 woes, forecast downgrades & oil concerns
25 June 2020
Markets have been hit with a triple whammy – disturbing COVID-19 numbers emerging from the United States, a worse than expected downgrade to global growth forecasts and a big rise in oil inventories.
Markets Today: PMIs boosts sentiment
24 June 2020
There’s a lot of positive sentiment again today, with US equities on the up and the NASDAQ reaching a new high.
Australian Markets Weekly: Experimental high-frequency indicator to track economic recovery
23 June 2020
We’ve constructed an experimental summary index based on the common trend in a range of a mix of daily and weekly private-sector and official statistics
Markets Today: PMIs to help show shape of the recovery
23 June 2020
In a day that’s been light on news, markets have had a chance to take a more positive outlook, pushing equities higher and the US dollar lower.
Markets Today: Markets torn
22 June 2020
Last week was a choppy week as markets tried to balance out positive economic news against rising concerns about COVID-19 infections.
Markets Today: Back to work but not for everyone
19 June 2020
Markets continue to be jittery, with news of reopenings offset by concern over rising infection rates.
Investors rush to COVID-19 social bond market
18 June 2020
New COVID-19 social bonds have been met with overwhelming support from investors, leading to rapid growth in the sustainable debt market and a welcome outperformance, experts told a NAB Roundtable.
Markets Today: How many jobs will go?
18 June 2020
Australia’s latest unemployment numbers are out this morning and the rate is expected to rise.
Markets Today: US retail bounce; Trump’s next trillion
17 June 2020
Market sentiment is higher again this morning from a surprise rebound in US retail sales, coupled with talk of a $1 trillion infrastructure program from the Trump administration.
Australian Markets Weekly: Initial v-shape recovery
16 June 2020
Tracking Australia’s recovery through high-frequency data.
Markets Today: Fed goes further
16 June 2020
Globally equities had been dampened on Monday morning but equities are back on the rise in the US.
Markets Today: The impact of lockdown easing
15 June 2020
The markets lost a chunk of optimism last week.
The AUD in May 2020
12 June 2020
After a solid April, the AUD/USD began May with some trepidation dipping below the 64 cents mark a few times early in the month
Markets Today: investors run for cover
12 June 2020
There’s been a swift move to bonds and safe haven currencies since the Fed’s message yesterday that it would take a couple of years at least for life to return to normal.
Markets Today: Fed not pulling back till 2022
11 June 2020
The US Fed has reiterated that they will do whatever it takes to protect the US economy, with inflation expected to remain below 2 percent through to 2022.
Australian Markets Weekly: PBO’s budget outlook
10 June 2020
The Weekly looks at the Parliamentary Budget Office’s estimates of the impact of the virus on the budget. Plus, the Government’s recently announced housing subsidy.
Markets Today: Easing off the peddle
10 June 2020
The rally in equities has stalled for now – except for the NASDAQ.
Markets Today: Is the US bouncing back sooner than expected?
9 June 2020
Equity markets continue to rise and the US dollar continues to weaken with increasing risk-on sentiment.
Markets Today: ECB extends its shopping spree
5 June 2020
The ECB announced it will extend its bond buying program by a further €600b.
The New Payments Platform: two years on
4 June 2020
Our latest transaction insights paper looks at the journey of the New Payments Platform (NPP), Australia’s domestic payment clearing and settlement infrastructure launched two years ago.
Professional Services View Podcast: money matters
4 June 2020
Latest podcast: Did COVID-19 usher in new business model era?
Podcast
Markets Today: The recession we only just had to have
4 June 2020
Australia has entered a recession but, as Josh Frydenberg was quick to point out yesterday, the Q1 fall in GDP was miniscule compared to most of the rest of the world.
Markets Today: Aussie rises further
3 June 2020
It’s all good news as far as the markets are concerned, pushing the Aussie dollar even higher.
Australian Markets Weekly: the main questions asked about the Australian economy
2 June 2020
This week, we thought it might be interesting to discuss the most common questions we are getting asked by businesses and investors on the outlook for the Australian economy.
Markets Today: The rise and rise of the Aussie dollar
2 June 2020
The Australian dollar has climbed even higher this morning, reaching 68 US cents.
1 June 2020 Alan Oster Podcast – Coronavirus and the economy
1 June 2020
NAB Group Chief Economist Alan Oster talks about the latest impacts of the Coronavirus. Listen now.
Podcast
Markets Today: Less shock, more ore
1 June 2020
We’re seeing iron ore prices rise largely because of concerns over supply from Brazil.
Sustainable finance update: May 2020
29 May 2020
A look at the Australasian ESG debt markets during the last month.
Markets Today: Optimism knocked back by Trump announcement
29 May 2020
US equities continued to rally as investors looked for signs the economy would be getting back on track. But then …
Markets Today: China goes cold on Aussie coal
28 May 2020
The Australian dollar has lost ground as China threatened to ban imports of Australian coal.
COVID-19 effect: how businesses are rising to the digital challenge
27 May 2020
The coronavirus pandemic is hastening the digital journey for many Australian businesses, as restrictions designed to slow the spread of the virus put paid to old ways of doing things.
Article
Markets Today: Markets catch reopening fever
27 May 2020
There’s a strong risk-on mood in the markets this morning.
Australian Markets Weekly: Scope for additional stimulus
26 May 2020
Budget revision provides scope for additional stimulus to shore up recovery.
Markets Today: Equities rebound despite “new cold war”
26 May 2020
Equities have staged a broad-based rebound and are expected to continue as markets reopen in the US and UK.
Podcast
Markets Today: Hong Kong returns to pre-COVID protests
25 May 2020
The unrest in Hong Kong is likely to impact the Australian dollar.
Markets Today: Equities hit by China’s clashes with the US
22 May 2020
Market sentiment was tempered somewhat by rising rhetoric between the US and China.
Markets Today: Markets accentuate the positive
21 May 2020
It’s been another positive session, driving equities higher and giving another boost to the Australian dollar.
Australian credit markets send a positive signal
20 May 2020
The longest period of bond market disruption since the GFC appears to be ending.
Markets Today: Taking a deep breath
20 May 2020
Markets have controlled their excitement after the burst of optimism over a potential COVID-19 vaccine.
Australian Markets Weekly: measuring spare capacity
19 May 2020
Measuring spare capacity amid an exodus from the workforce.
Markets Today: Markets go vaccine crazy
19 May 2020
There’s been big increases in equity markets and bond yields on news of a successful stage one vaccine trial in the US.
Markets Today: Back to work & back to the trade war
18 May 2020
The US President has said the US needs to get back to work, vaccine or not.
Markets Today: Job woes, US tensions & China’s rebound
15 May 2020
The US and Australia have both reported dour job numbers, although markets were braced to expect it.
Markets Today: Powell’s negative tone talks down markets
14 May 2020
The Fed’s Governor Jerome Powell took a very sombre tone about the response to the COVID-19 crisis.
Markets Today: Markets worried over longer lockdowns
13 May 2020
There’s been a swift reversal in sentiment.
Australian Markets Weekly: weakest population growth in a century as Australia closed its border
12 May 2020
Lower net overseas migration should see Australia’s population growth more than halve to 0.7% in 2020-21.
Markets Today: AUD falls despite continued recovery hopes
12 May 2020
When we’ve had positive risk sentiment in the past we’ve tended to see a stronger Aussie dollar but that’s not the case today.
Markets Today: Markets ignore 20.5 million US job losses
11 May 2020
The non-farm payrolls data on Friday showed 20.5 million new job losses in one month in the US and yet equities rose
Markets Today: Fed fund futures turn negative
8 May 2020
Future contracts for Fed funds turned negative for the first time.
Markets Today: Lifting lockdowns but the debt remains
7 May 2020
Two questions remain over the COVID-19 crisis: when is it safe to lift lockdowns and what will the debt-impact be on the economy?
Markets Today: Germany’s judges challenge ECB
6 May 2020
The Euro and Italian bonds took a hit with German judges challenging the ECB on its QE activity.
Australian Markets Weekly: Australia to ease containment restrictions
5 May 2020
A timetable for the relaxation of measures is expected to be unveiled on Friday when the National Cabinet of Australia meets.
Markets Today: Airlines take a beating; German judges to rule on QE
5 May 2020
Airline stocks have taken a heavy hit after Warren Buffet’s decision to bail out at the weekend.
The AUD in April 2020
4 May 2020
April was a very rewarding month for the AUD/USD.
Markets Today: Bad start to a potentially rocky month
4 May 2020
May got off to a bad start on Friday with falls in equities and the Aussie dollar the worst currency on the day.
Markets Today: Month-end; fewer jobs
1 May 2020
Month-end has seen a broad sell-off of the US dollar.
Sustainable finance update: April 2020
30 April 2020
A monthly look at the Australasian ESG debt markets.
Markets Today: Fed hints for more fiscal support
30 April 2020
Fed warns of considerable medium-term risk.
Markets Today: Aussie dollar pushing ahead
29 April 2020
The Aussie dollar has been steadily rising, now around 65 US cents.
Australian Markets Weekly: assessing monetary policy
28 April 2020
Easier monetary policy should be helpful in supporting the economy as activity rebounds later this year.
Markets Today: Markets dreaming of post lockdown utopia
28 April 2020
Again, it seems markets are ignoring the bad data of which there’s plenty.
Markets Today: Markets not entirely convinced on the V
27 April 2020
There’s still talk of a v-shaped recovery in the US.
E-commerce in COVID-19
24 April 2020
E-commerce has been impacting the sales of bricks-and-mortar for years but the arrival of COVID-19 has accelerated changes in shopping behaviour.
Markets Today: Bad news abounds but markets are positive
24 April 2020
US unemployment registrations have added another 4.4 million, European PMIs hit record lows and the EU failed to reach an agreement on how to fund a recovery package for Europe.
Cash management in a crisis
23 April 2020
COVID-19 has placed significant pressure on corporates and implicated their operations. Efficient cash management and adequate liquidity is one of the key principles to ensure survival.
Markets Today: Shares rise, oil calmer & EU prepares next steps
23 April 2020
Oil prices have recovered somewhat and equities have risen again.
Markets Today: Oil rout spills over
22 April 2020
Oil rout sours risk sentiment across the board.
Australian Markets Weekly: record peace-time budget deficit
21 April 2020
The instant recession caused by the coronavirus pandemic has seen an unprecedented easing of both monetary and fiscal policy.
Markets Today: oil prices fall heavily into negative territory
21 April 2020
WTI lurched into negative territory with a vengeance.
Markets Today: Signs of a China bounce-back adds to optimism
20 April 2020
Industrial production numbers from China on Friday gave investors hope.
Markets Today: More US jobless
17 April 2020
Another 5.2 million jobless in the US.
Markets Today: Markets might’ve overaccentuated the positive
16 April 2020
March data out of the US is bad and the share market has taken it badly.
Markets Today: V-shaped optimism drives shares higher
15 April 2020
Australia joined the bull run in the share market yesterday, clocking up 20.7 percent growth since March 23.
Australian Markets Weekly: lessons from past recessions & depressions
14 April 2020
Read the findings of our analysis of past depressions and recessions in Australia.
Remote working: security & efficiency for corporate finance teams
14 April 2020
Large sections of the Australian economy are now working from home or in remote locations. Corporate Australia has had to quickly shift operational processes and adjust to new work from home arrangements, many for the first time.
Markets Today: Buying credit and cutting oil
14 April 2020
The US Fed has extended its QE shopping list, agreeing to buy junk bonds from corporations suffering the impacts of the coronavirus.
NAB SME Business Survey: Quarter 1 2020
9 April 2020
SME confidence declines ahead of the COVID-19 disruption.
Webinar
Social distancing – cash alternatives
9 April 2020
The implementation of social distancing has meant some businesses are reviewing their customer interactions at the point of payment.
Markets Today: EU fiddles whilst equities rise
9 April 2020
There’s more optimism today that countries are reaching the peak of COVID-19, which is pushing US equities higher.
Markets Today: Equities rise as Europe’s curves flatten
8 April 2020
Optimism is being driven by the infection and fatality curves for COVID-19 in Europe and the US.
Australian Markets Weekly: OECD estimates of substantial economic cost of containment
7 April 2020
The OECD has estimated the direct economic cost of containment measures is substantial, with shutdown resulting in a 20-25% fall in real GDP, across the advanced economies.
Markets Today: Monumental hope from markets
7 April 2020
Equities have bounced back in a big way on hope that countries will start to ease restrictions and get more people back to work.
Corporate borrowers cautious as markets see-saw
6 April 2020
With public debt markets in flux due to the spread of COVID-19, patience is the watchword for Australian borrowers in private capital markets.
Markets Today: Are we turning a very long & slow corner?
6 April 2020
Hope is a rare commodity these days – unlike oil.
Markets Today: Oil talk and jobless surge
3 April 2020
Oil shot up in price overnight.
Ecommerce and the card processing environment today
2 April 2020
Our latest transaction insights paper includes recommendations for managing credit card rejections and provides clarity on the credit card authorisation process.
Markets Today: Bad start to the quarter
2 April 2020
The quarter has started with big falls again on equity markets and lower Treasury yields, whilst oil prices continue to be driven downwards.
The AUD in March 2020
1 April 2020
The AUD/USD collapsed in March to its lowest levels since 2003. Read our summary of what impacted the course of the AUD/USD during the month.
We are here to help Australians to the other side of this crisis
1 April 2020
We are providing significant relief to businesses and homebuyers in need, by pausing or deferring payments over the next six months as we all deal with this unprecedented situation.
Article
Markets Today: US & Europe – two sides of the same coin
1 April 2020
Equities in Europe are on the rise. Equities in the US are on the slide.
Australian Markets Weekly: pandemic crunches labour demand & supply
31 March 2020
Australia has entered a deep recession and unemployment could soon reach 12%, a level surpassed only by the depressions of the 1890s and 1930s
Markets Today: See you on the other side
31 March 2020
Scott Morrison’s job retention program helped equities yesterday but doesn’t explain the rise in the US and Europe.
COVID-19 frauds & scams
30 March 2020
All businesses need to be aware of how criminals may use the current crisis to target businesses.
Insight
Markets Today: Hibernation, but for how long?
30 March 2020
Other parts of the world are getting ready for a lockdown that could last a few months.
China Economic Update: 27 March 2020
27 March 2020
Back in business? China attempts to restart its economy after Covid-19 shutdown
Markets Today: US equities rise on stimulus
27 March 2020
US equities rose sharply overnight despite the news unemployment claims in the US have risen to 3.2 million for the week to March 21.
Markets Today: Flying blind, destination unknown
26 March 2020
Equities are on the rise in the US and Europe.
Markets Today: brief respite on hopes of US stimulus deal
25 March 2020
Markets reversed a little overnight with US and European equities rising.
Markets Today: Unlimited QE
24 March 2020
The US Fed announces unlimited QE.
Australian Markets Weekly: The economics of a pandemic
23 March 2020
Insights from the Kennedy paper.
Markets Today: Lockdowns adding to market turmoil
23 March 2020
It’s likely prices will fall further as more countries and regions go into lockdown.
Markets Today: what’s driving today’s sea of green?
20 March 2020
Oil has shot up in price, with equities rising too and there’s a bit more interest in government bonds.
Markets Today: Another day of extremes
19 March 2020
Big falls in equities and oil, as well as widespread selling of government bonds, even gold is being ditched.
Market’s today: Aussie’s new low & US ‘Helicopter’ money
18 March 2020
The Aussie dollar has fallen below the post GFC low.
Markets Today: another black day
17 March 2020
Despite extreme measures by the Fed yesterday and the return of QE, markets were far from impressed.
Markets Today: RBNZ latest to cut in global moves
16 March 2020
The RBNZ has slashed rates this morning to a quarter percent.
Payables fraud – a growing problem in Australia
13 March 2020
Fraud threats to organisations are becoming increasingly sophisticated and targeted.
Markets Today: Markets in turmoil
13 March 2020
Markets are in free fall as containment measures impact heavily on business.
Markets Today: pandemic & an emergency cut
12 March 2020
The Bank of England and UK government launched a coordinated approach on tackling COVID-19 headwinds, with an emergency rate cut and fresh fiscal stimulus.
Markets Today: waiting on stimulus news
11 March 2020
Markets have bounced back a little even though the battle over oil seems to be getting worse.
Australian Markets Weekly: RBA to soon undertake yield curve control, reinforcing fiscal stimulus
10 March 2020
NAB continues to expect the RBA to cut the cash rate to 0.25% in April.
Markets Today: Oil plunge sparks Black Monday
10 March 2020
There has been a massive fall in oil prices.
Markets Today: Oil price battle will add to volatility
9 March 2020
The rush to bonds continued on Friday, hitting new lows for Treasury yields, even as equities in the US saw a last-minute push and actually finished the week up a little.
Markets Today: And back to the safe havens
6 March 2020
Markets have switched back to risk-off mood.
The AUD in February 2020
5 March 2020
Intensification of concerns about the spread of the COVID-19 coronavirus culminated in new 11-year lows for AUD/USD at 0.6435 on the last day of the month.
Markets Today: Markets rest hope on government stimulus
5 March 2020
Equities and the US dollar have bounced back even if bond yields remain low.
Building the infrastructure for the war on waste
4 March 2020
Extracting maximum use from products and resources, by recycling and reusing as much as possible, will help move Australia closer to a circular economy that minimises waste.
Markets Today: Fed emergency cut doesn’t halt the carnage
4 March 2020
The US Fed dropped interest rates by 50 basis points in an emergency cut.
Australian Markets Weekly: Coronavirus & the Australian economy
3 March 2020
Markets are now monitoring the spread of coronavirus outside China.
Markets Today: RBA ready to cut; G7 phone call helps markets
3 March 2020
Central bankers and finance ministers are hooking-up on a conference call later today to discuss a coordinated response to the impact of the coronavirus.
Markets Today: China’s manufacturing crumbles
2 March 2020
Friday marked a bad end to a tumultuous week for the markets, with equities, commodities and bond yields all hit hard.
Markets Today: rout resumes on fears of the unknown
28 February 2020
Thursday proved to be a very volatile day towards the end of a very volatile week.
Markets Today: Markets grab a short breather
27 February 2020
The markets attempted a bit of a rebound earlier but it hasn’t lasted long.
Markets Today: Further falls on virus news
26 February 2020
Markets continue to respond to news reports highlighting the (admittedly slow) spread of COVID-19.
Australian Markets Weekly: indicators point to unemployment edging higher
25 February 2020
We've constructed a leading index of unemployment based on the predictive power of a very large number of official and surveyed indicators.
Markets Today: Sharp moves as COVID-19 concern reaches fever pitch
25 February 2020
The extent of the spread of the coronavirus in South Korea, Europe and numerous other countries, has driven a major fallout in markets overnight.
Markets Today: COVID-19 spreads further; core bond yields fall
24 February 2020
There was a strong risk-off mood on Friday due to the spread of the COVID-19 infections and the impact it's having on the global economy.
Markets Today: COVID-19 jitters hit Asian currencies
21 February 2020
Asian currencies have born the brunt of rising concerns over the spread of COVID-19 beyond the Chinese mainland.
Markets Today: markets do an about-turn
20 February 2020
The markets have spun around again,with renewed optimism and not much lingering concern from Apple’s revenue warning yesterday.
Markets Today: Apple sparks concern over virus impact
19 February 2020
Markets have returned to adopting a more cautious approach to the impact of COVID-19, after Apple said it didn’t expect to meet its forward guidance.
Australian Markets Weekly: RBA’s renewed focus on financial stability
18 February 2020
The Reserve Bank has a renewed focus on financial stability, where the benefit of lower rates in achieving the inflation target and full employment is weighed against the longer-term risk of adding to already-high household debt.
Markets Today: Japan’s pre-virus nose-dive
18 February 2020
Nobody was expecting anything other than a bad GDP read from Japan but it was worse than bad.
Markets Today: Markets latch on to falling infection rates
17 February 2020
Markets are cautiously hoping the worst of the coronavirus is over.
Markets Today: Virus worries; UK Chancellor quits
14 February 2020
The markets slipped momentarily into risk-off as the number of COVID-19 infections jumped in volume, but concern slipped back a little as it became clear that the way cases were being measured had changed.
Markets Today: Virus contagion eases, stocks hit new highs
13 February 2020
The markets are continuing to discount the impact of the coronavirus.
Markets Today: Powell talks shares down; Aussie rises
12 February 2020
Trump tweeted as Jerome Powell spoke saying shares were falling the more he spoke.
Markets Today: Caution as China gets back to work
11 February 2020
There seems to be hope of an early recovery to the impacts of the coronavirus.
Australian Markets Weekly: Modelling a China shock; more on potential coronavirus effect on Australia’s economy
10 February 2020
We've analysed the impact of an assumed 1% shock to Chinese growth on Australia to estimate the potential impact of the virus coronavirus on Australia's economy.
Markets Today: virus concerns blitz strong US jobs report
10 February 2020
Ordinarily these numbers would be a cause for optimism in the markets, yet concerns of the impact of the coronavirus are having the opposite impact.
Markets Today: China cuts tariffs, Aussie retail pushes rate cuts back
7 February 2020
The sun continues to shine on the equity market with the S&P500 making a new record higher, +0.3% to 3,344.
Investors position for the megatrends of the future
6 February 2020
NAB’s Fixed Income Beyond the Institutional Sector Summit looked at the trends that are likely to shape the way we live, work and interact for years to come.
Markets Today: Markets reading the numbers and preying on hope
6 February 2020
As this week wears on the combination of more positive news is able to lift markets, even while the Coronavirus continues to show no signs of slowing down.
Markets Today: And then the rebound, for now
5 February 2020
Since Monday the markets have dived, then climbed back again.
Mutuals get a new option to finance growth
4 February 2020
Recent changes in legislation will allow member-owned organisations to issue a new type of share- without changing their corporate structure.
Embracing innovation puts the ASX at the forefront of new technology
4 February 2020
The ASX is moving to a blockchain-based system that will unlock efficiencies for the entire financial services industry.
Australian Markets Weekly: Travel ban points to larger coronavirus impact on Australian GDP
4 February 2020
The government has introduced travel restrictions on arrivals from mainland China and advised Australians to avoid travelling to China because of the novel coronavirus.
Markets Today: US equities back
4 February 2020
US equities bounced back today – perhaps because there wasn’t a lot of new news on the coronavirus but also because US ISM numbers exceeding expectations.
Markets Today: Australia paying price on virus concerns
3 February 2020
The Australian dollar – and emerging markets more broadly – were hit by further concerns over the spread of the coronavirus.
Markets Today: Virus hits equities
31 January 2020
Coronavirus continues to cause concerns, hitting all asset classes overnight, including US and European equities.
Markets Today: FOMC on hold; BoE go next
30 January 2020
The least surprising news today is the decision by the FOMC to keep rates on hold in the US.
Markets Today: Markets rethink corona risk
29 January 2020
US stocks have rebounded after a day when they were hit hard over concerns on the spread of the coronavirus.
Australian Markets Weekly: The case for a rate cut in February
28 January 2020
The market has substantially reduced pricing for a February interest rate cut following the surprise improvement in the unemployment rate last week
Top 10 ways technology and digital securities will change finance
28 January 2020
A financial system that has taken centuries to evolve will change dramatically in the next few years.
Markets Today: Spreading virus extends risks
28 January 2020
The Australian dollar has fallen more than one percent today as concern continues over the spread of the Corona virus.
US Economic Update – January 2020
24 January 2020
Growth likely slowed in Q4.
Markets Today: RBA rate cut might be delayed
24 January 2020
Markets push back the timing of a rate cut from the RBA.
Markets Today: Corona concerns & Trump targets Europe
23 January 2020
US equity markets have regained composure but will news of a lockdown of the Wuhan district fan further volatility?
Markets Today: Trump talks it up but US equities stall
22 January 2020
Whilst President Trump was self-aggrandising at Davos, US equities stalled.
NAB FX Update: the early-year view of the AUD in 2020
21 January 2020
Our Head of FX Research shares his views on how the AUD will perform against the USD in the first half of 2020 – listen now.
Markets Today: All Quiet until Trump Talks
21 January 2020
The US was on holiday Monday so it’s been a quiet session all round.
Australian Markets Weekly: Estimating the probability of QE using market pricing & RBA forecasts
20 January 2020
Calculating confidence intervals around cash rate futures pricing and the Reserve Bank's economic forecasts, we estimated an average probability of QE through to mid-2021 of about one-third.
Markets Today: Equities race higher on trade optimism
20 January 2020
The rally in US equities continued at the end of the week, with the optimism spreading to Europe.
Markets Today: Retail numbers push US equities even higher
17 January 2020
US equities rose higher still on the back of the latest US retail numbers.
Investors taking action to support a sustainable economy
16 January 2020
Investors are directing capital towards the projects and companies that will remain viable in the transition to a low-carbon economy, a major international conference was told.
Markets Today: new highs again for equities
16 January 2020
Equities have posted further gains and new record highs.
Markets Today: Big beautiful monster of a deal day
15 January 2020
The US and China will sign the phase one trade deal tonight.
Markets Today: China not a currency manipulator
14 January 2020
There are reports the US Treasury Department will no-longer consider China a currency manipulator.
Australian Market’s Weekly: Australia’s bushfire tragedy
13 January 2020
The social cost of the bushfire disaster has been immense, with no precise way to gauge the economic impact until official data becomes available.
The changing face of banking technology
13 January 2020
In a rapidly evolving technology landscape, corporate finance teams have a range of options to improve efficiency, productivity and security with bank communication.
Markets Today: Are we set for a year of higher growth?
13 January 2020
In our first podcast of 2020, Ray Attrill discusses the week’s economic news and the broader prospects for the year ahead.
Markets Today: Dazed and confused
10 January 2020
We’re ending the week with risk sentiment at its best level of the year.
Markets Today: Give peace a chance
9 January 2020
Markets have now largely unwound the risk-off moves that have occurred since Friday.
Markets Today: Better
8 January 2020
It’s been a particularly bad 24 hours for the AUD (if you aren’t an Australian exporter, that is).
Markets Today: Breathe – 7 January 2020
7 January 2020
Geopolitical tensions remain centre stage with markets clearly in wait-and-see mode.
The AUD in December 2019
6 January 2020
December was a good month for risk assets and the AUD, as the US and China agreed on their much-awaited Phase 1 trade deal and key global economic data releases improved.
NAB Business Innovation Index 2019
23 December 2019
Business innovation falters in Australia as the economy slows.
Markets Today: From uncertainty to positivity? The Year Ahead.
23 December 2019
With renewed hopes for a Brexit deal and a truce at least on the US China dispute, could 2020 be a year of strong growth?
Markets Today: Good Aussie jobs numbers add to positive vibe
20 December 2019
The AUD held its position after the better-than-expected Australian Labour numbers yesterday.
Markets Today: Slow day with steepening yields & softer pound
19 December 2019
Not much movement in currencies or equities.
Markets Today: Brexit risk returns
18 December 2019
The pound took a hammering after Boris Johnson indicated the end of 2020 will be a firm deadline for Brexit, deal or no deal.
Markets Today: Are shares heading for a melt up?
17 December 2019
There’s been feverish activity in equity markets over the last 24 hours as investors respond to the US-China trade deal and the removal of Brexit uncertainty (for now).
Australian Markets Weekly: Economic and fiscal outlook
16 December 2019
The Mid-Year Economic and Fiscal Outlook (MYEFO) released today reveals downgrades to the economic outlook.
Markets Today: A double whammy – markets still cautious
16 December 2019
Two of the biggest obstacles to global economic growth have seemingly been removed, or at least sidestepped for a while.
Markets Today: D-day for trade talks & UK government
13 December 2019
Two significant deadlines today means, whatever happens, we can expect some volatility.
Why venture capital is more important than ever for investors
12 December 2019
Venture capital is too important for investors to ignore as it occupies an increasingly large part of the global economy and provides opportunities not available elsewhere, experts told the 2019 Association of Superannuation Funds of Australia.
Markets Today: Aussie rises; Fed holds
12 December 2019
The Fed has announced no moves on rates in the US, with no expectations for cuts in 2020.
Markets Today: More interest in trade deal than impeachment
11 December 2019
The markets continue to ignore the US impeachment proceedings.
Markets Today: A quiet day
10 December 2019
Markets have been calm overnight, in wait and see mode ahead of a series of more important events this week.
Australian Markets Weekly: Australia’s poor productivity performance
9 December 2019
The Reserve Bank’s persistent overestimation of growth likely reflects not allowing for the decline in potential growth.
Markets Today: Good jobs news – bad for a trade deal?
9 December 2019
Jobs numbers from the US on Friday were well above expectations and we saw a swift response in the markets.
Markets Today: Aussie retail slowdown, ongoing trade uncertainty and US jobs numbers to come
6 December 2019
All eyes tonight will be on the US non-farm payrolls data.
Sustainability: The new economy
5 December 2019
Customers and investors alike want companies to create a positive contribution to society, alongside profit.
Climate change to affect asset prices with little warning
5 December 2019
Climate change is a long-term problem, but when it starts to affect asset prices it will happen very quickly, experts told the recent 2019 Association of Superannuation Funds of Australia.
Markets Today: Pound Rises, Oil Shoots Up, Trump Leaves Early
5 December 2019
Oil has been the big mover overnight ahead of the OPEC summit.
NAB Online Retail Sales Index, Monthly Update – October 2019
4 December 2019
Our NAB Online Retail Sales Index data indicates that after two solid months of growth in August and September, online retail sales weakened in October.
Markets Today: President Out-Trumps Himself at NATO
4 December 2019
President Trump has upset markets further today suggesting that the trade deal with China might be left till after the US election, a year away.
The AUD in November 2019
3 December 2019
The AUD/USD drifted lower over November as progress towards achieving a Phase 1 US-China trade deal slowed, casting doubts on the likelihood of a deal in coming weeks.
Markets Today: Trump threatens more tariffs as China’s manufacturing grows, US slows
3 December 2019
The markets were spooked overnight by threats of further tariffs from the US President if a trade resolution isn’t reached.
Australian Markets Weekly: Large and persistent RBA forecast misses on growth
2 December 2019
The Reserve Bank anticipates a strong rebound in GDP growth, with annual growth accelerating from 1.4% currently to 3.1% by end-2021.
Markets Today: RBA week, oil volatility, Merkel’s coalition in danger
2 December 2019
It’s an important week for Australian markets, with a slew of data today, GDP released on Wednesday and the RBA meeting between them.
Markets Today: China angry on US Hong Kong Bill, but will it impact the trade deal?
29 November 2019
President Trump has signed the Hong Kong human rights act.
Markets Today: Markets positive on US data
28 November 2019
For once US markets have been driven not by trade talks, but by hard numbers.
Super funds and listed companies can boost growth by working together
27 November 2019
Listed companies and superannuation funds can lift returns and boost Australia’s economic growth if they work together, the recent 2019 Association of Superannuation Funds of Australia heard.
Markets Today: Lowe on QE; US equities up
27 November 2019
RBA Governor Philip Lowe said QE wouldn’t happen in Australia until interest rates got down to 0.25%.
Markets Today: Trade hope sends stocks high
26 November 2019
The hope that something will happen soon between the US and china has sent US equities to new highs.
Australian Markets Weekly: Revisiting the odds of QE
25 November 2019
The effective lower bound for the policy rate is negative, but the Reserve Bank only seems comfortable with a 0.25-0.5% floor for the cash rate.
Offshore wind: A European export going global
25 November 2019
The offshore wind industry is booming, with 22GW of installed capacity worldwide and the first project planned for Australia.
Markets Today: New week, new hope
25 November 2019
There was renewed hope a phase one trade deal could be reached between the US and China by Christmas.
Markets Today: Markets ignore impeachment
22 November 2019
The markets anticipate the next development in the US-China trade talks.
Markets Today: Will Human Rights Bill scupper a trade deal?
21 November 2019
Markets adopted a mild risk-off mood overnight.
Markets Today: RBA considered a cut
20 November 2019
The markets are still waiting for developments on the US China trade talks.
Connecting capital to opportunity: NAB in Japan
19 November 2019
Janari Tonoike, head of NAB Japan Securities Limited, National Australia Bank’s (NAB) new Tokyo-based, wholly-owned subsidiary, showcases the long-standing relationship between Japan and Australia, and explains how the new entity can help investors and borrowers in both markets and beyond connect better in a challenging global business environment.
Markets Today: China uncertain, Boris boosted
19 November 2019
Sterling has been the biggest mover as Boris Johnson pulls ahead in the polls.
Australian Markets Weekly: Household debt around Australia
18 November 2019
Household debt is growing very slowly at present, up only 4% over the past year.
Markets Today: Markets living on high hope
18 November 2019
US equities finished last week on new highs on the hope the phase one trade deal between the US and China is close.
Emerging lenders on the path to debt capital markets
15 November 2019
In October 2019, National Australia Bank hosted a Round Table with emerging lenders to share their experiences on the journey to bank securitisation funding and beyond.
The AUD in October 2019
15 November 2019
The AUD/USD rose during October on the back of improved global risk sentiment, courtesy of progress on US-China trade talks and Brexit developments.
Markets Today: AUD fall continues, bond yields down as trade delay persists
15 November 2019
The Aussie dollar fell sharply yesterday on the back of disappointing jobs numbers, followed by weaker than anticipated activity data from China.
Markets Today: The Kiwi flies, Powell stands still
14 November 2019
The NZ dollar saw the biggest currency move over the last 24 hours.
Creating opportunities: Corporate & Institutional Banking magazine
13 November 2019
As the end of year approaches, we’d like to recognise how our corporate and institutional clients are making a difference, in Australia and around the world.
Markets Today: President talks but gives nothing away
13 November 2019
The US President offered nothing new about where trade talks are at and the markets little moved.
Infrastructure special report: Australian Financial Review
12 November 2019
The AFR takes an in-depth look at Australia’s infrastructure outlook.
Markets Today: Brexit pact boosts pound
12 November 2019
Sterling bounced higher today, shortly after GDP figures showed the UK had narrowly missed a recession.
Australian Markets Weekly: Analysing corporate income and cash flow
11 November 2019
Total income is growing strongly, led by a boom in mining profits as non-mining profits languish, while growth in disposable income is more measured.
Helping with the transition to a low-carbon economy
11 November 2019
Financial institutions including NAB are working on a range of ways to support customers as the global economy faces challenges from climate change, a recent conference was told.
Markets Today: Simply irresistible
11 November 2019
The fact Trump wasn’t entirely keen on giving up existing tariffs hasn’t stopped investors from pushing equity prices higher.
Building relationships in a region of opportunity
8 November 2019
Now is an optimal time for Asian investors and contractors to explore Australia’s thriving infrastructure sector.
Markets Today: Stock market up big
8 November 2019
Shares rose higher on further hope that trade talks with China will see a roll back in existing tariffs.
Markets Today: No time, no place, no momentum
7 November 2019
Market sentiment has done a complete U-turn.
Investors urge coordinated action on climate change
6 November 2019
Investors are keen to understand how their portfolios are exposed to global risks from climate change and want more green and sustainable products to invest in, a recent conference heard.
Markets Today: High hopes & gentle turning point
6 November 2019
With nothing concrete to go on, markets continue to factor-in optimism over the US-China trade talks.
Markets Today: Shocking shopping statistics
5 November 2019
Yesterday’s retail numbers showed Australians are cutting back on their shopping habits.
Australian Markets Weekly: Business investment held back by machinery & equipment
4 November 2019
Business investment is exceptionally weak at present, only slightly above the multi-decade low reached as a share of GDP in the early 1990s recession.
Markets Today: high on jobs growth
4 November 2019
US equities hit new highs again on Friday.
Markets Today: Phase 2 deal unlikely
1 November 2019
There’s a risk-off mood today.
Markets Today: Fed – cut and hold
31 October 2019
The US Federal Reserve has cut interest rates as expected.
Markets Today: Aussie CPI today, Fed tomorrow
30 October 2019
Australia’s CPI read today and US GDP numbers tonight.
Australian Markets Weekly: Consumer sentiment, low interest rates & tax cuts
29 October 2019
The Weekly explores the impact of interest rate cuts on consumer sentiment.
Markets Today: US stocks flying high on hope
29 October 2019
US stocks are on the rise as optimism for a trade deal intensifies.
Markets Today: Fed easing, trade hopes rising, Brexit stalling
28 October 2019
A rate cut is anticipated by the Fed and there’s further hope a phase one deal will be signed by the US and China.
Markets Today: pound hit by election hope
25 October 2019
The pound weakened as Boris Johnson calls for an election on December 12th.
Markets Today: Au revoir Draghi, Bonjour UK election
24 October 2019
Mario Draghi is preparing to chair his last ECB meeting, with no expectation he will move rates.
Markets Today: Brexit Bill proceeds, then stops!
23 October 2019
The market reaction has not been favourable to the latest Brexit events.
Australian Markets Weekly: How accomodative is Australian monetary policy?
22 October 2019
With the cash rate at a record low of 0.75%, short-term interest rates broadly match the all-time low reached in the 1950s.
Markets Today: Brexit & tariff Déjà vu
22 October 2019
Two familiar stories dominated the markets overnight.
China’s economy at a glance – October 2019
21 October 2019
Trade war finally shows its impact on China, as industrial sector drags Q3 growth lower.
Markets Today: Brexit & US-China deal optimism
21 October 2019
The pound has already weakened on the latest Brexit delay.
Markets Today: Brexit see-saw & Aussie employment bonus
18 October 2019
The early market response to a new Brexit deal and Aussie employment numbers.
Turning global bonds into income for Aussie investors at Neuberger Berman
17 October 2019
We helped Neuberger Berman set up Australia’s first listed investment trust focused on global fixed income, to turn global bonds into income for Aussie investors.
Markets Today: Brexit vibe is positive
17 October 2019
The pound has risen again as negotiations continue into the night (again) over a Brexit deal.
Markets Today: GBP higher on Brexit midnight mercy dash
16 October 2019
The pound is riding higher on the back of optimism.
Australian Markets Weekly: Assessing “lower for longer” interest rates using RBA’s macro model
15 October 2019
We used the MARTIN model to explore holding the cash rate at low levels for a longer period of time.
Markets Today: More talk before truce
15 October 2019
There’s a little apprehension in the markets this morning because the US China trade deal might not be a done deal.
Markets Today: Double Deal – did the markets overreact?
14 October 2019
The markets finished last week on a high.
More affordable and specialist homes
11 October 2019
More Australians will be able to access affordable housing following a $2 billion commitment from NAB which will see more homes being built across the nation.
Markets Today: Two big slugs of positivity
11 October 2019
US-China trade talks and Brexit negotiations both look like some sort of deal could be reached.
Markets Today: Markets respond to a glimmer of hope
10 October 2019
There’s a risk on mood in the markets today.
The AUD in September
9 October 2019
The downtrend in the AUD/USD took a pause in September, where the currency ended the month 0.3 cents higher than where it began.
Are we witnessing a decline in globalisation?
9 October 2019
Three decades of stable economic growth, generated by widespread political and economic harmony, is in danger of being eroded by increasing political polarisation.
Markets Today: Deals falling off the table
9 October 2019
Even though trade talks are still going ahead between the US and China this week, what little hope of any sort of outcome, seems to be rapidly diminishing.
Markets Today: The waiting games – trade, Brexit & Syria
8 October 2019
Markets are more preoccupied with the outcome of the US-China trade talks this week.
Australian Markets Weekly: Australia exports capital as non-mining business investment languishes
7 October 2019
Across advanced economies, business investment has underwhelmed since the global financial crisis, contributing to weak productivity and lower potential growth.
Markets Today: Something for everyone
7 October 2019
There was something for everyone in Friday night’s US employment report.
Markets Today: US Services sector slips & rate cut hopes rise
4 October 2019
In the US the non-manufacturing ISM read came in a lot lower than expected.
Markets Today: Q4 off to a bad start
3 October 2019
It’s a sea of red for global equities and US bond yields.
Markets Today: RBA takes aim
2 October 2019
The markets have reacted firmly to news from the RBA yesterday.
Becoming Australia’s most connected port: Port of Melbourne
1 October 2019
With the help of some big thinking and timely funding, Port of Melbourne has gone from strength to strength as they meet the needs of a growing Australian economy.
Australian Markets Weekly: RBA preview & views from the UK & Europe
1 October 2019
The RBA meets today and the market is 79% priced for a rate cut with 74% of economists surveyed also expecting a rate cut, including NAB.
Markets Today: Markets brush off yesterday’s news
1 October 2019
US equities are on the rise as markets brush off concerns over the lack of progress on US China trade talks
Harnessing wind to power cities for the future: Pacific Hydro
30 September 2019
Global renewable energy owner, operator and developer, Pacific Hydro partnered with NAB to realise its renewable energy vision.
Markets Today: US equity delisting threat
30 September 2019
US equities felt the heat on Friday with news that the Trump administration was looking at new ways of limiting investment in China.
Markets Today: USD close to two year high
27 September 2019
The US dollar index (DXY) reached over 99.3, close to a two-year high.
Markets Today: New trade hope
26 September 2019
The markets reacted positively to indications from President Trump that a trade deal with China could be close.
Markets Today: Impeachment talk knocks markets
25 September 2019
Impeachment proceedings against the US President has hit equities, bond yields and oil prices hard.
Australian Markets Weekly: unconventional monetary policy nears
24 September 2019
The Government pushes for greater transparency as unconventional monetary policy nears.
Markets Today: will Lowe signal RBA rate cut?
24 September 2019
RBA Governor Philip Lowe is talking in Armidale later today.
Ports: keeping the channels of global trade flowing
23 September 2019
Treasury representatives from Associated British Ports, Peel Ports, NSW Ports and the Port of Tauranga recently met to explore and share their insights on the opportunities and challenges facing port owners and operators.
Markets Today: Trump pours cold water on trade hopes
23 September 2019
Hopes of a quick resolution to the US China trade dispute seem as unlikely as ever.
Markets Today: Will jobless numbers push the RBA to cut sooner?
20 September 2019
There’s rising expectation the RBA will cut interest rates at their next meeting.
Markets Today: Fed turns hawkish
19 September 2019
The Federal Reserve cut rates but didn’t give a clear indication of further cuts or promise the return of QE.
Top 3 reasons companies amend their US Private Placements
18 September 2019
Companies sometimes seek changes to covenants during the life of a 10 to 15-year note. In this article, we examine the issues that can prompt such a request.
Low rates a challenge for superannuation funds & members
18 September 2019
The recent NAB Super Evolution conference considered the implications of low interest rates on investments and asset allocations, and how that could affect superannuation returns.
Markets Today: Oil slides as production returns
18 September 2019
Oil prices fell sharply on news Saudi oil production will be back in full by the end of the month.
Australian Markets Weekly: Generational shift – an older workforce, a lower NAIRU
17 September 2019
Unemployment has edged higher since earlier this year as strong employment growth has failed to keep pace with even stronger growth in the supply of labour.
Markets Today: Saudi aftermath – winners & losers
17 September 2019
Brent Crude rose 20 percent at the market open on Monday morning, the biggest single move since the invasion of Kuwait in 1990.
Real assets expensive but opportunities remain
16 September 2019
Amid an expensive market and an uncertain global economy, fund managers are cautioning discipline, though there are opportunities for investors to look outside traditional markets and work on assets.
Commodity Watch- Crude Oil: Saudi Arabia Refinery Attack Impacts
16 September 2019
Crude oil markets may tighten significantly following weaponised drone attacks on the world's largest oil refinery at Abqaiq on Saturday.
Markets Today: Oil attack hits supplies
16 September 2019
Attacks on the world’s largest oil refinery has hit global supplies hard.
Fewer, larger, more transparent super funds
13 September 2019
The super sector will undergo changes in the next five years that will bring fewer and larger funds, more intrusive regulators and a sharp focus on returns and fees, says Martin Fahy, chief executive officer of the Association of Superannuation Funds Australia.
Markets Today: QE is back at the ECB
13 September 2019
The ECB is to reintroduce quantitative easing.
Markets Today: Draghi’s (almost) last stand
12 September 2019
A stimulus boost from the ECB is widely anticipated.
Markets Today: Bond yields rising
11 September 2019
Globally yields are on the rise again.
Major research centre finds a 17-year refinancing solution
10 September 2019
A landmark PPP refinance meets the needs of investors for a low-risk investment as well as the needs of borrowers for longer-dated debt.
Australian Markets Weekly: High household debt likely weighs on consumer spending
10 September 2019
The Reserve Bank believes the main domestic risk to the outlook is consumer spending.
Markets Today: Bonds sold off
10 September 2019
Bond yields have paved down across the world, driven by a sell-off in German bunds.
Markets Today: Trade war impacts as ECB prepares to pull out the stops
9 September 2019
US payrolls numbers disappointed a little on Friday and China’s trade numbers over the weekend demonstrated what impact the trade war is having.
Plant-based meat a big opportunity for agriculture sector
6 September 2019
The looming generational change in agriculture will bring many development opportunities for the sector.
Markets Today: Talks back on, bonds sell off
6 September 2019
There’s been big moves on equities and bonds today as talks between the US and China appear to be back on.
Markets Today: USD weaker on HK, UK & Italy’s positive news
5 September 2019
The US dollar is weaker today on the back of positive developments in other parts of the world.
Markets Today: US manufacturing shows cracks, Brexit delays & Aussie GDP today
4 September 2019
Very soon it’s likely that the UK parliament will take the first step to delaying Brexit, allowing for yet more negotiating time with the EU.
Super trustees face challenges in assessing merger partners
3 September 2019
In a rapidly consolidating sector, trustees must consider many factors as they eye potential tie-ups.
Australian Markets Weekly: Is office market risk adequately priced?
3 September 2019
Retail property conditions have been mixed given low wage growth and weak consumer demand.
Markets Today: Is a pre-Brexit election looming?
3 September 2019
Boris Johnson stood outside No. 10 Downing Street earlier, saying he didn’t want an election before the Brexit deadline.
The AUD in August 2019
2 September 2019
Offshore events dominated AUD movements in August as the US-China trade war escalated again and pressure for the Fed and other Central Banks to do more also increased.
Markets Today: New month, new tariffs, new uncertainty
2 September 2019
In the US new tariffs on Chinese imports kicked in over the weekend,.
Markets Today: China’s olive branch supports risk-on mood
30 August 2019
In the US, the dollar, equities and bond yields have all risen on the news that China would rather talk than retaliate.
Markets Today: proroguing to Brexit
29 August 2019
UK politics has turned even more toxic with Prime Minister Boris Johnson suspending parliament from September 12, for five weeks.
Markets Today: Markets fall after yesterday’s false hope
28 August 2019
Markets have taken a hit as much of yesterday’s optimism subsides.
NAB Superannuation FX Hedging Survey 2019: summary
27 August 2019
Our 9th biennial survey – the only survey of its kind to examine hedging techniques of Australian super funds – captures their shifting priorities in this rapidly changing landscape.
Super funds ESG survey findings
27 August 2019
Environmental, social and governance (ESG) considerations are fast becoming incorporated into mainstream practice across all sectors of business.
Markets Today: trade war turnaround & Germany downturn
27 August 2019
The markets have done a complete u-turn overnight on the back of positive news on the US China trade talks and some wins from the G7 summit, including proposals to reform WTO rules and a potential US Iran meeting.
Australia Markets Weekly: Global risks intensify
26 August 2019
The main domestic risk to the outlook is the uncertainty around consumer spending.
Markets Today: trade war ratchets up
26 August 2019
China’s official response to President Trump’s latest round of import tariffs sent markets into a spin on Friday.
Markets Today: US & Europe manufacturing weak
23 August 2019
Markit PMIs show US manufacturing has contracted, whilst in Europe it remains in a slump but hasn’t fallen as far as anticipated.
Markets Today: A divided Fed & a failed bond auction
22 August 2019
The FOMC minutes released highlight the divisions in the Fed at their last meeting.
Democratisation of the bond market
21 August 2019
The bond market has long been opaque, with bonds traded in parcels far too large for the average investors, but what might a more accessible bond market look like?
Markets Today: Markets retreat as Conte goes
21 August 2019
The markets retreated from yesterday’s optimism.
Markets Today: USD, equities & bond yields rise
20 August 2019
A wave of positivity seems to have hit the markets.
Australian Markets Weekly: RBA’s thoughts on Australian QE
19 August 2019
The RBA sees Australian QE as unlikely in the near term. Read our analysis.
Markets Today: Germany to spend
19 August 2019
The surprise news on Friday were reports that the German government might relax some of its spending rules to splash out and prevent a recession.
How technology will change the super sector
16 August 2019
Technology has already revolutionised back offices at superannuation funds and wealth management businesses, and is soon to transform customer service as well.
Markets Today: China’s retaliation & Europe’s big bazooka add to bond rally
16 August 2019
An ECB Governing Council member suggests markets hadn’t priced in the extent of the stimulus measures coming next month.
FX podcast: revised AUD outlook
15 August 2019
In this month’s FX Podcast, Ray Attrill and Phil Dobbie discuss NAB’s revised outlook for the AUD.
Markets Today: Bond yields & equities dive
15 August 2019
It’s far from a quiet day in markets.
Markets Today: Tariff delays bring swift response
14 August 2019
There’s been a sharp turnaround in market sentiment as the US announced delays to the extra tariffs on Chinese imports for certain consumer-sensitive products.
Australian Markets Weekly: Mining investment poised for modest rebound
13 August 2019
The RBA thinks the economy may be at a "gentle turning point" underpinned by their optimism for mining investment. The Weekly analyses.
The AUD in July 2019
13 August 2019
After making a high of 0.7081 on July 19th it was pretty much one-way traffic south for AUD/USD from then until month end.
Markets Today: Argentina election shock & HK airport closure
13 August 2019
There’s a continued risk-off mood in the markets today, not helped by protestors forcing the closure of Hong Kong Airport and a surprise defeat of Argentina’s President Macri in primary elections at the weekend.
Markets Today: Forecasts revised as trade tensions rise
12 August 2019
The US President hinted that a resumption of trade talks with China wasn’t a done deal, adding uncertainty in an already shaky market.
Markets Today: China fixes whilst US fiddles
9 August 2019
Are the markets more concerned about the relative strength of the Chinese currency than they are about tariffs?
Markets Today: Germany & NZ send markets on a rollercoaster
8 August 2019
It’s been a hectic 24 hours, with shares falling them climbing back, with bond yields doing the same.
Australian Markets Weekly: impact on inflation of housing downturn
7 August 2019
The Weekly analyses the impact of the housing downturn on inflation.
Markets Today: China helps the bounce back
7 August 2019
US stocks have bounced back and the US dollar has picked up against the Yen.
Markets Today: Market Frenzy on Chinese trade response
6 August 2019
Markets continued in risk-off mood as China announced its response to President Trump’s threat of extended import tariffs.
Markets Today: Market prices US-China trade escalation
5 August 2019
There was a swift market reaction to President Trump’s announcement of further tariffs on imports from China
Markets Today: Trump goes all the way on China tariffs
2 August 2019
A tweet from President Trump promising a 10% tariff on the remainder of imports from China has sent the markets into a tailspin.
Markets Today: Fed cuts as expected but markets still react
1 August 2019
There was some short-term market reaction during Powell's press conference.
Markets Today: Fed decision, Aussie & European inflation, & the falling pound
31 July 2019
Get ready for a busy 24 hours.
Markets Today: Hard Brexit or quick election?
30 July 2019
The pound took another hit today, now at its lowest level since March 2017.
Australian Markets Weekly: The impact of the exchange rate on GDP
29 July 2019
Our analysis suggests that the real exchange rate has more of an impact on growth than earlier RBA analysis.
Customer stewardship in social infrastructure
29 July 2019
The Better Infrastructure Initiative recently launched a Customer Stewardship Roundtable series. Read the insights from the first event.
Markets Today: Stronger earnings, surprising GDP, no grand deal
29 July 2019
The US finished on a high last week.
Markets Today: Draghi ignores the freefall – for now
26 July 2019
The latest IFO readings have shown a sharp downturn.
Markets Today: European manufacturing weakens
25 July 2019
Eurozone manufacturing PMIs are well down, hitting a seven-year low in Germany.
Markets Today: China trade talks next week
24 July 2019
US shares were doing well ahead of the news that trade talks would resume between the US and China next week.
Markets Today: Tying up loose ends before recess
23 July 2019
The race is on to try and get through stuff before the summer recess in the US and Europe.
Australian Markets Weekly: The impact of higher interest rates on household cash flows
22 July 2019
Reserve Bank research suggests that the two rate cuts to date will boost growth by 0.25-0.4pp over two years and lift inflation by only 0.1pp over two to three years.
Markets Today: Cuts out of context
22 July 2019
There was a reversal of fortunes on Friday as the NY Fed clarified comments from their President John Williams the day before.
Markets Today: Heading for a half percent cut?
19 July 2019
Could the Fed be careering to a half percent rate cut at the end of the month?
Markets Today: A darker shade of beige
18 July 2019
The Fed’s Beige Book is out this morning.
FX Podcast: FED likely to cut rates; what’s next for the AUD?
17 July 2019
Ray Attrill discusses whats next for the AUD as it returns above 0.70 USD.
Markets Today: Mixed US data
17 July 2019
US retail sales were strong but t’s not all good news.
Australian Markets Weekly: High household debt as a drag on spending
16 July 2019
Recent RBA research shows that high mortgage debt is a drag on consumer spending, helping explain the weak growth in consumption since the global financial crisis.
Markets Today: China’s stimulus helps
16 July 2019
China's industrial production numbers were far better than anticipated.
Markets Today: China trade slows
15 July 2019
China reported disappointing import numbers at the close on Friday.
Markets Today: rising inflation doesn’t budge Powell
12 July 2019
Fed Chair Jerome Powell didn’t alter his stance despite signs of inflation picking up in the US.
Markets Today: Powell ignores payroll
11 July 2019
Jerome Powell has sent the markets back to where they were before the non-farm payrolls data last week.
Maintaining balance & building a brighter future: Debt Capital Markets
10 July 2019
Panelists at NAB's annual DCM conference discussed the ideal confluence of demand and supply in the Asia Pacific (APAC) region, which is home to some of the worlds fastest growing economies.
Markets Today: Tariffs bite
10 July 2019
Ray Attrill explains how the latest small business survey data in the US shows signs that tariffs on Chinese imports might be starting to make their mark.
Australian Markets Weekly: Forward indicators point to a weaker labour market & lower rates
9 July 2019
The RBA has cut the cash rate to 1%, arguing that lower rates are an effort to reduce unemployment and not a response to a deteriorating outlook.
Markets Today: Markets on hold
9 July 2019
There were no big movements on US equities or bonds overnight, as markets wait to see what Jerome Powell has to say in his Congressional testimonies mid-week.
Markets Today: Jobs! Jobs! Jobs!
8 July 2019
The US payrolls data was stronger than expected on Friday.
Markets Today: Trade slow; yields lower
5 July 2019
Trading has been thin as US markets closed for the 4th July holiday.
Markets Today: Record highs on equities; bond yields fall
4 July 2019
US equities took an early mark on record highs, whilst bond yields fell further.
Markets Today: Carney’s shipwreck
3 July 2019
Global bond yields have fallen after BoE Governor Mark Carney warned of a shipwreck to the global economy if trade tensions intensify.
Integrating ESG in the insurance industry
2 July 2019
NAB recently brought together a group of insurance professionals with ESG market experts and practitioners to explore risk, operations, reputational and investment issues.
Markets Today: RBA in Darwin adding heat to the economy
2 July 2019
The RBA meets in Darwin today and is expected to cut interest rates.
Australian Markets Weekly: Tracking fruit & vege prices in the CPI
1 July 2019
Fruit and vegetable prices are the two most volatile components of the CPI and can have a large effect on headline inflation.
AUD Annotated Chart: June 2019 and FY2018/19
1 July 2019
June was another month of two halves for the AUD/USD.
Markets Today: G20 Boom Boom Pow? Unlikely
1 July 2019
The markets breathed a collective sigh of relief that the Trump-Xi meeting at the weekend culminated in some sort of truce.
Markets Today: False hope on G20?
28 June 2019
Markets seem to indicate a little optimism on the outcome of the Trump-Xi meeting at the G20 this weekend.
Markets Today: Bond yields bounce back
27 June 2019
Will interest rates in the UK go up or down?
Markets Today: Record low yields in Europe
26 June 2019
Risk adversity drives yields to record lows in Europe.
Markets Today: Trump warns Iran
25 June 2019
Even an executive order declaring more sanctions against Iran did little to influence markets.
Australian Markets Weekly: boom in public spending keeps the economy afloat
24 June 2019
Economic growth is slowing as public demand continues to be the main driver of GDP growth.
Markets Today: glimmer of hope for Europe
24 June 2019
European markets reacted to better than expected PMI numbers on Friday
Infrastructure financing – in for the long haul
21 June 2019
Investing in infrastructure is a long-term trend that will continue to endure global economic challenges, generating healthy returns and diversification opportunities as investors enhance focus on environmental, social and governance (ESG) factors.
Markets Today: After the Fed
21 June 2019
The market continues to respond to the Dovish Fed statement yesterday with a rally in US equities, falls in Treasury yields and a fall in the US dollar.
Asia’s growth unlocks value of new markets
20 June 2019
The rising global stature of Asian investors and their search for fresh avenues to deploy their expanding wealth is aiding the growth of new markets.
Markets Today: The Fed, Lowe, BoJ & Bojo
20 June 2019
The Fed has kept rates on hold but have kept the door wide open for future rate cuts.
Australian Markets Weekly: High frequency read on the economy
19 June 2019
The federal election and lower expected interest rates have contributed to a rebound in business confidence- but not business conditions.
Markets Today: Draghi dovish; China talks hopeful
19 June 2019
There’s been a lot of movement in equities and bonds.
A culture shift can help drive prosperity: Australian National Outlook 2019
18 June 2019
Australia is at a crossroads and we face a stark choice – strive towards a more positive future of growth and prosperity or suffer a slow decline.
Cleaner, cheaper electricity: Australian National Outlook 2019
18 June 2019
In a new CSIRO report, Australian energy productivity and low emission technologies offer affordable, reliable energy and create new opportunities and sources of comparative advantage if three key levers are implemented.
Managing our future landscapes: Australian National Outlook 2019
18 June 2019
A report by CSIRO, NAB and 20 other organisations, draws on the latest scientific data and states that Australia is at a crossroads and faces a stark choice – strive towards a more positive future of growth and prosperity or suffer a slow decline.
Technology central to prosperity: Australian National Outlook 2019
18 June 2019
There’s one factor above all others that can help lift a nation’s productivity growth and boost its prosperity and living standards according to a recent report by CSIRO, NAB and 20 other organisations. That factor is technology adoption.
How life in our cities will change: Australian National Outlook 2019
18 June 2019
According to a new report by CSIRO, Australia will have well-connected, affordable capital and satellite cities that offer equal access to quality jobs, lifestyle amenities, education and health services if three levers are implemented.
Australian National Outlook 2019
18 June 2019
The Australian National Outlook 2019 provides a compelling view about Australia’s future.
Markets Today: All eyes on Portugal, the Gulf & US
18 June 2019
What picture will Mario Draghi paint of the European economy at the ECB forum today and what does he intend to do about it?
Markets Today: Lower inflation, yields & rates
17 June 2019
There are rate meetings for the FOMC, Bank of Japan and Bank of England this week, as well as the ECB Forum opening in Portugal tonight.
Strategic FX update: June 2019
14 June 2019
In this month’s currency podcast, our Head of FX Strategy discusses some changes to NAB’s FX AUD forecasts.
Markets Today: Rate cut expectations rise; Gulf unrest grows
14 June 2019
The Aussie dollar was the worst performing of the major currencies overnight following yesterday’s unemployment numbers.
Markets Today: Pipeline sanctions threat as Trump turns focus to Europe
13 June 2019
News of President Trump threatening sanctions on Germany had an immediate impact on the Euro.
Australian Markets Weekly: RBA calls for government support to help reduce unemployment
12 June 2019
Governor Lowe has said that reducing unemployment to the bank’s 4.5% estimate of the NAIRU should return inflation to the 2-3% target band.
The AUD in May 2019
12 June 2019
The AUD/USD came under pressure in May, as renewed trade tensions saw the currency break through the 70-cent floor it had been testing since early February.
Markets Today: China’s stimulus boosts equities – for a bit
12 June 2019
China is doing what it can to boost infrastructure investment.
Markets Today: Markets react to end of Mexican stand off
11 June 2019
There’s a ‘risk on’ mood in the markets this morning after Friday’s u-turn by the US President over Mexican tariffs.
Markets Today: An optimistic ECB despite everything
7 June 2019
The Euro rose today after the ECB spoke little of new measures to combat the economic downturn.
Markets Today: Too much oil, hope for Mexico and ECB on hold?
6 June 2019
Markets are hopeful that a deal will be reached between the US and Mexico, and tariffs will be avoided.
Markets Today: Powell’s balancing act; Lowe hints at more cuts
5 June 2019
There’s been a sharp rise in US equities after comments from the Fed’s Jerome Powell, signalling rate cuts are likely.
Markets Today: RBA rate cut, Fed to follow
4 June 2019
The RBA is expected to cut interest rates today, but more interesting will be what Philip Lowe says this evening.
Australian Markets Weekly: A new easing cycle, the effective lower bound, unconventional policy & forward guidance
3 June 2019
The RBA is expected to cut the cash rate on Tuesday, with a follow-up cut expected in August.
Markets Today: Trade battles drives further uncertainty
3 June 2019
The market continues to adjust to the expectation that the US-China trade spat won’t disappear in a hurry.
Markets Today: Treasury yields fall further as rate cut expectations rise
31 May 2019
Treasury yields have continued their downward direction indicating growing expectations for a Fed rate cut – possibly three.
Markets Today: More risk off, rate cut talk & downward revisions
30 May 2019
How far do US stocks need to fall before the President takes note and tries to resolve the US-China dispute?
Mortgage lenders primed for growth
29 May 2019
We invited Treasury representatives from four non-bank financial institutions and one UK-based asset manager – Liberty Financial, La Trobe Financial and Resimac Group in Australia and Kensington Group and TwentyFour Asset Management in the UK - to an International Round Table to discuss the opportunities and challenges in their respective mortgage and securitisation sectors.
Markets Today: Party for two
29 May 2019
Consumer confidence in the US hit a six month high, yet there’s a continued flight to bonds, pushing Treasury yields to the lowest level since September 2017.
Markets Today: EU election aftermath
28 May 2019
There are repercussions being felt across the continent following the election.
Australian Markets Weekly: Co-ordinated policy easing from the RBA, govt & APRA
27 May 2019
The RBA will be helped by looming personal income tax cuts and a relaxation of prudential regulations on mortgages.
Markets Today: EU votes, Tories squabble, Trump golfs
27 May 2019
Markets calmed a great deal on Friday.
Markets Today: Cold war
24 May 2019
There have been significant moves overnight, with the US dollar losing ground against the Yen and Swiss Franc.
Markets Today: FOMC patient, May stubborn, Trump determined
23 May 2019
In the FOMC minutes the Fed reiterated its pledge to wait and see on interest rates.
Markets Today: Huawei on hold & Lowe goes lower
22 May 2019
US equities have been boosted by a brief reprieve on Huawei trading restrictions.
Strategic FX update: May 2019
21 May 2019
Join NAB's Head of FX Strategy, Ray Attrill as he sits down with Phil Dobbie to discuss his outlook for the FX market.
Markets Today: Will Powell and Lowe hint at rate cuts today?
21 May 2019
Bond yields have risen slightly ahead of Jerome Powell’s talk today - will he give a strong hint a rate cut is coming? And will Philip Lowe from the RBA be doing the same?
Australian Markets Weekly: RBA to signal rate cuts, more evidence of spare capacity
20 May 2019
Shock election result sees the unexpected re-election of the Coalition government
Markets Today: An election surprise
20 May 2019
Following the Coalition’s surprise victory on Saturday night, we’re already seeing a rise in the Aussie dollar.
Markets Today: US against the rest
17 May 2019
Overnight we saw rising US share indices and a strengthening dollar.
Markets Today: Markets buoyed by reports of auto tariff delay
16 May 2019
US and European equities are up again on reports President Trump is delaying auto-tariffs due to kick in this weekend.
Markets Today: ‘Turnaround Tuesday’
15 May 2019
In Europe they’ve nicknamed last night as 'Turnaround Tuesday as stocks regained much of their losses.
Australian Markets Weekly: Is employment feeling the effect of a weaker economy?
14 May 2019
This week, the labour market dominates in Australia.
Markets Today: Markets hit as China bites back
14 May 2019
Stocks, currencies, bonds and commodities have all felt the impact as China responds to US tariffs.
Markets Today: US China trade dispute intensifies
13 May 2019
The US President has threatened further tariffs on China over the weekend, on top of those imposed on Friday.
Markets Today: Tariff deadline hours away
10 May 2019
The imposition of tariffs by the US on Chinese imports is just hours away.
Markets Today: Markets resting on hope of a tariff delay
9 May 2019
US equities have partially reversed their declines.
Infrastructure investments in Australia: Gearing up for the new normal
8 May 2019
Australia offers Asian investors portfolio diversification in a stable economic and political environment.
Markets Today: No deals, no rate cut & little Euro-growth
8 May 2019
US equities have been knocked again as increased tariffs from the US on Chinese imports are looking more likely than not.
Australian Markets Weekly: Persistently low inflation & structural unemployment
7 May 2019
This week we’ve examined excess capacity in the labour market.
Markets Today: Will the RBA cut rates today?
7 May 2019
It’s not beyond the realm of possibility that the RBA could cut interest rates today.
FX podcast – RBA Alert: AUD sub 70? Are you ready?
6 May 2019
David De Garis discusses what to expect at tomorrow's RBA meeting.
Markets Today: US week-end tariff spat
6 May 2019
The US President has been on Twitter in the last few hours threatening to lift tariffs on China by the end of the week
The AUD in April 2019
3 May 2019
The AUD/USD traded in a range of just over 2 cents in April, with (very) brief and small-scale forays above and below the 0.70 to 0.72 range that had confined it since early February.
Markets Today: One day after the Fed
3 May 2019
The market continues to react to Fed chair Jerome Powell’s ‘transitory’ remark on low inflation yesterday.
Markets Today: Powell’s tightrope walk on inflation
2 May 2019
Markets moved sharply during Jerome Powell’s press conference.
Markets Today: the world waits for the Fed
1 May 2019
It’s less than a day before the FOMC meets and Jerome Powell talks to the press.
Australian Markets Weekly: RBA – Inflation-targeting with low unemployment
30 April 2019
The RBA’s central case of further progress in lowering both unemployment and inflation has been challenged by weak GDP growth and now weak underlying inflation.
Markets Today: US spending rises, inflation softer
30 April 2019
It’s been a relatively quiet 24 hours as markets wait for word from the Fed later in the week.
Markets Today: Soft in the centre
29 April 2019
Friday’s headline US GDP numbers was surprisingly strong.
The future of health: CSIRO’s 4 key predictions
29 April 2019
CSIRO’s Future of Health report details what’s needed to keep Australia’s health system efficient, equitable and affordable. Here, we examine four key themes for healthcare business owners.
Markets Today: Is a RBA rate cut even more likely?
26 April 2019
It’s been a dovish couple of days for central banks.
Markets Today: US equities ride high
24 April 2019
Earnings results have pushed US equities to record highs.
Markets Today: US blanket ban on Iranian oil
23 April 2019
The Trump administration announces an end to waivers for nations buying Iranian oil.
Markets Today: What Chinese slowdown?
18 April 2019
China delivered some more positive results in the last 24 hours.
Strategic FX update: April 2019
17 April 2019
Join NAB's Head of FX Strategy, Ray Attrill as he sits down with Phil Dobbie to discuss the recent release of NAB's updated FX forecasts.
Markets Today: Credit where credit is due
17 April 2019
The OECD suggests China’s stimulus measures may only offer short term benefits but the markets are happy to ignore the long term impacts.
The AUD in March 2019
16 April 2019
The AUD/USD traded in a tight range of just 1.65 cents in March, the narrowest range since August 2014 and closed the month at 0.7096, essentially right back to where it started.
Green bonds reaching the mainstream
16 April 2019
Sustainable bonds are appealing to a wider set of investors as the market develops, a recent conference was told.
Australian Markets Weekly: The boom & bust in high-rise apartment construction
15 April 2019
Australia recently experienced one of its largest booms on record in residential investment, driven by new construction as renovations to existing homes inexplicably languished. The Weekly analyses.
Markets Today: China numbers boosts risk appetite
15 April 2019
Last week finished on a positive note, sparked by a strong bounce back in credit growth in China, together with very strong export numbers.
Markets Today: Near half century low for US jobless claims
12 April 2019
The US dollar was helped overnight with surprisingly low jobless claims numbers in the US.
Australian Markets Weekly: How bad is the downturn in house prices?
9 April 2019
The Weekly explores falling house prices – how do they compare with history and international experience?
Markets Today: All tomorrow’s parties
9 April 2019
It’s been a quiet 24 hours that has seen stocks lose some of their gains of last week.
Markets Today: Goldilocks & the magic money tree
8 April 2019
US non-farm payrolls data emed to indicate a Goldilocks economy – more jobs and with wages contained.
Markets Today: Waiting on the payroll
5 April 2019
US payrolls data is out this evening (Australia time) and, unless something else is brewing, markets tend to tread water in anticipation.
Australian Markets Weekly: The Budget, RBA, Election ….
1 April 2019
This weekly investigates the divergence between weak GDP growth and the strong labour market.
Markets Today: China data brings fresh hope
1 April 2019
China’s PMI numbers over the weekend were better than expected.
Enhanced yields from corporate bonds
29 March 2019
High net worth and sophisticated investors are increasingly looking to corporate bonds as a way to preserve capital while delivering higher yields than cash or government bonds.
Markets Today: Drowning (Wo)Man
29 March 2019
The UK Prime Minister will table her Withdrawal Agreement again tonight.
Airports: Balancing expansion needs with sustainability concerns
28 March 2019
NAB recently invited Treasury representatives from Heathrow, Changi, Sydney, Brisbane and Auckland airports to a virtual Global Round Table to discuss the opportunities and challenges of rapid growth in passenger traffic.
NAB Rural Commodities Wrap: March 2019
26 March 2019
Overall, the NAB Rural Commodities Index gained 0.2% in February – “above water” only due to strong gains in fruit and vegetables, dairy and to a lesser extent wool and sugar.
Markets Today: Going nowhere fast
26 March 2019
The pound has suffered the most of the major currencies.
Australian Markets Weekly: Higher minimum wage unlikely to jolt overall wages out of low-growth rut
25 March 2019
In this weekly, we've looked at low inflation, focusing on the role played by weak wage growth.
Is a slowdown coming Australia’s way?
25 March 2019
After 27 years of steady economic growth – a record unmatched by any other developed economy – some are asking whether Australia is overdue for a recession.
Cracking housing affordability with a little help from a simple bond
25 March 2019
A little innovation based on a big idea.
Markets Today: US recession talk & EU helps kick the can
25 March 2019
The markets seem a little spooked with big falls in equities in the US on Friday.
Markets Today: May Day for UK hits Sterling
22 March 2019
So what now for Brexit? Plus the marked reaction to yesterday’s Fed forecasts.
Markets Today: Playing hardball
20 March 2019
Media reports suggest China is playing hard ball in negotiations with the US.
Australian Markets Weekly: WA – only creeping progress likely for now
19 March 2019
In this issue we delve further into the state of the WA economy.
Markets Today: May have to delay for another day
19 March 2019
The markets are on-hold ahead of the FOMC meeting later in the week.
Markets Today: Goodbye to a no-deal Brexit
14 March 2019
And signs that the European economy might be levelling off rather than falling.
Markets Today: May defeated, Boeing grounded
13 March 2019
Boeing's share price has driven the Dow down whilst lower than expected inflation will have had a bit to do with bond prices today.
Australian Markets Weekly: Diagnosing weakness in consumer spending
12 March 2019
In this weekly, we explore the weakness in consumer spending, which helped drive the broader economic slowdown that took the RBA by surprise in the second half of last year.
Markets Today: Risk on as US retail sales bounce back
12 March 2019
US stocks rose sharply following the release of US retail numbers which showed a bounce back in January.
Markets Today: Do the evolution
11 March 2019
Friday saw quite a shocking miss on US non-farm payrolls.
Markets Today: Australia joins the downturn
7 March 2019
Australia’s GDP numbers yesterday surprised many.
Australian Markets Weekly: Back in black – the return to surplus
4 March 2019
The weekly looks at the turnaround in the budget where our analysis suggests the budget returned to surplus in the second half of 2018.
Markets Today: US data is bad but not Eurozone bad
4 March 2019
The US saw some poor economic data on Friday yet bond yields rose as did equities.
The AUD in February 2019
1 March 2019
The AUD/USD was conflicted in February, as improvements in risk sentiment and higher commodity prices pulled the currency higher, but a softer domestic economic outlook and a more dovish RBA acted as an offsetting force.
Markets Today: EU doldrums, UK hope & China’s complication
28 February 2019
Three pieces of news drove sentiment overnight.
Customer stewardship & the institutional investor
27 February 2019
Global investors are increasingly allocating funds to infrastructure and many investors are implementing new methods and measures to both adapt to and lead a stewardship mandate into infrastructure investment.
Markets Today: Powell’s adjustments, May’s delay
27 February 2019
A boost for the pound and mixed data from the US.
Markets Today: China deal close & another vote on Brexit
26 February 2019
There’s been significant progress on the two stories that have hindered markets this year.
Australian Markets Weekly: RBA – watching world, labour market & consumption
25 February 2019
The RBA sees no interest rate rise as likely this year but an increase possible at some stage next year.
Markets Today: Average inflation & deal hopes
25 February 2019
The markets were buoyed at the end of last week by hopes that some sort of trade deal with China was closer.
Markets Today: Fed minutes, UK defections & Aussie jobs
21 February 2019
Have the Fed clarified its position after an apparent U-turn at their last meeting?
Markets Today: Rock steady
20 February 2019
The US dollar is a little weaker this morning as the deadline for US tariffs on Chinese goods looms.
Australian Markets Weekly – The RBA confronts lower potential growth
18 February 2019
The RBA has downgraded its outlook for growth, although history shows that the Bank has regularly overstated growth since the global financial crisis.
US Private Placement 2019 outlook
15 February 2019
US private placements to stay a step ahead of the funding options pack for Australian corporate borrowers
Markets Today: You’re in for a big surprise
15 February 2019
Markets have been choppy on the back of surprisingly poor retail numbers from the US.
Markets Today: Dirty laundry
12 February 2019
The US dollar is now sitting at its strongest level of 2019 in DXY terms.
Australian Markets Weekly – inside housing
11 February 2019
In this Weekly, we delve further into the ins and outs of the Australian housing sector.
Markets Today: Lowe sends Aussie lower
7 February 2019
Words from the RBA’s Governor Lowe send the Aussie dollar spiralling downward yesterday.
Australian Markets Weekly – Could the economy grow more quickly? Is progress at risk of becoming too slow?
4 February 2019
In this Weekly, we take a closer look at the issues the RBA Board will face at its meeting tomorrow.
The AUD in January 2019
1 February 2019
The AUD/USD traded in a larger than usual range in January.
Creating a new project finance market for the war on waste
30 January 2019
As more local governments around Australia seek new ways to treat food waste, councils in southeast Melbourne have met the challenge of bulging landfill and increasing greenhouse emissions by composting household organic waste on an industrial scale.
Australian Markets Weekly – What to make of the latest NAB Survey?
30 January 2019
Business Conditions and NAB
Markets Today: Apple, Brexit & the US Fed
30 January 2019
The US equity markets are mixed ahead of the Apple earnings results.
NAB business renewable survey: January 2019
30 January 2019
Where do Australian businesses stand on renewable energy usage?
Markets Today: US open for business as earnings fall
29 January 2019
Equities took a hit as Caterpillar, a bellwether stock, missed its quarterly forecast, showing that the tariff war isn’t just hitting the Chinese economy.
Markets Today: Europe’s weakening economy
25 January 2019
European PMIs came out weaker than expected. That, together with a downbeat Mario Draghi, saw the Euro weaken.
Market’s Today: Writing’s on the wall
24 January 2019
Negativity on the state of the global economy has managed to overshadow positive earning results from US companies.
The case for sustainable healthcare
23 January 2019
There’s growing awareness across industry, government and the community that we need to improve the way we design, build and operate the buildings in which we heal.
Markets Today: Where have all the good times gone?
23 January 2019
A blue day on the global markets.
Australia’s renewable energy boom to continue in 2019
22 January 2019
Australia’s energy landscape is undergoing a significant transformation which includes the increased penetration of renewable energy technologies.
Markets Today: IMF’s glass half empty, Xi warning on social stability
22 January 2019
On a quiet day on the markets (due to Martin Luther King Day in the US) the main focus has been, again on Brexit.
Australian Markets Weekly – February SoMP Preview – a less optimistic RBA
21 January 2019
In today’s Weekly we preview what to expect for the RBA’s forecasts and the narrative and risk around its outlook for the economy. We’re likely to see the Bank wind back the growth outlook and trim its inflation forecasts.
Markets Today: China to go shopping, UK to vote again?
21 January 2019
There was renewed hope at the tail end of last week the answer to the US China trade dispute isn’t far away.
Markets Today: Delays, good and bad
18 January 2019
There’s still no sign of an end to the US China trade dispute as the end of the cease-fire period draws closer.
Boosting Australia’s gas supply
17 January 2019
As electricity prices continue to rise and domestic gas supply across eastern Australia tightens, Cooper Energy is one company that’s thinking big so it can be a significant part of the solution.
Blockchain: The next big thing
17 January 2019
There is an increasing expectation that blockchain will play a major role as a future economic driver.
Markets Today: A longer Brexit (maybe), a boost for US banks & a bad night for the AUD
17 January 2019
Theresa May has won the confidence vote in her government, so she can battle on with Brexit.
Super funds and banks: partnering for the future
16 January 2019
Tapping into a giant retirement savings pool.
Markets Today: Brexit vote defeat, confidence vote & a Sterling hit
16 January 2019
Theresa May’s government faced a massive defeat in Parliament with a 230 vote loss on their Brexit withdrawal agreement.
Markets Today: Shutdown, slowdown and voted down
15 January 2019
The US government shutdown is now in its 25th day but the direction of the global economy is a bigger concern.
Australian Markets Weekly – US recession probabilities – markets send amber signals
14 January 2019
In the first AMW of the New Year we investigate the important issue of the likelihood of a US recession occurring over the next 12-18 months.
Markets Today: Optimism despite shutdowns, recession prospects & a meaningless vote
14 January 2019
The shutdown impacting parts of the US government remains, the passing of Theresa May’s meaningful vote on Brexit seems unlikely and negative data from Europe has some wondering whether the region is already in recession.
Markets Today: Powell sitting, waiting, wishing
11 January 2019
Fed Chair Jay Powell’s comments at the Economic Club in Washington supports risk sentiment.
Markets Today: FOMC Minutes, Fed speak feeds the mood
10 January 2019
FOMC Minutes just released show Fed more dovish than post Dec-18-19 meeting statement/presser suggested
Markets Today: Talks with China “going very well”
9 January 2019
US-China trade talks extended into a 3rd day.
Western Sydney, Australia’s third largest economy
8 January 2019
New infrastructure is a fundamental piece of Western Sydney’s growth plans.
Markets Today: The dollar is dying
8 January 2019
Positive sentiment in the US on Friday and in the APAC session yesterday has carried through into overnight markets notwithstanding a downside surprise in the US non-manufacturing ISM report.
Markets Today: Good things come in threes
7 January 2019
It was far from a quiet Christmas period, with volatility driven by data, trade concerns, a government shutdown and a very different attitude coming from the US Fed.
The AUD in December 2018
2 January 2019
December witnessed the widest AUD/USD monthly range of the year (3.77 cents).
Markets Today: 2018 in Review
24 December 2018
2018 has been a year of surprises. In the final podcast for the year, the team discuss the year that was and what to expect in 2019.
Markets Today: (If you’re not in it for love) I’m outta here!
21 December 2018
US stocks have fallen markedly since the Fed meeting yesterday, with the dollar also taking a hit and the yield curve flattening a little.
Markets Today: Fed not dovish enough?
20 December 2018
Does the message from the US Fed set the right tone given sensitivities in the markets right now?
Markets Today: Oil lower, Euro economy weaker
19 December 2018
Oil fell even further overnight.
Bringing together councils, universities & companies to support clean energy
18 December 2018
Pioneered by City of Melbourne, participants of the Melbourne Renewable Energy Project combined their renewable energy demand to support a new renewable energy development.
Markets Today: A sea of red
18 December 2018
Equities, oil and bond yields are all down.
Australian Markets Weekly – 2018 wrap and 2019 thoughts
17 December 2018
In today’s Weekly – our last for 2018 – we cover these developments as we wrap up 2018, and look forward to 2019.
Macquarie Uni sustainability bond
17 December 2018
Macquarie saw demand for long tenors and appetite for socially responsible investments.
Markets Today: Driving down for Christmas?
17 December 2018
US shares were pummelled on Friday as fears of a global slowdown widen.
The Australian economy’s quiet achiever
14 December 2018
Education has grown to a scale export industry, and is now Australia’s third largest export earner.
Markets Today: ECB ends QE on a dovish note
14 December 2018
Mario Draghi’s fear of growing downside risks didn’t do too much damage to the Euro.
China opening up opportunities to foreign investors
13 December 2018
The Chinese economy is liberalising and opening up to the rest of the world, paving the way for foreign investors to tap into opportunities in the increasingly wealthy nation, the 2018 ASFA Conference heard.
Australian credit market outlook 2019
13 December 2018
Corporates will need to be nimble and be ready to access issuance windows at short notice in 2019.
Markets Today: These foolish things
13 December 2018
US equities have had a shot in the arm following a Wall Street Journal report that China might open up access to their domestic markets for foreign companies.
Another strong year in the loan market
12 December 2018
Conditions are expected to remain strong for corporate and institutional level borrowers in Australia in 2019.
Markets Today: China Car tariffs reversed & a government shutdown
12 December 2018
A positive reaction to reports China might drop tariffs on US car imports reversed by threats from President Trump about a possible government shutdown if he doesn’t get the funding to build the wall.
Podcast: NAB Monthly Business Survey, November 2018
11 December 2018
The latest NAB business survey shows further weakness in business conditions.
Strong support for Aussie credit in 2019
11 December 2018
After a year of credit spread tightening, investors are becoming more cautious and selective.
Markets Today: Pound pummelled as May delays
11 December 2018
The pound has taken a hit on the increased uncertainty on where Brexit is heading.
The Aussie dollar – finding its feet in 2019
10 December 2018
Our outlook for the Australian dollar looks at the global forces that shape the currency’s fate.
Australian Markets Weekly – No signs of underlying consumer softening
10 December 2018
RBA Deputy Governor Guy Debelle gave a very interesting speech in Sydney last Thursday night. We consider some of the key takeaways.
Bringing together issuers and investors
10 December 2018
Private markets can offer consistent and steady support for issuers, the First Look Conference in Sydney was told.
Markets Today: Weak jobs data, trade tensions & a Brexit to nowhere
10 December 2018
The markets reacted sharply to weaker than expected payrolls data from the United States.
Superfunds turn to venture capital
7 December 2018
Australia’s superannuation funds are turning to venture capital for the outsized returns the sector can generate and to diversify their portfolios, the 2018 ASFA Conference heard.
Markets Today: Markets dive on Huawei arrest & OPEC indecision
7 December 2018
There were big falls in equities in the US and across Europe overnight, with rises in bonds, the Yen, Gold and the Swiss Franc reinforcing the risk-off mood.
Markets Today: China’s Q&A, May’s legal advice & Australia’s GDP
6 December 2018
Chinese authorities issued a Q&A which seems to have buoyed markets a little.
Markets Today: Flatter curves, the Tariff Man & a government in contempt
5 December 2018
Risk sentiment has turned sour all of a sudden, with flattening yield curves preying heavily on the concerns of investors.
Markets Today: Is US-China deal euphoria hiding the real picture?
4 December 2018
Equities were boosted overnight by the positive (temporary) deal between the US and China.
Australian Markets Weekly – Trends in Profitability – mining powering gains
3 December 2018
The Weekly delves into trends in profitability following the release of ABS quarterly Business Indicators data,
The AUD in November 2018
3 December 2018
After rallying at the beginning of the month, AUD/USD mostly range-traded between 72 and 73 cents during the rest of November.
New Year, new opportunities
3 December 2018
As 2018 draws to a close, we’d like to share some of the achievements of our Corporate and Institutional clients over the past year.
Markets Today: Tariffs off, for now
3 December 2018
An agreement was reached between Presidents Trump and Xi at the G20 meeting over the weekend.
The infrastructure opportunity for super funds
30 November 2018
Australia’s superannuation funds should seriously consider infrastructure investment opportunities that help build the nation, NAB Chief Customer Officer of Consumer Banking, and former Premier of New South Wales, Mike Baird, says.
Markets Today: Can you deal with it
30 November 2018
The markets have been treading water ahead of the meeting between Presidents Trump and Xi at the G20 this weekend, impacted a little by the news that Peter Navarro might also be attending the dinner.
New deal connecting Australian businesses to Chinese visitors
29 November 2018
Australian businesses are set to benefit from a collaboration between NAB and Alipay which will revolutionise how Chinese tourists pay for products and services. NAB Executive General Manger of Deposit and Transaction Services Shane Conway said more than 1 million Chinese tourists visit Australia each year spending more than $11 billion. “By making China’s number […]
Markets Today: Brexit fears, more US tariffs & Powell close to neutral
29 November 2018
President Trump is threatening more tariffs – this time on car imports.
NAB Customer Spending Behaviours: Q3 2018
28 November 2018
Total NAB customer spending grew 7.0% y/y in Q3 2018 - up from 5.6% in the previous quarter and 3.0% in the same quarter a year ago.
Markets Today: US warning on China & the Fed’s new neutral
28 November 2018
President Trump has threatened China again, suggesting the prospect of tariffs at the year end is real.
Markets Today: GM closures; oil bounces back; Italian hopes
27 November 2018
There was a spark of confidence in the markets overnight as equities rose in the US, along with a bounce back in oil and a rise in Treasury yields.
Australian Markets Weekly – Population in the spotlight
26 November 2018
Population growth has become an important issue for the economy and associated politics.
Investors see new opportunities in property
26 November 2018
Build-to-rent could provide new avenues for investors as well as improve housing affordability, a NAB conference has been told.
5 recommendations for customer stewardship in infrastructure
26 November 2018
Infrastructure may be complex but that is never a reason for tolerating under performance and insensitivity to customers.
Markets Today: No love to share at the end of Thanksgiving
26 November 2018
Thanksgiving week finished with a rapidly falling oil price and questions over the strength of growth in the US economy.
Markets Today: Didn’t we almost win it all
23 November 2018
Theresa May and European negotiators have agreed an outline of what the relationship will be after the UK finally leaves the EU which helped the pound today.
Markets Today: Back where we started from
21 November 2018
Oil prices and US equities are back close to where they were at the start of the year.
Australian Markets Weekly – The slowing demand for real estate jobs
20 November 2018
Housing market cools; job ads pull back.
Trailblazing farmers
20 November 2018
Technology in agriculture – ‘agtech’ – brings endless innovations to Australian farms. And despite cost challenges, it can improve the bottom line.
Markets Today: Burning down the house
20 November 2018
US stocks take a big hit. The Aussie and New Zealand dollars seem to have come off the worst out of the major currencies with a rise in uncertainty, whereas Sterling has risen.
Markets Today: Fed turns dovish in an uncertain world
19 November 2018
The US dollar and Treasury yields fell on Friday as Fed Vice Chair Richard Clarida said they were close to being neutral on interest rates.
Markets Today: Pound hit hard
16 November 2018
How low can the pound go if the UK shifts towards a no-deal Brexit?
Health hubs: the changing face of Australian healthcare
15 November 2018
Thanks to collaboration, groundbreaking hubs are connecting community, medicine, industry and academia – and creating opportunity.
Markets Today: May’s first hurdle. Step two is survival.
15 November 2018
Uncertainty on whether the UK Cabinet would pass May’s Brexit deal played heavily on the pound overnight but it rebounded when the deal was approved.
Embedding customer stewardship in infrastructure
14 November 2018
Customer stewardship matters because infrastructure is an intimate part of nearly every aspect of our lives, therefore quality of services and astute long-term investment decisions have never been more important
Markets Today: Pound soars as Brexit draft deal done
14 November 2018
A first Brexit milestone could mean a volatile 24 hours or so for Sterling.
Podcast: NAB Monthly Business Survey, October 2018
13 November 2018
Ivan Colhoun, NAB’s Chief Economist, Markets, talks through the findings in the latest NAB Business Survey.
NAB Monthly Business Survey: October 2018
13 November 2018
Confidence and conditions ease.
Markets Today: Brexit and a bucket of salt
13 November 2018
With just 137 days until Britain leaves the EU, how low could the pound could sink given the rising uncertainty?
Australian Markets Weekly – Housing softening but economy read less clear
12 November 2018
We open this week to news that auction clearance rates in Sydney and Melbourne continue to run in the mid-to-low 40%s.
NAB Rural Commodities Wrap: November 2018
12 November 2018
The NAB Rural Commodities Index rose 1.8% in October, following a 6.5% jump in September.
Markets Today: The cutter
12 November 2018
Is the bear market in oil about to turn?
Markets Today: FOMC on hold, Brexit unknown, Italy in trouble
9 November 2018
The FOMC has kept interest rates on hold. Meanwhile Italy and the EU seem to be at loggerheads on budget numbers and the UK’s Brexit secretary appears a little uninformed, as one cabinet minister breaks ranks on Theresa May’s plan.
Markets Today: Divided they stand, divided the dollar falls
8 November 2018
Will the results of the US mid-terms impact the focus of the Fed?
Markets Today: (Dominic and the) hand jive
7 November 2018
As Americans head out to the polls the markets are left guessing whether it’ll be a good or bad result for President Trump.
Markets Today: RBA, mid-terms & the law of the jungle
6 November 2018
We can expect a relatively quiet 24 hours trading as the world waits for the results of the US mid-term elections.
Australian Markets Weekly – Statement of Monetary Policy preview
5 November 2018
This week, we take a closer look into how the RBA forecasts might be evolving, including from still upbeat recent data but still nagging concerns about the outlook.
Markets Today: Fireworks
5 November 2018
Sanctions are stepped up against Iran today. Plus, the latest on Brexit.
Wheat Growers’ Podcast: Harvest crop condition and markets
2 November 2018
As harvest gets started, hear from growers and traders across the country on the first NAB Growers’ Podcast.
Markets Today: Big moves based on small bits of hope
2 November 2018
The US dollar staged a swift reversal overnight, with the spot index falling significantly. We’ve also seen US stocks on the rise, along with significant leaps forward for the Aussie dollar and the pound, whilst oil falls sharply.
The AUD in October 2018
1 November 2018
The AUD/USD continued its downtrend in October, reaching a fresh low of 0.7023 on the 26th of the month, a level not seen since February 2016.
US mid-terms: why should we care?
1 November 2018
What will the US mid-term election results mean for the AUD?
Markets Today: Bouncing into the month as shares turn about face
1 November 2018
US equities bounced higher overnight, helped by Facebook’s earnings report.
Big thinking and investors can save the world
31 October 2018
It’s beginning to dawn on investors – and the people for whom they invest – that they’re in a unique position to change the world, without sacrificing financial gains.
Infrastructure’s missing link: customer stewardship
31 October 2018
Customer stewardship means putting the customer at the centre of our infrastructure.
Markets Today: Dollar hits highs on scary European growth numbers
31 October 2018
The US dollar hit new highs on the back of a falling Euro and Pound.
Markets Today: Shares up, Merkel to step down
30 October 2018
Equities rebounded sharply at the start of the session in the US, but lost ground, but are still up on the day.
Australian Markets Weekly – Views on Australia (and NZ) from UK/Europe
29 October 2018
This week, we report on the main points of interest of UK and European investors on the Australian and NZ economies following a marketing trip there.
Markets Today: Get back
29 October 2018
It’s a big week for global markets as well as the AUD.
Markets Today: A swift reversal in choppy waters
26 October 2018
US equities reversed their declines with a sharp rise overnight, ahead of today’s GDP numbers.
Markets Today: US jittters, Europe soft, Canada & Sweden hawkish
25 October 2018
The US stock market took another hammering overnight, with a move to safe-haven treasuries.
Markets Today: What do I know?
24 October 2018
It has been another bad day at the office for equity markets, beginning in the Asian session and spreading across Europe and the US.
Markets Today: China boosts business. May’s last stand?
23 October 2018
The Chinese stock market performed well on the back of yesterday’s proposals from the government and the PBoC. And there’s increasing questions over whether the UK PM should stand-down.
Australian Markets Weekly: CPI Preview – softer inflation in Q3
22 October 2018
This week, we share our thoughts on inflation, with Q3 CPI due to be released in a little over a week on Wednesday 31 October.
Growing Australia’s fledgling fintech ecosystem
19 October 2018
Alternatives are emerging to give Australia’s fledgling fintech firms easier access to funding.
Green infrastructure and the digital evolution of ESG investment
19 October 2018
Using blockchain to boost green investment: How to create trust, transparency and liquidity for green infrastructure opportunities.
Markets Today: A risk-off mood, just for today?
19 October 2018
There’s caution in the air, but could it just be for a day?
Markets Today: US dollar gains, oil falls, EU wants answers
18 October 2018
Despite increasing tensions over the missing Saudi journalist, oil fell sharply.
Markets Today: bad mood rising
17 October 2018
US shares are racing ahead again on earnings results and further evidence of a strong US economy.
$100 oil – what would it mean for the USD and AUD?
16 October 2018
AUD/USD positively correlated to oil prices more often than not.
Australian Markets Weekly – stock market valuations – how overvalued?
16 October 2018
This week, we're reproducing a thematic piece on US stock market valuations.
Markets Today: Brexit dreams, Saudi denials & Kiwi inflation
16 October 2018
Still hope a Brexit deal can be found, fears of a US response to the death of a journalist in Saudi Arabia seem to have been put on hold, keeping oil prices in check. And a look ahead to today’s NZ inflation figures.
Markets Today: Running to the Brexit cliff
15 October 2018
The pound has fallen sharply as the currency markets opened on the news that a Brexit deal this week is looking very unlikely.
Customer stewardship’s vital role in our infrastructure
12 October 2018
Business should recognise the powerful role it can play in ensuring Australia has the right infrastructure, in the right places; infrastructure that’s affordable, reliable and sustainable.
Markets Today: Another night of the long knives
12 October 2018
Equity markets took another hammering overnight.
Renewable energy the key to a greener economy
11 October 2018
Growing interest from investors has underpinned the rapid development of the renewables sector, a key industry conference has been told.
Markets Today: Is it all downhill from here?
11 October 2018
Overnight saw a big sell-off of US and European stocks.
Markets Today: Brexit hope, Italy’s mess, China’s plans
10 October 2018
Whilst the US economy seems to go from strength to strength, there is speculation that China will ramp up stimulus measures to keep their economy strong.
Markets Today: Risky end to China’s Golden Week
9 October 2018
Equity markets took a hammering overnight. China felt it worst after their Golden Week holiday.
Australian Markets Weekly – housing correction but no macro downturn
8 October 2018
This week, we thought we would look in brief at two important issues and how they are impacting the Australian economy and financial markets.
Markets Today: Rainy days and Mondays
8 October 2018
Strong US payrolls data on Friday saw bond yields push higher.
Markets Today: Aussie down and staying there
5 October 2018
The rising US dollar is playing havoc on emerging market currencies and the Aussie has got tied up in the bad news.
Markets Today: Oilmaggedon & the great treasuries sell off
4 October 2018
Could oil reach $100 a barrel? And why have US treasury yields leapt forward overnight?
Markets Today: Indonesia and Italy spoil the party
3 October 2018
Italy’s travails continue and heightening oil prices are causing problems for Indonesia.
The AUD in September 2018
2 October 2018
September was a challenging month for the AUD/USD.
Markets Today: Markets optimistic as Not-NAFTA deal is done
2 October 2018
An eleventh-hour deal has has buoyed markets and contributed to increased risk sentiment.
Australian Markets Weekly – Hefty Eastern drought but limited GDP impact
1 October 2018
Agricultural prices and production continues to be very region and commodity specific.
Markets Today: Italy overspends
1 October 2018
The size of the Italian government’s budget deficit is causing concern in Europe.
Markets Today: Mambo Italiano
28 September 2018
The Italian budget wasn’t as easy to resolve as the markets had hoped.
Markets Today: Take outs from the FOMC meeting
27 September 2018
The FOMC lifted interest rates in the US this morning with the expectation of another hike in December.
Markets Today: Waiting for the FOMC, NAFTA & Brexit
26 September 2018
The markets are quiet ahead of tomorrow morning’s FOMC meeting. Meanwhile, there seems to be a further waiting game on Brexit and NAFTA.
Building resilience to climate change
25 September 2018
Financial market approaches to understanding the resilience of assets to climate change are fast evolving and ensuring customers and clients are ready to act to limit climate change is a key focus at NAB.
Markets Today: Draghi gets vigorous and oil soars
25 September 2018
Oil reached a multiyear high.
Australian Markets Weekly – A tale of two indicators: SEEK and cranes
24 September 2018
SEEK data for August showed that Job Ads fell again and the RLB Crane Index reported that residential high-rise surprisingly increased.
Markets Today: May throws back the gauntlet; China ups sticks
24 September 2018
The pound took a hit on Friday. Ray Attrill discusses whether we can expect it to sink further this week, and what that could mean for the Aussie dollar, which also fell slightly at the end of last week.
Markets Today: Why the US dollar is falling; Chequers won’t work
21 September 2018
The US dollar is down this morning even though equities are at record highs.
Markets Today: Aussie wins because of (or despite) tariff uncertainty
20 September 2018
Whilst China has promised to retaliate against the US tariffs, it hasn’t gone as far as it could.
Markets Today: Positive moves despite tariffs, threats and confusion
19 September 2018
Yesterday President Trump pushed ahead with further tariffs on Chinese imports and the promise of retaliation soon followed.
The role of the finance industry in managing climate resilience
18 September 2018
Representatives from Australia’s finance sector discuss the importance of managing climate resilience.
Markets Today: Tired of waiting for you
18 September 2018
The Aussie dollar was on the rise overnight, even as all eyes and ears were waiting on an announcement on the next round of tariffs from the White House.
Australian Markets Weekly – AUD still in tariff and EM cross hairs
17 September 2018
In this Weekly, we set out our latest thoughts on the Australian dollar.
Markets Today: Cold shoulder
17 September 2018
The US President is keeping everyone guessing on further tariffs on Chinese imports.
Markets Today: Turkish delight
14 September 2018
Quite a few moving points to what has been a reasonably volatile night in markets.
Managing climate resilience in the infrastructure sector
13 September 2018
Representatives from Australia’s infrastructure sector discuss how they’re responding to the risks associated with climate change.
The Forward View – Global: September 2018
13 September 2018
Growth at a multi-year high but set to slow as risks build.
Markets Today: Aussie up on trade hopes
13 September 2018
The Aussie and Kiwi dollars gained some ground helped by hopes of renewed trade talks between China and the US.
Markets Today: Treasury yields fly high, US optimism soars
12 September 2018
US 10 year Treasuries are closing in on 3 percent again, as expectations firm on two further rate hikes this year.
Markets Today: The waiting game
11 September 2018
No further news on tariffs overnight calmed down emerging markets overnight and gave the Aussie dollar a short reprieve.
The AUD in August 2018
11 September 2018
International and domestic events have added to the AUD/USD volatility.
Australian Markets Weekly – Tobin’s Q: Alive and well in Australian housing
10 September 2018
Nationwide dwelling prices have fallen 4% since their peak in November 2017. How much further will prices decline? As you’d expect there is no simple answer.
Markets Today: You ain’t seen nothing yet
10 September 2018
President Trump has threatened to sharply escalate the US trade war with China.
Markets Today: Waiting in vain
7 September 2018
There’s a risk-off mood in the markets this morning.
Australian Economic Update: Q2 GDP 2018
6 September 2018
Another decent outcome.
Markets Today: Life is a rollercoaster
6 September 2018
The Aussie dollar was higher despite continued woes in emerging markets, whilst the pound gained strength on positive hearsay on Brexit negotiations.
Markets Today: Aussie and Kiwi test new lows
5 September 2018
The Aussie and the Kiwi dollars have hit multi-year lows as the situation worsens in emerging markets.
How social impact investments can help end chronic homelessness
4 September 2018
In a Victorian first, Sacred Heart Mission and the Victorian Government recently launched the state’s first Social Impact Investment, an innovative financing structure that supports positive social change.
Markets Today: Brexit bluster, Aussie data & NZ rate cuts possible
4 September 2018
Quieter markets didn’t help the pound which fell on further UK-EU disagreement on Brexit and more speculation on a leadership challenge.
Australian Markets Weekly – WA resources: hints of labour strains
3 September 2018
The Weekly digs deeper into the revival in resources sector activity in WA
Markets Today: Is the US getting tougher on trade?
3 September 2018
Are hopes of a US-China trade deal waning?
Australian GDP Preview: Q2 2018
31 August 2018
Reasonable growth.
Markets Today: Baby you can drive my car
31 August 2018
Equities and currencies in emerging markets took a tumble overnight, hurting the Aussie and Kiwi dollars in the process.
NAB Customer Spending Behaviours: Q2 2018
30 August 2018
Total NAB customer spending grew 5.6% y/y in Q2 2018, down from 6.8% in the previous quarter and 3.9% in the same quarter a year ago. It grew faster in metropolitan (6.5%) than regional (5.1%) areas.
Markets Today: Special deals, soaring shares & short term funding costs
30 August 2018
The pound soared higher today whilst the Aussie dollar suffered.
US Private Placement investors eye Australian property issuers
29 August 2018
Property issuance in the US Private Placement market is back in favour with investors across North America.
Markets Today: US consumers happy even as clock ticks on so many deals
29 August 2018
US consumer confidence is the highest its been in 18 years, even as the US trade deficit worsens, largely through weaker agriculture exports.
Markets Today: Peso up on trade pact
28 August 2018
There’s been a swift market response to a possible understanding between the US and Mexico to replace NAFTA, helping the Canadian Dollar as well as the Peso.
Australian Markets Weekly – Under new management!
27 August 2018
Australian markets started this week with a new Prime Minister. The Weekly looks at eight key issues for business and investors to consider.
Challenge vs opportunity for Australian health sector
27 August 2018
A survey of more than 100 Australian health practitioners found an interesting mix of contentment and concern. It appears practitioners are torn between mounting challenges and exciting opportunities.
Fundamentals are good for Australian Agriculture
27 August 2018
The nation’s thoughts are with drought-afflicted farmers. As distressing as their current circumstances are, the encouraging news is that underlying economic conditions remain positive and will help them bounce back once the drought breaks.
Markets Today: Stars
27 August 2018
US equities hit record highs on Friday.
Why I do what I do
24 August 2018
Passion, history, ambition. There can be many reasons business owners follow their dream. We asked five company heads to explain their ‘why’.
Identifying the ‘unicorns’ of the art world
24 August 2018
If you think it’s hard to spot the next big digital start-up, imagine picking the next big thing in the art world.
Markets Today: Malcolm moves on. The market impact.
24 August 2018
Ray discusses the possible scenarios that could play out in Australian politics today and what the market impact will be – it’s already hit the Aussie dollar quite markedly.
NAB Consumer Behaviour Survey Q2 2018
23 August 2018
Consumer anxiety up steeply in Q2. Overall spending tightens as concerns about the economy and our household financial positions grow. Spending on utilities a key expense, and growing.
NAB Monthly Cashless Retail Sales Index July 2018
23 August 2018
The NAB Cashless Retail Sales Index gained 0.9% in July on a month-on-month basis, following a gain of 0.5% in June.
Markets Today: Five felonies and the markets don’t care
23 August 2018
News of five of the US President’s associates being guilty of felonies continues to have little reaction on the markets.
How fund managers add value
22 August 2018
Active asset management still offers value despite the rise of low-fee passive strategies in the fixed-income sector.
Markets Today: Not happy Jay
22 August 2018
What influence has President Trump’s discontent with the work of Jerome ‘Jay’ Powell had on the markets?
Property: taking stock of the Australian obsession
21 August 2018
Caution but not panic is the mantra among top Australian property investors as they adjust to a new phase of the market cycle.
Markets Today: A short squeeze on Treasuries?
21 August 2018
Treasury yields drifted lower in the US today.
Australian Markets Weekly – Unemployment & wages heading in right direction
20 August 2018
Last week’s data revealed the slightest improvement in annual wages growth and a welcome further decline in the unemployment rate to a six-year low.
Markets Today: Pipes of peace
20 August 2018
Speculation the US and China will strike a deal on trade around November has given markets some reason for optimism.
Global demand for high-quality Aussie products creates B2B trade opportunities
17 August 2018
The global boom in SMEs in a world hungry for quality Australian goods and services is creating opportunities for local businesses prepared to look beyond their own backyard.
Markets Today: US China trade talks offer glimmer of hope
17 August 2018
Markets turned on their head a little today, as the possibility emerges of trade talks between the US and China before the end of the month.
The Forward View – Global: August 2018
17 August 2018
Growth remains above trend, but risks a concern.
Markets Today: The widening US v rest of the world divide
16 August 2018
The US dollar and equities are on the rise and EM currencies teetering on the edge of a bearish market.
The Forward View – Australia: August 2018
16 August 2018
An unchanged economic outlook, but downside risks building.
Markets Today: Turkey concerns ease; the lowdown on the NAB Business Survey
15 August 2018
Markets seem less concerned about the troubles in Turkey.
NAB Monthly Business Survey: July 2018
14 August 2018
The business conditions index fell by 2pts to +12 index points in July, continuing its run of declines since April. Business confidence ticked up 1pt to +7 index points, an around average level.
Markets Today: A fowl Monday as Turkey spreads
14 August 2018
The Turkish Lira continues to fall.
How FRANKiE4’s expanding its offshore footprint
13 August 2018
With expansion on the horizon, FRANKiE4’s Financial Controller, Jonathan Cole, is focused on the right markets and the right financial facilities to make the leap into Europe and the US.
Australian Markets Weekly – NZD & AUD at the whim of Trump
13 August 2018
The weekly highlights the outlook for the NZD and AUD.
Banks in a reshaped sector
13 August 2018
The financial crisis and its aftermath fundamentally reshaped bank business models, allowing investors to focus mainly on macroeconomic factors when they analyse the sector. Speakers at the KangaNews-NAB Fixed Income Beyond the Institutional Sector Summit shared insights into the present and future of bank investment.
Markets Today: Breakdown
13 August 2018
The crisis in Turkey’s currency is having ramifications far afield.
Markets Today: Cold Turkey
10 August 2018
The Russian Rouble and the Turkish Lira hit hard over US sanctions.
Finance moves a step closer to sustainable goals
9 August 2018
A major conference of the UN Environment Finance Initiative in Australia has been told that the weight of money is driving the shift towards a more sustainable economy.
NAB Rural Commodities Wrap: August 2018
9 August 2018
The NAB Rural Commodities Index gained 1.3% month on month in July, following a 1.4% gain in June. On a year on year basis, the index was down 0.3% in July.
Markets Today: More tit for tat makes it feel real
9 August 2018
The markets are a little subdued this morning.
From start-up to world-class in 12 years: meet WA distiller Cameron Syme
8 August 2018
Lawyer turned whisky distiller Cameron Syme pioneered the whisky-making industry in Western Australia when he launched his business more than 10 years ago. His goal? To make the best single malt in the whole world.
Markets Today: What’s happening with the Yuan?
8 August 2018
The Renminbi rose today and, demonstrating its dependency, the Australian dollar followed suit.
Backing the infrastructure behind the digital economy
7 August 2018
The digital economy has given rise to its own infrastructure needs, and investors are paying attention.
The AUD in July 2018
7 August 2018
The US-China trade dispute dominated AUD/USD movements in July.
Markets Today: US reimposes Iran sanctions tomorrow
7 August 2018
The US move to push ahead with sanctions against Iran will heighten tensions with Europe.
Australian Markets Weekly – RBA: growth ahead but far from a uniform outlook
6 August 2018
The RBA is under the spotlight this week.
Markets Today: Play with fire
6 August 2018
Markets revert to trade focus as China announces specific tariff rises on $60bn goods should the US $200bn threat come into force.
Markets Today: Dirty talk
3 August 2018
Dirty trade talk rattles the markets.
Markets Today: Pressure
2 August 2018
The market reaction to today’s US announcement on Chinese import tariffs, the FOMC meeting this morning and a near certain rate rise from the Bank of England.
Which way now? Australian infrastructure expertise and cross-border investment flows
31 July 2018
As the current phase of privatisations approaches its conclusion in Australia, local infrastructure investors are looking to international markets for investment opportunities. At the same time, global capital that was drawn to the Australian market by the deep pipeline continues to actively pursue Australian deals. This has created significant competition in Australia and seen infrastructure investors increasingly focus on a broader class of assets.
Australian Markets Weekly – What do job ads tell us about the Australian economy?
31 July 2018
The Weekly looks in detail at some of the trends in SEEK job ads and what they tell us about the trends in the various state economies.
Markets Today: FAANGs bitten; bonds hit by BoJ
31 July 2018
Today, a session that has been high on movement, even though it’s been low on data. And the Bank of Japan’s attempts to control bond yields has impacted bond prices across the globe.
Markets Today: US ‘economic turnaround’ brought forward
30 July 2018
The US has boasted about the economic turnaround evidenced by Friday’s GDP figures.
Markets Today: Handbrake on car tariffs; Facebook lands facedown
27 July 2018
Equity markets got a boost from the news Trump and Juncker have reached an agreement to halt further tariffs but tech stocks took a dent from the sharp fall of Facebook’s earning results.
NAB SME Business Survey: June Quarter 2018
26 July 2018
Business conditions ease slightly.
Markets Today: Friends again? Or playing one against the other?
26 July 2018
Despite trade talks, shares continue to rise, but for how long? And what’s happening to Australian inflation – a temporary falter or the start of a softening trend?
NAB Quarterly Australian Commercial Property Survey Q2 2018
25 July 2018
Overall sentiment in commercial property markets (measured by the NAB Commercial Property Index) moderated in Q2. The Index fell 4 points to +17 but remains well above its long-term average (+3).
Markets Today: US and China prepare for the long game
25 July 2018
China’s burst of confidence, irrespective of trade talks, is helping the Aussie dollar, but will it continue if the uncertainty continues?
Markets Today: A weakening Renminbi and rising bond yields
24 July 2018
The Bank of Japan’s changing approach to yield control and China’s policy to protect the economy had the most impact on markets today.
Our big commitments to backing rural Australia
23 July 2018
We’ve listened and we’ve announced three ways we will serve our regional and rural customers better.
Australian Markets Weekly – Mid-year economy and market pulse check
23 July 2018
Today’s weekly includes the results of our recent survey of our readers' views and outlooks for the Australian economy and key financial market indicators.
Setting a road map for sustainable finance
23 July 2018
Globally, the finance sector is directing ever-greater amounts of capital to address social and environmental challenges. Australia has more work to do on this front.
Markets Today: Trump ready to go the full 500
23 July 2018
What will be the impact of a prolonged trade war? Is it bad news for the Aussie dollar?
NAB increases its business focus on health
20 July 2018
NAB is determined that our country’s small and medium sized enterprises, our country’s engine room, can embrace opportunities in the years ahead. For the health sector, we believe it’s a matter of ‘go forth and grow’.
Good times coming for the aged-care sector
20 July 2018
Aged care is a sector that’s been under the microscope for years. But while it has faced real challenges, its future now looks bright.
Backing Australian SME growth with a new approach
20 July 2018
At NAB we see the amazing opportunities ahead for our key sectors – from health to agriculture, education to community – and are determined that our country’s small and medium sized enterprises, our country’s engine room, can embrace them.
Markets Today: the thrill is gone
20 July 2018
The Yuan has served to undermine all of the gains in the AUD generated by yesterday’s good employment report.
NAB backs regional and agri in new division
20 July 2018
With almost one in three Australian agribusinesses banking with NAB, we’re pleased to share our plans for delivering better service for all our regional customers.
NAB increases its commitment to Private Banking
20 July 2018
We’re even more committed to greater specialisation with the announcement of a new geographic approach that will mean even more support for our private banking customers.
NAB Quarterly Business Survey: June Quarter 2018
19 July 2018
Favourable business conditions persist.
Markets Today: UK rate rise (slightly) less certain
19 July 2018
Could slowing inflation cause the Bank of England to rethink the prospect of an August rate rise?
Markets Today: Closer to fine
18 July 2018
The move higher in front end yields boosted the USD, although the greenback was already on the ascendency early in the overnight sessions.
Companies choosing Aussie high yield for growth
17 July 2018
For corporates with a growth agenda but no formal credit rating, the bond market is providing a new avenue for capital.
Australian Markets Weekly – More on bank lending standards
16 July 2018
In today’s Weekly we review the important speech by APRA Chair Wayne Byres last week, which covered developments in housing lending standards.
Markets Today: Know your enemy
16 July 2018
China’s M2 money supply grew less than expected on Friday.
Smokin’: the strategy behind emerging Tassie icon’s monumental export growth
13 July 2018
When BJ Plummer was handed the reins of acclaimed Tasmanian smoked seafood producer Woodbridge Smokehouse, he was instructed not to ‘mess around’ with the brand. We spoke to Plummer about his strategy, which has seen export revenue grow a whopping 1,300 per cent in just three years.
Markets Today: Trump laps up history
13 July 2018
Whilst Trump is overseas, the stock market has rebounded from yesterday’s falls, whilst Brent Crude continues to fall.
Priceless client feedback just one benefit of new Professional Services Awards
13 July 2018
Participants in the Professional Services Awards receive independent, verified feedback from their clients, not to mention publicity and a morale boost if they win. Entries open this month and, with a fast and easy application process, there is no reason for your firm not to join.
The Forward View – Global: July 2018
12 July 2018
Trade risks to the fore.
NAB Quarterly Australian Residential Property Survey Q2 2018
12 July 2018
The NAB Residential Property Index fell sharply in the June quarter 2018, down 17 points to +6 to sit at its lowest level since mid-2016 and well below its long-term average (+14).
Markets Today: Stocks and oil tumble
12 July 2018
The US has imposed extra tariffs on Chinese imports. Gavin Friend discusses the market reaction.
AUD/USD in the 0.70-75 bucket
11 July 2018
AUD/USD is now expected to be largely contained within a 0.70-0.75 trading range.
The Forward View – Australia: July 2018
11 July 2018
Forecasts broadly unchanged but new risks to watch.
Markets Today: Brussels versus Britain
11 July 2018
The next battle for Theresa May is in Brussels – will the EU accept her proposal, at least as a starting point? Plus, US ‘poised’ to release $200bn China tariff list, puncturing risk-positive offshore sentiment.
The AUD in June & FY 17-18
10 July 2018
In June, the AUD/USD saw a new year-to-date low – a level last seen in May 2017 | Over the fiscal year the AUD/US traded between a high of 0.8136 and a low of 0.7311.
NAB Monthly Business Survey: June 2018
10 July 2018
The business conditions index ticked up by 1pt to +15 index points in June, after easing in the previous month. The business confidence edged down 1pts to +6 index points, to be around its long-run average level.
NAB Rural Commodities Wrap July 2018
10 July 2018
The NAB Rural Commodities Index gained 1.4% month on month in June, following a 3.1% gain in May. On a year on year basis, the index was down 2.9% in June. The monthly gain reflects strong lamb, wool and cotton prices.
Australian Markets Weekly – Hurdle to RBA cutting is very high.
10 July 2018
In today’s weekly we consider the case for the RBA cutting the cash rate.
Markets Today: Mayday for the Tories
10 July 2018
The markets outside of the British Isles have seen some positive sentiment, including Australia.
Markets Today: May presents cake as US wage growth crumbles
9 July 2018
Theresa May has presented her Brexit strategy with the full support of her cabinet, apparently.
Trade Tensions on the Rise – July 2018
6 July 2018
Risk to world growth from trade tensions escalating.
Markets Today: Hawkish bankers and positive numbers
6 July 2018
The Fed, ECB and the BoE seem a little more hawkish, indicating that, whatever is going on in the background, their economies seem to be faring well.
Reimagining work in rural Australia
5 July 2018
Thanks to social media, more people are pursuing the job they want, where they want it. Those who prefer country living no longer have to wonder why they’re going to work in the city each day simply to pursue a dream career – as this rural film-maker recently discovered.
How influencer marketing is helping HiSmile build a global brand
5 July 2018
From the beginning, Alex Tomic and Nik Mirkovic knew they wanted to think big, and to think global.
Get the community on side – sponsor a local team
5 July 2018
Helping out a local sports team with sponsorship can build strong relationships with potential customers – pharmacist Silvana Gittani bet her marketing budget on it. Her success proves how many business, regardless of size, can use strategic marketing to engage with their community and forge lasting business ties.
Minerals & Energy Outlook: July 2018
5 July 2018
NAB’s USD non-rural commodity price index declined by over 3% q/q in Q2 2018. This only partially reversed the large gain made in the previous quarter and, as a result, it is still 7.5% higher than a year ago. The fall in Q2 mainly reflected a decline in iron ore and metallurgical coal prices, although LNG export prices – linked to the price of oil – rose.
Markets Today: China’s currency conundrum; trade tariff timing
5 July 2018
On an otherwise quiet day there was some volatility in the Yuan on reports that China is happy with a weakening currency.
NAB Infrastructure Survey 2018
4 July 2018
New research released today by NAB shows electricity and roads have the biggest impact on our daily lives - affecting almost 1 in 2 people (either positively or negatively).
Markets Today: A strong and stable Yuan, a less stable plan for Brexit
4 July 2018
Overnight we saw US stocks fall and bond yields up, but the real action has been in China with a weakening of the Renminbi reportedly kept under control by lots of buying from state banks.
Markets Today: Aussie and Kiwi dollar hit by a hat trick of uncertainty
3 July 2018
The Aussie and Kiwi dollar were two of the worst performing currencies overnight.
Australian Markets Weekly – Funding pressures, BBSW/Y and monetary policy
2 July 2018
Today’s Weekly considers the implications of the recent increases in Australian money market rates for the RBA/monetary policy.
Depth and dynamism in the Asia-Pacific Debt Capital Markets
2 July 2018
Participants at the 2018 Asian Debt Capital Market conference discuss some of the key megatrends bringing depth and dynamism to Debt Capital Markets in the Asia-Pacific region.
Markets today: Pump up the volume and see off Seehofer
2 July 2018
Not the quietest start to the week.
Markets Today: Kiwi slides, trade confusion and EU’s blind summit
29 June 2018
The New Zealand dollar has taken a hit. Meanwhile markets remain confused and concerned about the continuing trade tensions.
Markets Today: A new approach to China
28 June 2018
The new approach to China isn’t any softer.
Markets Today: back to life
27 June 2018
Oil prices pushed higher.
Australian Markets Weekly – Bigger Australia: population growth still strong
26 June 2018
In this Weekly, we dive into the latest Australian demographic data.
Markets Today: Markets dazed and confused by trade talk
26 June 2018
The markets are a little uncertain about how to price the rising tariff confusion, with equities hit hard today but other risk-off signs – such as gold and bonds – hardly moving.
NAB LABS Australian Business Innovation Index 2018
25 June 2018
Business innovation levels rebound; leadership pivotal to growth.
Markets Today: Jump
25 June 2018
President Trump’s protectionist measures and OPEC’s increased oil production could be the two major market influences this morning.
Australia economic outlook: Don’t expect perfection, but don’t panic
22 June 2018
Political risks and uncertainty may be on the rise. But a recent tour of Asia for the NAB Asian Debt Capital Markets Conference reminded NAB Global Head of Research Peter Jolly of the many causes for optimism about Australia’s economy.
Markets Today: US stocks down, pound up
22 June 2018
The biggest moves have been in US equities, hit by a court ruling on state taxes, and the pound, after a moderately hawkish Bank of England meeting.
Markets Today: Trade Tariff Ambivalence Rules the Day
21 June 2018
The markets have moved very little today as investors contemplate the next steps in the tariff battle between the US and China. Even the EU response, with tariffs to follow on Harleys, Levis and Bourbon, did little to stir a response.
NAB Monthly Cashless Retail Sales Index May 2018
20 June 2018
The NAB Cashless Retail Sales Index gained 0.8% in May on a month-on-month basis, following a flat read in April (revised from -0.6%).
Markets Today: Tariff talk hits harder
20 June 2018
Equities, currencies, bonds and commodities all reacted to more rhetoric from President Trump about Chinese tariffs.
Is eHealth the key to a healthier practice?
19 June 2018
An ‘e’ prefix tends to indicate a technological leap forward, and that’s certainly the case for ‘eHealth’. It’s helping patients manage their own health and changing their relationship with healthcare providers. So, where does that leave your bottom line? NAB’s Cameron Fuller examines the impact of technology and contemplates potentially profitable new business models.
Green mortgages and the future of sustainable funding
19 June 2018
When Australia’s first green residential mortgage-backed securities (RMBS) tranche was issued by NAB in February 2018, it was an exciting development for the sustainable debt market in its own right. The transaction also marks another step in the process of unlocking the bank’s balance sheet for sustainable lending and borrowing.
The ‘megatrends’ reshaping Asia Pacific debt markets
19 June 2018
At NAB’s 2018 Asian Debt Capital Markets Conference, experts, issuers and investors zeroed in on the forces that will build connections and foster future opportunities.
Markets Today: All quiet except on the oil front
19 June 2018
There’s been very little movement in anything overnight, except the price of oil.
Australian Markets Weekly – Across the border: momentum in SA
18 June 2018
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.
More investment in renewable energy projects
18 June 2018
Major Australian organisations are now directly investing in large-scale renewable energy projects through the new NAB Low Carbon Shared Portfolio, the first of its kind in Australia.
A new way to invest in wind and solar farms
18 June 2018
The Low-Carbon Shared Portfolio is the first of its kind in Australia.
Markets Today: Anything you can do
18 June 2018
Trade talks between the US and China took a turn for the worse at the end of last week, with the Trump administration issuing a list of $50 billion worth of products that would be hit with a 25 percent tariff.
Man of mettle: how Peter Doonan built a big business in the back shed
15 June 2018
Sweat, smarts and steely resolve have seen Peter Doonan transform his Sunday backyard business into a thriving supplier of steelware to the rural market.
A woman’s place in the kitchen manufacturing business
15 June 2018
Hard work and commercial nous acquired on the fly have helped Queenslander Carmel Sales turn a small-time cabinetmaking business into a multimillion-dollar manufacturing powerhouse.
Markets Today: Euro trashed on ECB hike delays
15 June 2018
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.
NAB Forward View – Global: June 2018
14 June 2018
Cracks starting to show in the upward global growth momentum.
The unstoppable rise of investing with purpose
14 June 2018
Socially responsible investing has skyrocketed in Australia over the past few years. What does it mean to invest responsibly and what is its impact?
Top of the hops: the growers dominating Australia’s beer
14 June 2018
If you like a schooner of beer, it’s likely you’ve sipped a brew made with hops from Hop Products Australia. Having weathered this boom-bust industry, and as Australia’s largest hops grower today, the team at HPA is passionate about these little cone-like flowers – and about bringing distinct fresh flavour to every glass.
Markets Today: Fed Up
14 June 2018
The US federal Reserve lifted interest rates this morning, as expected.
The Forward View – Australia: June 2018
13 June 2018
Economy off to a strong start early in 2018
Bankers and scientists working together on climate scenarios
13 June 2018
A UN Environment project brings together experts to help banks stress test for climate change.
Markets Today: On FOMC-eve, a Bromance, a Brexit win and the NAB Business Survey
13 June 2018
There was little market reaction to the big deal between Presidents Kim and Trump.
Australian Markets Weekly – USD Outlook: It’s Complicated
12 June 2018
In today’s weekly, and as President Trump and Kim Jong Un meet in Singapore, we look at the outlook for the US$.
NAB Monthly Business Survey: May 2018
12 June 2018
The business conditions index decreased by 6pts to +15 index points, easing back from the historical highs seen in April. The business confidence index fell by 5pts to +6 index points, to be around its long-run average level.
Markets Today: Trump’s one – on – Un just hours away
12 June 2018
Can we expect any market reaction to the Singapore Summit? Also, the response to the spat between Trump and Trudeau, the disappointing manufacturing data from the UK and the start of a busy week for central banks and Brexit talks.
Markets Today: G7; Brexit; North Korea – Deal or No Deal?
8 June 2018
Leaders going into G7 seem to be holding their positions firm on trade tariffs and the Iran Nuclear Deal. So much so, it’s unlikely the markets will pay too much attention.
Australian Economic Update: Q1 GDP 2018
7 June 2018
GDP Growth rebounded in Q1, supported by the household and government sectors and export growth.
Markets Today: Will the ECB unwind? Less news means more risk-on
7 June 2018
The market has turned its focus on what the ECB will say about the timetable for unwinding its QE program when they meet next week.
A new age of sustainability at Australian Catholic University
6 June 2018
The world’s first sustainability bond from a university is funding a better future for students and for vulnerable communities.
Markets Today: Oil, NAFTA and the Conte Controversy
6 June 2018
Further speculation that NAFTA talks might fall apart, strong data from the US and UK, and a look ahead to today’s GDP figures for Australia.
Ausgrid shines a light on US private placement market
5 June 2018
Part-privatisation was the catalyst for an epic US private placement deal for Australian utility Ausgrid.
NAB Rural Commodities Wrap June 2018
5 June 2018
The NAB Rural Commodities Index gained 3.1% month on month in May after falling 2.8% in April. On a year on year basis, the index was down 4.4% in May. The monthly gain reflects strong grain, horticultural, dairy, wool and cotton prices.
Markets Today: Trade war? What trade war?
5 June 2018
The markets have switched back to risk-on, helping the Aussie dollar rise faster than any of the majors this morning.
Australian Markets Weekly – US price pressures and labour market tightness
4 June 2018
There is expected to be continuing downward pressure on the AUD from interest rate differentials given higher US yields.
Markets Today: Strong enough
4 June 2018
After the excitement of Parmageddon last week, followed by the sudden enforcement of steel and aluminium tariffs on Trump’s supposed allies, the markets can at last look forward to a more traditional week where data and central bank policy drives the agenda.
NAB Australian Wellbeing Report: Q1 2018
1 June 2018
Home ownership is a key to wellbeing according to new research from NAB
Australian GDP Preview: Q1 2018
1 June 2018
Solid start to the year.
Markets Today: I feel like tariffs tonight
1 June 2018
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.
Markets Today: Did Parmageddon go too far? Inflation next to watch for
31 May 2018
The markets have retreated somewhat from yesterday’s tumultuous response to uncertainty over who will govern Italy, and their stance on the Euro and EU membership.
Powering into the Australian market
31 May 2018
Breaking into the Australian renewable energy market with a new mode of financing was a great challenge and a golden opportunity for Goldwind. Three deals later, the company’s aiming to power one million Australian homes.
Markets Today: Italian meltdown as early election looms
30 May 2018
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.
Are we an entrepreneurial nation?
30 May 2018
Australia is a high performer in academic research – yet when it comes to commercialising that research, we rank last in the industrialised world. It’s time for change, says the Chairman of NAB.
Keeping my ‘why’ front and centre
29 May 2018
My ‘whys’ haven’t changed over 25 years at NAB. I’m still driven by the impact economics has on our lives and the importance of delivering independent analysis that helps people and institutions make better decisions.
Markets Today: Italian Summer
29 May 2018
Italy looks set to go back to the polls. NAB’s Rodrigo Catril looks at the market reaction on today’s Morning Call podcast.
Australian Markets Weekly – Boring, boring, boring as the central forecast plays out
28 May 2018
Despite an awful lot of noise in markets, the boringly positive development has been that the central forecast for a slow improvement in Australian and global growth, continues to play out.
Markets Today: Conte out, oil down, talks on
28 May 2018
The breaking news this morning is that Italy’s premier designate Guiseppe Conte has stepped aside, unwilling to form a government.
Markets Today: Markets in a half-hearted risk-off mood
25 May 2018
There wasn’t a strong response to the news that peace talks between the US and North Korea have broken down.
NAB Customer Spending Behaviours: Q1 2018
24 May 2018
Total NAB customer spending grew 6.8% y/y in Q1 2018, up from 5.0% in the previous quarter and 2.0% compared to the same quarter a year ago.
Using trade finance to grow
24 May 2018
Do you own a small business that’s selling overseas or importing products and equipment into Australia? Trade finance can help you make the most of opportunities without tying up your valuable working capital.
Markets Today: Risk-off mood on a raft of growth concerns
24 May 2018
Italy’s new government, Turkey’s emergency rate hike, the failing China trade deal, the UK’s weakening inflation, slow growth in Europe, tensions over Iran – there’s a lot to be concerned about.
Data-driven diversification breeds sustainable success
23 May 2018
While many city dwellers see farming as old-fashioned, Kim and David Coulton and family of Morella Agriculture know it’s all about cementing market share by staying on top of the science and technology curve.
Another evolutionary step in sustainable funding
23 May 2018
The launch of the green-loan principles (GLPs) presents an opportunity for another evolutionary step in sustainable funding. By standardising and codifying what qualifies as green bank lending, the GLPs could make sustainable finance relevant to a wider cohort of borrowers according to David Jenkins, director, sustainable capital markets at NAB.
Markets Today: Oil choppy over Venezuela; Trump doubtful on North Korea outcome
23 May 2018
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.
Entrepreneurs: how to get ahead (and get funding)
22 May 2018
Joining innovation hubs, considering alternative funding options and building courage in investors are all paths to a greater entrepreneurial network in Australia, according to business leaders.
Markets Today: US stocks rise and NAB pushes back date for assumed rate hike
22 May 2018
The positive news regarding China has seen stocks rise in the US today but there has been little movement on Treasuries or the US dollar.
Australian Markets Weekly – NAB delays first rate hike until mid-2019
21 May 2018
The change reflects the fact there's no sign as yet of stronger wages growth and unemployment has been stuck at around 5.5% for the best part of a year. We still expect the economy to strengthen, leading to a declining unemployment rate.
NAB change in cash rate call: May 2018
21 May 2018
First 25bp increase now expected mid-2019.
Markets Today: Truce
21 May 2018
Steven Mnuchin says the trade war with China is on-hold, for now, after the agreement that will see China supposedly buying more from the US, but not the reported extra $200 billion worth.
24 Hours with Elissa Renouf
20 May 2018
Rising to the challenge of parenting four children with Type 1 diabetes prompted Elissa Renouf to found Diabete-ezy, a rapidly expanding business whose products help other sufferers manage the condition. We spend a day with her in export and expansion mode.
Which businesses are thriving in the ‘Experience Economy’?
18 May 2018
Australians rate restaurants, movies and travel as the most positive experiences their money can buy, according to new research from NAB.
Markets Today: What if Trump’s headline promises don’t come to pass?
18 May 2018
President Trump has been making headlines with peace treaties and trade pacts, but what if they don’t happen? North Korea has threatened to pull out and now the President is saying the China talks may not be successful.
Australian fixed-income market evolution boosted by institutional term loans
17 May 2018
A new debt market is evolving that could help give mid-sized Australian companies that don’t have a credit rating more options to secure debt funding from investors.
Yield hungry investors head to Oz
17 May 2018
NAB and Asiamoney's latest poll on Asian and European investors’ appetite for Australian debt tells a story of consistency and stability as the region presents a safe option amid turbulence - while also offering sustainable opportunities.
Beef Australia is a wrap
17 May 2018
Beef Australia is a wrap for another three years. The NAB Agribusiness team had an amazing week, catching up with customers and industry leaders, and learning a lot about where the industry’s heading.
Markets Today: European bonds hit by Italian populism
17 May 2018
In Italy, the populist parties aiming for a coalition Italian government are said to be demanding a €250bn debt write down by the ECB.
NAB Monthly Cashless Retail Sales Index April 2018
16 May 2018
The NAB Cashless Retail Sales Index was weaker in April, down 0.6% on a month on month basis in March.
Markets Today: Treasury yields hit four-year high, US dollar reaches year’s peak
16 May 2018
US ten-year treasuries were up eight basis points this morning, with the US dollar reaching a new high for the year so far.
NAB’s clean energy team powers 2.1 million Australian homes
15 May 2018
This week NAB's 100th green energy project provides funding for the Crowlands Wind Farm project in Western Victoria.
Markets Today: Oil rises on unrest; US and European yields boosted
15 May 2018
The continuing rise in oil prices and rising bond yields in the US – where they have tipped the 3% yield mark again.
Australian Markets Weekly – Inside housing: orderly softening
14 May 2018
It was a subdued end to last week for markets, oil still high in the aftermath of Trump reimposing sanctions on Iran. The housing sector is our special topic for this Weekly.
Markets Today: Trump blows hot and cold on tariffs
14 May 2018
Trump seems to be offering a lifeline to Chinese telecoms company ZTE, whilst threatening car manufacturers with a 20 percent import tariff.
Markets Today: Iran makes oil bumpy, weaker CPI pushes yields lower – Preview
11 May 2018
It’s been a bumpy day for oil following Trump’s withdrawal from the Iran Deal. But it’s today’s weaker than expected US CPI data that has had the most influence, driving down Treasury yields and giving a boost to share prices.
Spikes in demand: preparing
10 May 2018
A big order could completely transform your business but there’s a limit to how much anyone (or any small business) can handle. BDO partner Dr Mark Pizzacalla and Total Image Group CEO Pamela Jabbour discuss preparation, parameters and being strong enough to say ‘no’.
Face it: the future is here
10 May 2018
Biometric authentication is being rolled out across various industries – and the possibilities feel endless.
Seven steps to Asian export success
10 May 2018
Keen to export to Asia? Make sure you understand what’s involved and how best to prepare.
Markets Today: US Treasury Yields, Stocks & Oil up on Iran decision fallout
10 May 2018
Markets react firmly to the US decision on the Iran Deal and the news the markets don’t want to hear about the Italian government.
Markets Today: Last night’s Budget and Trump’s hard exit from Iran deal
9 May 2018
The US to reinstate tough economic sanctions against Iran, with the threat of secondary sanctions against those who continue to support the regime. Plus last night’s Budget, Theresa May’s split cabinet and the risk of another election in Italy.
In Focus: Beef – May 2018
8 May 2018
2018 has been exceptionally dry across much of Australia, with knock-on downside to restocker interest and young cattle prices.
NAB Monthly Business Survey: April 2018
7 May 2018
Business conditions at record levels.
Alipay has landed
7 May 2018
With 1.2 million visitors injecting $10 billion into the Australian economy each year, and almost one third of our international students now coming from China, Chinese custom is big business. Alibaba Australia’s MD explains Alipay.
Take a seat to become a better leader
7 May 2018
The skills you learn around the board table could have a big impact on the way you run your business. Here are six of the benefits.
Markets Today: The week ahead for the Dollar, China, Iran, Argentina and Brexit
7 May 2018
Will the US dollar rally continue this week?
NAB Customer Spending Behaviours: Q4 2017
4 May 2018
Total NAB customer spending accelerated to 5.0% y/y in Q4 2017, from 3.0% y/y in the previous quarter with spending growth up across all metropolitan and regional areas.
The AUD in April 2018
4 May 2018
April was a month of two halves for AUD/USD. Get the picture with our annotated chart.
Healing power of sweet design
4 May 2018
Daylight, a sense of space, a natural outlook… architecture professor Julie Willis on how Australia is taking up the ethos of beautiful hospital design.
Markets Today: Markets a little testy ahead of payrolls
4 May 2018
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.
Five ways to grow locally
3 May 2018
Heading overseas isn’t the only way to grow your business. Here are five ways to consider pumping up your revenue on home ground.
Get your workspace makeover right
3 May 2018
Fitting out or refurbishing a work space? It’s a big outlay. These tips can help you spend wisely.
Markets Today: Is it ‘Mission Accomplished’ for the Fed?
3 May 2018
Words from the Fed have had little impact on the markets, across all sectors, except oil and gold, which rose on the news that not much has changed.
Boosting your business premises’ value
3 May 2018
From a lick of paint to renting out rooms – 10 ideas on boosting the value of your own building.
Essential tips for hiring staff
3 May 2018
Do you own an expanding small business? Here are some tips to get more talent on board without sending your direct costs soaring.
Markets Today: Soaring dollar as US leaves the pack behind
2 May 2018
Suggestions the move reflects the US economy gaining momentum, whilst other economies are failing to keep pace.
Markets Today: Iran is Trump’s next challenge
1 May 2018
Tapas Strickland suggests the markets are getting used to the US President’s style and that could ease concerns over future Trumpisms.
Markets Today: Markets not drawn on peace promise, yet
30 April 2018
Why such little reaction to Friday’s historic peace promise? NAB’s Ray Attrill suggests why it failed to move the markets, and looks to this week’s major influences.
Markets Today: Cautious Man
27 April 2018
The Euro and European bond yields took a blow today as the European Central Bank failed to commit to a timetable for the ending of quantitative easing.
NAB Quarterly Consumer Behaviour Survey Q1 2018
26 April 2018
Insights into the mindset of Australian consumers – anxieties around future spending and savings plans, household finances, the economy, financial concerns & how these are impacting spending behaviours and levels of financial hardship.
NAB SME Business Survey: March Quarter 2018
26 April 2018
Business conditions strong and businesses have their say on tax.
Markets Today: 10 year Treasuries pass the 3% mark
26 April 2018
US 10-year treasury yields have moved passed 3 percent, boosting the US dollar and sending the Aussie dollar careering downwards.
Markets Today: 24 April 2018
24 April 2018
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.
Australian Markets Weekly: 23 April 2018
23 April 2018
FX Hedging Trends
Markets Today: 23 April 2018
23 April 2018
If Steven Mnuchin reaches a trade pact with China, will it create enough confidence to push the Aussie dollar out of its trading range?
Pathways to Building Australia’s Entrepreneurs
20 April 2018
Our small and medium businesses are critical to Australia’s prosperity, so it is important that we put in place the right settings that enable our entrepreneurs to have the greatest chance of success.
The secrets of successful goal-setting
20 April 2018
Setting goals can drive business success – but it doesn’t come naturally to many small business owners. Consultant and author Stephen Barnes shares tips on how to get started, how to set effective goals and how to motivate your staff to reach their targets.
What to expect on NAB’s 2018 Agribusiness Japan Tour
20 April 2018
From June 14 to June 25, I’ll be leading NAB’s 2018 Agribusiness Japan Tour. If your business involves cattle farming, sheep farming or horticulture and you’re interested in the connections, insight and strategies being used to succeed in Asian markets, I encourage you to join me.
Markets Today: 20 April 2018
20 April 2018
Inflation. Watch out, it’s coming.
Is there a secret to successful business expansion?
19 April 2018
What is it that drives, creates and sustains great business growth? Four leaders with business growth in common share what lies behind their success.
Amping it up – how Australia’s latest high-tech success story got airborne
19 April 2018
Melbourne-based start-up Culture Amp is flying high after raising $36 million. So how did they manage it?
NAB Quarterly Business Survey: March Quarter 2018
19 April 2018
Business conditions strong and businesses have their say on tax.
Corporate Income Tax Cuts – from a Business Perspective
19 April 2018
Based on responses from the March 2018 Quarterly Business Survey.
Markets Today: 19 April 2018
19 April 2018
Rising commodity prices, stalling inflation, a flattening curve and cautious Canadians
NAB Quarterly Australian Commercial Property Survey Q1 2018
18 April 2018
Overall sentiment (measured by NAB’s Commercial Property Index) rose 4 points to +21 in Q1.
NAB Monthly Cashless Retail Sales Index March 2018
18 April 2018
The NAB Cashless Retail Sales Index grew 1.2% on a month on month basis in March – slower than January or February.
Markets Today: And the beat goes on
18 April 2018
In a busy #MorningCall podcast @NAB’s Tapas Strickland talks to Phil Dobbie about US earnings, trade concessions, IMF forecasts, UK wages, Chinese retail, the RBA minutes, Bank of Canada, and more!
Selling dahl to India: Agromin turns Australia into major supplier
18 April 2018
Agromin Australia is expanding its exports by sticking to what it knows best – pulses for the Indian subcontinent. Owner Rajni Patel explains how the company is cornering a larger and larger share of the market for Australian farmers.
Beef industry pushing FMDs to another record in FY18
18 April 2018
Beef producers are outperforming other industries in adding to Farm Management Deposits (FMDs), with the national balance expected to break another record this financial year.
Khan Horne talks about what to expect at Beef Australia 2018
18 April 2018
Hear from Khan Horne, GM Agribusiness, NAB about what he is seeing across the beef sector, what to expect during Beef Australia 2018, and how NAB is supporting the industry generally and on location at Rockhampton – 6-12 May.
China’s economy at a glance: April 2018
17 April 2018
Can China maintain its stable growth profile as trade tensions increase?
Markets Today: Run over by a truck
17 April 2018
It’s company earnings and global politics driving markets today. @NAB’s Rodrigo Catril joins Phil Dobbie to talk about President Trump, Shinzo Abe, Theresa May, Michael Cohen and the next Deputy Governor of the US Federal Reserve.
Australian Markets Weekly: 16 April 2018
16 April 2018
Testing and (hints of) building capacity
How two schoolmates shook up the global healthcare industry
16 April 2018
Two Australians – a doctor and an engineer – launched the ‘private healthcare in tough conditions’ industry and grew a business that now fights Ebola and runs warzone hospitals.
Markets Today: High Hopes
16 April 2018
Will the Syria missile strikes hit the markets today. @NAB’s Ray Attrill says not on today’s edition of #TheMorningCall podcast
NAB Rural Commodities Wrap April 2018
16 April 2018
The NAB Rural Commodities Index gained 3.0% month on month in March, its second consecutive rise.
Funding diversity propels Australia’s corporate bond issuers
13 April 2018
NAB’s review of first quarter corporate debt issuance.
Markets Today: Possibly Maybe
13 April 2018
Another day, another direction for US equities. Today they’re back up (for now) on easing tensions over Syria (for now). Join @NAB’s Gavin Friend and Phil Dobbie on #TheMorningCall.
NAB Forward View – Global: April 2018
12 April 2018
First shots fired in the US-China trade war.
Markets Today: US missiles and inflation – both are on the horizon
12 April 2018
President Trump’s missile warning spooks US equity markets for a while, but @NAB’s David de Garis said it was only a mild risk-off mood.
The Forward View – Australia: April 2018
11 April 2018
Still see growth momentum improving.
Markets Today: Big Love
11 April 2018
US equities and commodity currencies boosted by President Xi’s calming talk overnight – but @NAB’s Ray Attrill warns we can continue to expect periodic risk off sentiment.
NAB Monthly Business Survey: March 2018
10 April 2018
Business conditions come off the boil, but still hot.
NAB Charitable Giving Index report: February 2018
10 April 2018
More Aussies are opening their wallets to charity, says NAB report.
Markets Today: Every Day is a Winding Road
10 April 2018
US shares back up as trade war fears ease again, even though China threatens currency devaluation as a tool against tariffs. @NAB’s Tapas Strickland joins Phil Dobbie on today’s Morning Call podcast.
Australian Markets Weekly: 9 April 2018
9 April 2018
Views from the US on Australia and the US
Wine by design: Barossa winemaker takes hands-on approach
9 April 2018
Making wine is a very personal venture for this Barossa Valley-born and bred artisan combining two passions in his small-batch business.
Markets Today: Trade war, real war and soft payrolls
9 April 2018
On #TheMorningCall today @NAB’s Rodrigo Catril on the impact of trade war rhetoric and the fallout from Syria. Plus softer payrolls from the US on Friday.
AUD Annotated Chart: March 2018
6 April 2018
March was a month of two halves for the AUD/USD.
NAB Quarterly Australian Residential Property Survey Q1 2018
6 April 2018
The NAB Residential Property Index rose 3 points to +23 in the March quarter 2018 and remains well above its long-term average (+14).
Markets Today: Beast of Burden
6 April 2018
On #TheMorningCall from @NAB, the US dollar recovers a little and stocks rise as investors hope tariff talk is more rhetoric than action. Plus, payroll figures tonight.
Markets Today: The Heat Is On
5 April 2018
Equity markets fall then bounce on China tariffs, then talks of trade talks. Get up to speed on the #tradewar latest on #TheMorningCall from @NAB.
Chapter 3: Future of Health – The health system
4 April 2018
The trends reshaping health and the future implications for the Australian marketplace.
Markets Today: Mo Money Mo Problems
4 April 2018
The FAANGs bite back – on #TheMorningCall Phil Dobbie talks to @NAB’s Tapas Strickland about a slight market bounce, plus rising funding costs for the US government.
Markets Today: Trouble
3 April 2018
Phil Dobbie asks NAB’s David de Garis if this is the end, or the start of it?
Infrastructure in the US Private Placement market
29 March 2018
Ports and airports, toll roads and tunnels. These are just some examples of infrastructure sold into the US Private Placement (USPP) market over the last several years.
Markets Today: Turning Japanese
29 March 2018
Technology out of favour, markets a little confused.
Markets Today: 28 March 2018
28 March 2018
Early in the session it looked like share trading in the US was going to build on the upward momentum of yesterday, but then a sudden shift in sentiment.
Chapter 2: Future of Health – A practitioner perspective
27 March 2018
The trends reshaping health and the future implications for the Australian marketplace.
Australian Markets Weekly: 26 March 2018
27 March 2018
Breaking down RBA research on wages.
Markets Today: Erase/Rewind
27 March 2018
Equity markets bounce back. The trade war was yesterday’s news. On #TheMorningCall Phil Dobbie talks to @NAB’s Tapas Strickland about the sharp turn around in risk sentiment.
The Stella Prize: 2018 shortlist announced
26 March 2018
In a year in which women have united around the world to speak out in favour of women’s rights and equality, NAB is proud to again support the Stella Prize, celebrating female authors and recognising excellence achieved by women in literature.
Changing the world, one investment at a time
26 March 2018
Think charitable giving is the only way to make a valuable difference? Think again. You can now use your investments to help effect social and environmental change, with increasing opportunities to back projects that promise to address our world’s most pressing issues.
Markets Today: Wrecking Ball
26 March 2018
Markets took a hit on Friday - what caused it and will it continue today? Phil Dobbie asks NAB's Ray Attrill if its trade wars, spending, staff changes or old fashioned over-valuation?
Markets Today: 23 March 2018
23 March 2018
Phil Dobbie talks to NAB’s Rodrigo Catril and asks, is this the start of a trade war good and proper?
Taking dermatology out of town
22 March 2018
Online dermatology consults for rural Australians… how a ground-breaking new Teledermatologist platform is delivering specialist care to rural and remote patients.
Markets Today: 22 March 2018
22 March 2018
It will be no surprise that the Fed has lifted interest rates this morning. Perhaps the tone was more hawkish than expected in Jay Powell’s first meeting as Fed chair.
NAB Monthly Cashless Retail Sales Index February 2018
21 March 2018
The NAB Cashless Retail Sales Index continued to improve into February, a welcome trend after the weak sales experienced at the end of 2018.
HG Sports Turf: from Aussie backyard turf to world-class stadiums
21 March 2018
Brothers Hamish and Gavin dreamed of taking their Aussie backyard turf company big and supplying world-class stadiums. Today they’re internationally recognised suppliers in their field.
Markets Today: We used to be friends
21 March 2018
The share markets rebounded today. NAB’s Tapas Strickland says it’s a positive sign that the reaction was contagion from tech stocks rather than anything more lasting.
Debt market outlook suggests old school may finally be back in vogue
20 March 2018
NAB’s general manager, capital markets and advisory, Jacqui Fox, and head of debt syndicate, Mark Abrahams, highlight the key themes for Australian credit in 2018 and why they point to a positive fundamental story despite the resurgence in equity market volatility early this year.
Markets Today: It ain’t over til it’s over
20 March 2018
The UK and the EU have seemingly reached a transition deal that changes very little till the end of December 2020, when Britain goes it alone.
Australian Markets Weekly: 19 March 2018
19 March 2018
Alternative measures of labour market tightness.
Crowdfunding: a brave new world of investing
19 March 2018
Buying into start-ups has long been the holy grail of forward-thinking investors. Equity crowdfunding opportunities are finally opening the doors.
Markets Today: Slip Slidin’ Away
19 March 2018
USD slightly extends Thursday’s gains, AUD makes new YTD low of 0.7710, -1.1% on the day.
The Forward View – Global: March 2018
15 March 2018
Sabre rattling ahead of a potential trade war?
The Forward View – Australia: March 2018
15 March 2018
Gradually improving profile intact, despite a weak 2017
Markets Today: Breathe
15 March 2018
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.
Chapter 1: The Future of Health – A Consumer Perspective
14 March 2018
The trends reshaping health and the future implications for the Australian marketplace.
Markets Today: 14 March 2018
14 March 2018
Phil Dobbie talks to NAB’s Rodrigo Cattril about the market impact of a President following a “my way or the highway” agenda.
AUD/EUR Forecast
13 March 2018
AUD/EUR continues to approach its two-year lows.
AUD/GBP Forecast
13 March 2018
NAB’s positive view of GBP and forecast decline in AUD/GBP is in the immediate term.
AUD Annotated Chart: February 2018
13 March 2018
In February the AUD/USD gave back all of its January gains and some more. February was a month characterised by an increase in market volatility, particularly in equities amid US inflationary concerns alongside a rise in US bond yields and their implicit valuation concerns for physical and risk assets.
2018 Corporate Bond Outlook
13 March 2018
Clare Lewis, NAB Director Corporate Debt Markets Origination talks about the outlook for the corporate bond market in 2018.
Markets Today: Should I stay or should I go
13 March 2018
The markets are waiting for today’s CPI figures from the US.
Building the market: How NAB developed Australia’s first green mortgage-backed bond
9 March 2018
NAB has debuted several innovative green and social bonds in recent years. In this article we go behind the scenes to find out how a new, green investment product reaches the market.
“Nothing I’d rather spend my life doing” Colin Campbell shares his ‘why’
9 March 2018
Fourth-generation Australian winemaker Colin has spent 50 years among the vines and says there’s no place on earth he’d rather be.
Fashion AND function. Shoe designer Caroline McCulloch shares her why
9 March 2018
Watching women’s disappointment when she prescribed therapeutic shoes for their problematic ankles and feet inspired Brisbane podiatrist Caroline McCulloch to create a range of footwear that’s as stylish as it is comfortable.
Passion for patients: North Parramatta Physiotherapy & Sports Injuries founder shares her ‘why’
9 March 2018
Seeing the benefits her care provides for patients has been the driving force behind 30 years in private practice for North Parramatta Physiotherapy & Sports Injuries principal, Mary Knapman.
NAB Australian Wellbeing Report: Q4 2017
9 March 2018
New research challenges old adage – can money buy happiness?
Markets Today: On the Wings of a Dove
9 March 2018
On #TheMorningCall Phil Dobbie asks @NAB’s Ray Attrill if we could be a favoured state that avoids steel tariffs.
Markets Today: 8 March 2018
8 March 2018
Who keeps some balance on trade now Cohn has quit? Phil Dobbie talks to @NAB’s Rodrigo Catril about the volatility around President Trump’s growing tariff talk
Australian Economic Update: Q4 GDP 2017
7 March 2018
Australia recorded subdued economic growth in Q4, with the detail painting a mixed picture.
Markets Today: Bigmouth strikes again
7 March 2018
Australian GDP, Lowe speaks as does Fed’s Brainard. ADP and Bank of Canada tonight.
NAB Rural Commodities Wrap March 2018
6 March 2018
The NAB Rural Commodities Index gained 1.2% month on month in February, following a drop of 1.8% in January. On a year on year basis, the index was down 2.9% in February. The gain was driven by higher grain, fruit and dairy prices, offsetting falls in beef, lamb and sugar.
Sustainable business changes the face of remote communities
6 March 2018
The award-winning Arnhem Land Progress Aboriginal Corporation has created jobs in some of Australia’s most isolated communities. CEO Alastair King explains how ALPA is creating the jobs that are key to building successful communities in remote locations.
Australian Markets Weekly: 5 March 2018
6 March 2018
Trade wars and trade imbalances: early thoughts
Markets Today: I won’t back down
6 March 2018
Equity markets are back in the black this morning with Treasury yields modestly higher amid further focus on Trump tariffs, with an attempted push back from two key GoP members, but an undaunted Trump.
Markets Today: We are the champions
5 March 2018
The markets continued to react to President Trump’s stance on steel tariffs, with his resolve seemingly increasing over the weekend.
Markets Today: Superman
2 March 2018
Lots of numbers out overnight but it’s politics driving the markets right now, with President Trump saying he will sign the order next week to impose tariffs on steel imports.
Markets Today: 1 March 2018
1 March 2018
A Brexit breakdown pummels the pound – on #TheMorningCall Phil Dobbie asks @NAB’s Ray Attrill if we can expect the pound to fall further as the UK & EU draw lines in the sand.
Australian Markets Weekly: 23 February 2018
28 February 2018
How fast is WA recovering?
Markets Today: 28 February 2018
28 February 2018
Phil Dobbie talks to NAB’s David de Garis about the market reaction, which includes falling equities and rising bond yields.
Markets Today: 27 February 2018
27 February 2018
The markets didn’t react positively to the UK opposition leader’s Brexit speech – infact, they hardly reacted at all. Phil Dobbie asks NAB’s Tapas Strickland in London about the latest chapter in the saga.
Markets Today: 26 February 2018
26 February 2018
Phil Dobbie asks NAB’s Ray Attrill what impact the news could have on the markets this week, after a rally on equities at the end of last week.
Markets Today: Reverse psychology
23 February 2018
AUD back up to 0.7840/45.
Markets Today: That don’t impress me much
22 February 2018
Today’s Podcast Phil Dobbie asks NAB’s Gavin Friend whether they could lift bond yields, particularly given low interest in this week’s big auctions from the Treasury. Gavin also explains why the UK’s jobless figures are not as bad as they seem, how Brexit talks are reaching the pointy end, and what will be the consequences […]
NAB Monthly Cashless Retail Sales Index January 2018
21 February 2018
The NAB Cashless Retail Sales Index shows improvement in January following a weak December.
Chatbots: plugging the gaps in healthcare and banking
21 February 2018
Chatbots are ready to answer questions 24 hours a day – a big plus when you’re talking health or finances. Dana Bradford, senior research scientist at CSIRO, and NAB’s head of innovation Jonathan Davey discuss how conversations with machines could make life easier.
Markets Today: 21 February 2018
21 February 2018
Phil Dobbie talks to NAB’s Tapas Strickland about what he was trying to say. Plus, the response to US Treasury auctions, what to expect from the Fed minutes, the latest expectation on Aussie rate rises and what’s the story with oil?
Moses & Son: Determined to recharge Australia’s wool industry
21 February 2018
The grandeur of Australia’s wool industry is visible in the huge old wool stores standing tall all over our cities. Moses & Son’s Martin Moses wants Australian wool to rise again – and says the next generation of sheep farmers has the power to take on the world.
Minerals & Energy Outlook: February 2018
20 February 2018
Stability in financial markets over 2017 and early 2018 came to abrupt end in recent weeks, with a surge in market volatility and big falls in equity markets and prices for many commodities.
The healthcare conversation we have to have
20 February 2018
Rising demand, shrinking resources, vulnerable clients – we can’t keep ignoring the challenging business of healthcare for the elderly.
Australian Markets Weekly: 19 February 2018
20 February 2018
Wages key to inflation and monetary policy.
Markets Today: 20 February 2018
20 February 2018
The US Treasury plans to issue $151 billion in bonds today, $258 billion across the week.
Five reasons why investors love US Private Placements (US PP)
19 February 2018
Fresh from the annual Private Placement Industry Forum in Miami, we consider the options for investors looking to add a rock-solid asset to their portfolio.
Six of the world’s best driving experiences
19 February 2018
From the wilds of Namibia to the super-speeds of German autobahns, we look at six unforgettable driving experiences – where everything’s organised for you.
Vinegar brings sweet success for regional entrepreneur
19 February 2018
Five years since switching from winemaking to vinegar-making, Ian Henderson has gone from being a one-man start-up to opening a multimillion-dollar world class facility to keep up with international demand.
Markets Today: Meddle
19 February 2018
US stocks retreat on Russia meddling, steel/aluminium tariff reports, but still make it ‘6 from 6’ up days.
The renaissance of the listed investment company
16 February 2018
Listed Investment Companies evolve and thrive in 2017.
Markets Today: Who let the dogs out
16 February 2018
USD is set to close lower for a 4th consecutive day and US equities look set to climb for a fifth day in a row
NAB SME Business Survey: December Quarter 2017
15 February 2018
Strong improvement in SME business conditions in Q4 2017, while confidence retreated a touch.
The Forward View – Global: February 2018
15 February 2018
Global upturn to continue despite market turbulence.
Markets Today: Still breathing
15 February 2018
There was a sharp reaction to higher than expected CPI figures overnight but they have been tempered by weaker than expected retail figures.
India Monetary Policy: February 2018
14 February 2018
The RBI held the benchmark Repo rate at 6% at its February meeting. This decision was in line with expectations.
The Forward View – Australia: February 2018
14 February 2018
Cautious optimism, but much depends on wages and the consumer.
Markets Today: Love Resurrection
14 February 2018
The US dollar is on the slide again. As Phil Dobbie discusses with NAB’s Ray Attrill the volatility remains ahead of US CPI figures tonight.
Happy campers: how holiday memories sparked ‘Airbnb for caravans’
14 February 2018
Fond childhood memories combined with a holiday hitch inspired Justin Hales to create Camplify, the fast-growing caravan-sharing startup proving a winner in Australia and now taking on the UK.
NAB Monthly Business Survey: January 2018
13 February 2018
Elevated business conditions & confidence point to a robust business sector in Australia at present.
Australian Markets Weekly: 12 February 2018
13 February 2018
Stocks, bonds & Australia – still optimistic growth!
Markets Today: Crumblin’ down
13 February 2018
US equities extend Friday’s rally and Europe joins the party.
NAB Rural Commodities Wrap: February 2018
12 February 2018
2018 has seen a fairly mixed start to the year, with significant differences between regions and industries.
AUD forecast revisions; still seen lower in 2018, volatility higher
12 February 2018
In understanding the drivers of the rise in AUD/USD from 0.75 in early December to above 0.81 in January, higher commodity prices have justified much of the move.
Markets Today: Turbulence
12 February 2018
Friday was another choppy day for equity markets, although the S&P500 managed to end on a positive note.
Gympie export legends Nolan Meats now setting sights on Asia
9 February 2018
With a 60-year domestic and international success story already behind them, it comes as no surprise that family-run Nolan Meats has very definite ideas about how to launch a successful push into the Asia Pacific region.
Markets Today: 9 February 2018
9 February 2018
Stocks fell across Europe and the US overnight.
NAB Quarterly Business Survey: December Quarter 2017
8 February 2018
The quarterly NAB Business Survey gives a more in-depth probe into the conditions facing Australian business than the monthly survey, and also provides extra information about how firms perceive the outlook for their respective industries.
Fifty years of business wisdom distilled into seven truths
8 February 2018
After half a century in business, Geoff Slade has learnt a thing or two. Here he shares seven truths about what it takes to make it in the business world.
Markets Today: Dog days are over
8 February 2018
Well it might be too early to call the recent rout in equity markets over, but price action over the past 24hrs suggests calmness has returned with European equities rebounding while US equities are relatively steady.
NAB Quarterly Consumer Behaviour Survey: Q4 2017
7 February 2018
NAB’s Consumer Anxiety Index* was basically unchanged in Q4 2017 at near survey lows with job security causing Australians the least stress, consistent with a strongly improving labour market.
Markets Today: Helter Skelter
7 February 2018
To some, The Beatles’ Helter Skelter planted the inspirational seeds for heavy metal.
In Israel with OurCrowd: notes from a high-tech investment hotbed
6 February 2018
Observations from the OurCrowd Summit – how crowdfunding is creating opportunities for high-tech entrepreneurs and investors.
Aviation finance
6 February 2018
Global air traffic and demand for aircraft stays strong in 2017.
Markets Today: Low
6 February 2018
It’s been another night for selling stocks, Europe taking up where the US and Asia left off (the Eurostoxx 600 was down 1.56%) and this set the tone for the US market.
Australian Markets Weekly: 5 February 2018
6 February 2018
RBA growth and inflation outlook still on course.
NAB Online Retail Sales Index, Quarterly Update: December 2017
5 February 2018
In seasonally adjusted terms, at -2.2%, online retail sales contracted in December, the largest since November 2014. Looking through the month to month volatility, while the trend is still positive, it has again slowed.
Markets Today: Devil inside
5 February 2018
The jump in US annual average hourly earnings in January, to 2.9% from an upwards revised 2.7% in December, stole the limelight on Friday albeit there were a number of extenuating circumstances suggesting the number shouldn’t be taken completely at face value.
AUD/USD Annotated Chart: January 2018
5 February 2018
The AUD/USD started 2018 in the same manner it ended 2017. The currency strengthened in January, trading in a 3.4 cents range during the month and ending at 0.8055.
NAB Quarterly Australian Residential Property Survey Q4 2017
2 February 2018
Sentiment towards Australian housing market positive in Q4, but confidence wanes. NAB’s view for 2018 largely unchanged, but degree of moderation ramped up.
Markets Today: Blowin in the wind
2 February 2018
The USD has resumes its downtrend with Euro strength the main culprit and with USD indices trading sub key support levels the big question is how long will the Dollar fall, if only Bob Dylan new the answer.
Markets Today: Moving on up (gradually)
1 February 2018
Yesterday’s State of the Union address from the President came and went without any great fanfare as far as market impact was concern.
Helping to finance the hospitals of the future
31 January 2018
As the cost of healthcare continues to rise, state and federal government budgets are facing a growing challenge of balancing the competing needs of health-care expenditure with other areas of spending such as schools and roads.
US Economic Update: Q4 GDP 2017
31 January 2018
US GDP grew solidly for the third consecutive quarter to end 2017.
Markets Today: 31 January 2018
31 January 2018
US stocks are weaker for a second day running, the S&P down a little 1% heading into the close, and the VIX is up to 15 from 11 at the end of last week.
NAB Monthly Business Survey: December 2017
30 January 2018
Confidence lifted to narrow the divide with business conditions, indicating a strong business sector in Australia at present.
Markets Today: The only way is up
30 January 2018
UST yields have led the sell-off in core global bond yields and for a change the USD has responded to the UST led rise in yields and outperforms across the board.
European Energy Sector: Spearheading the transition
29 January 2018
The transformation to a low-carbon economy is gathering pace.
Australian Markets Weekly: 29 January 2018
29 January 2018
What does Canada tell us about the RBA?
Markets Today: Hot, hot, hot
29 January 2018
The dollar remains the hot topic, just as the weather has been in SE Australia with a slice of this summer’s heatwave coming through with a vengeance, not to mention Roger Federer’s fifth and winning set to reach 20 Grand Slam wins at the Australian Open.
Lively Linseed knocks down ‘brick walls’ for Asian export success
25 January 2018
After two years of dead-end phone calls to Asian supermarkets, Lively Linseed’s Jacqui and Chris Donoghue overcame the challenges to find direct-export success.
The race is on: why Australia can lead in health innovation
25 January 2018
The race is on to cut costs and save lives. As a nation, we have an impressive history of healthcare innovation – but what of the future? And what’s our place in the race to find new, cost-effective ways to diagnose, treat and prevent illness?
Markets Today: Roll over lay down
25 January 2018
Speaking from Davos early in the London session, US Treasury Secretary Steven Mnuchin set the tone for the session saying “obviously a weaker USD is good for us as it relates to trade and opportunities.”
NAB Monthly Cashless Retail Sales Index: December 2017
24 January 2018
The NAB Cashless Retail Sales Index shows a slowdown in December following a strong November.
Spotlight on North America
24 January 2018
The US Debt Capital Markets provided options for issuers.
Markets Today: By the time I get to Davos
24 January 2018
Big dollar subsides again overnight after attempted rally yesterday.
In Focus: Dairy – Quarter 1 2018
23 January 2018
Dairy prices have trended downwards overall since mid last year, and although 2018 has brought some relief in USD terms, the higher AUD has eroded these gains.
Markets Today: Everything is Awesome
23 January 2018
A full Senate vote to ratify the deal struck a few hours ago to re-open the US government is scheduled for 4:30pm Washington time (8:30am AEDT).
Australian Markets Weekly: 22 January 2018
23 January 2018
Employment good news to start 2018.
Continued synchronised growth in 2018: last of the summer wine for investors?
22 January 2018
2017 saw all 45 OECD countries and the major emerging economies in synchronised growth for the first time in 10 years. JBWere examines the impact ‘synchronised growth’ has on markets and what’s in store for investors in 2018.
Markets Today: Closedown
22 January 2018
The US Senate on Friday failed to muster the 60 votes necessary to pass a stop-gap funding measure that would have averted the partial government shutdown that instead went into effect at one minute past midnight on Friday.
NAB securitisation, the ‘go to’ house for Australian RMBS and ABS
19 January 2018
NAB’s Securitisation team goes from strength to strength, being the clear house of choice for customers and thought leader in the market.
The Australian credit market
19 January 2018
2017 has been the best year for both issuers and investors since 2006.
Markets Today: 19 January 2018
19 January 2018
Focus is currently on Washington where a US government shutdown deadline looms this weekend unless a stopgap funding bill is agreed.
Why peace equals profits
18 January 2018
Steve Killelea, the man behind the Global Peace Index, explains its potential value in helping make investment decisions.
Markets Today: Hold On
18 January 2018
The Bank of Canada delivered on an almost universal expectation for a 25-point rate hike last night.
Reg S bond market: The rise of Asia’s own dollar bond market
18 January 2018
The growth of the Reg S bond market has been one of the defining trends of the Asian capital markets in recent years. Driven by the seemingly unstoppable rise of Asian wealth – especially deep-pocketed Chinese investors – US dollar bond sales in the region no longer depend on the participation of US institutions.
Markets Today: You can’t keep a good man down
17 January 2018
Mixed performance from FX, with EUR/USD recovering from earlier falls but commodity currencies taking a minor hit from a mini-USD revival and easing in commodity prices.
State of origin: how passion for transparency drove coffee business duo
17 January 2018
Fleur Studd and Jason Scheltus saw a gap in the Melbourne coffee market for a quality speciality coffee product that could be traced back to its producers.
2017 Year in Review: Corporate Finance
16 January 2018
2017 was marked by a return to stability following the volatility of recent times and the rise of innovative new products, especially in the green and social sectors.
Webinar: Tips for borrowing to invest successfully
16 January 2018
We’re living longer and our kids are experiencing the challenges of establishing themselves in a world of higher house-to-wage ratios. Our over-leveraged governments have responded by cutting back on spending in health, education and social services as well as super tax breaks that encourage us to save. The upshot is, we have to rely on ourselves for a comfortable long-term future.
Japan: a trustworthy and valuable trading partner
16 January 2018
Japan is arguably Australia’s most important Asian ally, and its large market of wealthy consumers is a natural target for Australian businesses selling high-quality goods and services. Here are some tips to help you establish successful business relationships.
League brings extraordinary women together to build businesses
16 January 2018
In 2009, Sheryl Thai had just started a business and was like any other fledgling entrepreneur: hard-working, idealistic, passionate. Yet she felt alone. What she did next became the basis of a movement that’s helped thousands of women across Australia find their business voice: the League of Extraordinary Women.
Markets Today: Zombie
16 January 2018
Zombie was one of the Cranberries’ biggest hits and though written about what O’Riordan described as the seemingly interminable fight for Irish independence, it’s a fitting description of the US dollar, which more and more resembles a dead man walking.
Markets Today: Where Is The Love?
15 January 2018
Friday was a case of another day, another US dollar slide (plus new record closing highs for both the S&P500 and NASDAQ, but that almost goes without saying these days).
AUD/USD Annotated Chart: December 2017
12 January 2018
The AUD/USD started December on a positive note boosted by USD weakness amid tax reform uncertainty and news reports speculating on Russia’s intervention in US politics.
Health professionals, are you making the most of your accountant?
12 January 2018
Could you get more value from your financial services provider? If you only ever talk tax, you could be missing out. Stannards’ Marino Angelini explains changes in the health practice and accountant relationship and why wealth building, cost cutting and asset protection should all be part of the service.
Business trends and innovation: what 2018 has in store
12 January 2018
What will the new year bring in the world of business trends? Whether it’s health or agriculture, hyper local advertising or self-trained artificial intelligence, NAB has one eye on the (crystal) ball.
NAB Online Retail Sales Index – November 2017
10 January 2018
NAB Online Retail Sales Index (NORSI) accelerated strongly in November(+4.7% mom s.a.).
Markets Today: 10 January 2018
10 January 2018
Oil prices trade to a new three year high and excluding JPY, the USD is stronger across the board. Meanwhile, US equities have made new highs, yet again! and all major European indices closed in positive territory.
Nuance the watchword for Australian-market renaissance
8 January 2018
In a wide-ranging state-of-the-market perspective, Steve Lambert, Executive General Manager, Corporate Finance at NAB, attributes Australian transaction breakthroughs in 2017 to long-term positive trends on the demand side.
AUD/USD since float: Number of days in each 5 cent bucket
8 January 2018
We’ve analysed where the Aussie dollar has spent most of its time since it was floated in 1983 and the results may surprise you.
Markets Today: 8 January 2018
8 January 2018
A mixed US labour report and softish ISM non-manufacturing print had minimal impact on the USD and US Treasury yields while global equities have continued on their merry way higher amid a supportive global economic backdrop.
Base Metals Market – 2017 in Review and 2018 Outlook
21 December 2017
2017 Surprised on the upside. Small deficit expected in 2018.
Markets Today: How Big How Blue How Beautiful
21 December 2017
Before I went to bed last night, the working title for today’s edition was Queen’s ‘Another one Bites The Dust’.
NAB Monthly Cashless Retail Sales Index November 2017
20 December 2017
The NAB Cashless Retail Sales Index shows strong growth in the month of November (1.6% mom).
Markets Today: Waiting for a bill like you
20 December 2017
As we go to print this morning, the US House has passed the US tax reform bill.
Australian Markets Weekly: 18 December 2017
19 December 2017
Population growth remains very strong – QLD strengthening.
Markets Today: Vote-A-Rama
19 December 2017
US equities have started the week on a solid footing boosted by the prospect of US tax reform becoming law later in the week.
NAB Australian Wellbeing Report: Q3 2017
18 December 2017
Aussies’ wellbeing at its highest since 2013, but high anxiety still impacting one in four
Markets Today: All I Want(ed) For Christmas
18 December 2017
Stocks, the US dollar and Treasury yields all rose in afternoon NY trade Friday, seemingly in anticipation of Congressional tax writers announcing a reconciled tax plan capable of being voted on by both Houses this week.
Australia’s future’s looking bright
15 December 2017
While there was plenty of concern about potential geopolitical and economic crises at the recent ASFA conference, at least one senior industry figure was upbeat.
Markets Today: Ramblin’ Gamblin’ Man
15 December 2017
US equities retained the negative tone seen during the European session and have been unable to trade in positive territory amid concerns over the prospects for US tax reform.
US Economic Update – December 2017
14 December 2017
2017 has proved to be another year of solid US economic growth and more of the same is expected in 2018, helped along by fiscal stimulus.
The Forward View – Global: December 2017
14 December 2017
A good year for the world economy as growth rises above trend.
Markets Today: She’s leaving home
14 December 2017
Markets overnight initially took the lead from a lower than expected print on US core CPI for November, missing the 0.2%/1.8% consensus by a tenth, at 0.1%/1.7%. Stocks rallied, the dollar faded as did Treasury yields.
NAB creates a new way to invest in renewable energy
14 December 2017
*Launch of world-first low carbon shared portfolio backing renewable energy*.
The Forward View – Australia: December 2017
13 December 2017
The year in review and the year ahead.
India GDP and Monetary Policy: December 2017
13 December 2017
The Indian economy accelerated in the September quarter, recording a 6.3% yoy expansion.
Development and diversity: US$ Reg S comes of age in Asia Pacific: video
13 December 2017
The regional US$ Reg S bond market has become one of the fastest growing debt capital markets worldwide.
Markets Today: The Letter
13 December 2017
Amid light trading US equities are a little bit higher (NASDAQ is flat) and European equities closed in positive territory.
NAB Monthly Business Survey: November 2017
12 December 2017
Last month’s surprise spike in business conditions was more than unwound in November, although that was partly expected.
What customers rate in professional services providers: NAB Professional Services Awards 2017 winners announced
12 December 2017
The inaugural NAB Professional Services Awards winners were announced on December 12. The awards celebrate the small and mid-sized professional service firms that consistently add value to Australian businesses.
Australian Markets Weekly: 11 December 2017
12 December 2017
Two weeks ago, we wrote on the outlook for the AUD from our Head of FX Strategy, Ray Attrill highlighting the expected move of the AUD/USD into the US$0.70-0.75 cent range.
Markets Today: She speeds
12 December 2017
It’s been a night marked by a suicide bomb explosion in Times Square, an event that thankfully inflicted very contained damage to individuals and even less to market stability.
NAB Monthly Business Survey: November 2017
11 December 2017
Last month’s surprise spike in business conditions was more than unwound in November, although that was partly expected.
How hipages got out of the back room and into the big league
11 December 2017
Passion, persistence and cash flow… hipages co-founder David Vitek shares his formula for turning a shoestring start-up into a profitable business.
All agri brands have place in consumer’s diet: Jim Barry Wines
11 December 2017
Jim Barry Wines says there’s no need for Aussie agri brands to compete against each other – all have a place in a modern consumer’s diet.
NAB champions community-led approach to social infrastructure
11 December 2017
Reduced government funding and a growing population are forcing local councils to find alternative funding for public assets and community projects. NAB has already started filling the gap, with new mechanisms opening up funding sources usually closed to small lenders.
Australian Economic Update: Q3 GDP 2017
11 December 2017
Business and government led growth
Markets Today: The beat goes on
11 December 2017
If it wasn’t for Friday’s US labour market data, Lionel Richie’s “All night long” would have been a great option for a title today, highlighting PM May’s sleepless effort to strike a deal about a deal with the EU.
On the right path to meet the Asian opportunity
8 December 2017
As Australia moves beyond the mining boom, we need to secure new sources of growth to ensure our future prosperity.
Markets Today: The Waiting
8 December 2017
Tom Petty described The Waiting as a song about waiting for your dreams and not knowing if they will come true.
Markets Today: The caution and the damage done
7 December 2017
After the AUD rollercoaster of the past two days, there’s been some follow-on selling of the AUD overnight.
Markets Today: Show me the money!
6 December 2017
The USD is stronger against most currencies and the AUD has given back all of yesterday’s gains amid overnight softness in metal prices.
Work and play: how to make a difference when you travel
5 December 2017
Where in the world – and at home – can you blend some spectacular travel destinations with the satisfaction of giving back? Here are a few ideas for a ‘voluntourism’ adventure.
Expanding understanding through wider and deeper data capture
5 December 2017
Australia’s GDP continues to grow in spite of subdued wages growth and consumer spending. Gaining a greater understanding of how these contradictory trends break down across regional and metropolitan areas, as well as consumer spending categories, is behind NAB’s expansion of its Consumer Spending and Cashless Retail analyses.
Australian Markets Weekly: 4 December 2017
4 December 2017
Way out West: mining and exploring again.
South Korea: Perspectives, trends and insights
4 December 2017
This independent report for National Australia Bank (NAB) by the Crawford School of Public Policy at The Australian National University, examines the outlook for the South Korean economy and its growing importance in the Asia Pacific region.
NAB Online Retail Sales Index – October 2017
4 December 2017
NAB Online Retail Sales Index (NORSI) rebounded in October(+1.5% mom s.a.) from a contraction in September (-0.5%).
Markets Today: Russian Roulette
4 December 2017
My colleague and Markets Today co-conspirator Tapas Strickland has to date had a monopoly on Rhianna songs, but since he’s just arrived at NAB in London to spend time gaining international experience, I figure the Barbadian songstress catalogue is now fair game for use by the rest of us (not that there are many of her songs left to choose from).
NAB Customer Spending Behaviours: Q3 2017
1 December 2017
Spending growth slows but “experiences” continue to out-perform.
AUD/USD Annotated Chart: November 2017
1 December 2017
The month that was for the AUD. The key events in November 2017 that impacted the AUD/USD.
Australia GDP Preview: Q3 2017
1 December 2017
The economy is likely to have grown at a solid clip in Q3. While some pieces of the growth puzzle are falling into place, the stark divergence between business and consumer spending remains despite jobs growth. Non-mining and infrastructure investment will be encouraging for the RBA, but higher wages growth is required.
Markets Today: Summertime
1 December 2017
Summer has begun in Australia today, it’s Friday and we have had a risk positive night.
Markets Today: It’s all good (very good)
30 November 2017
Nothing like starting the day with some good old Australian hip hop. Funkroar 2011 hit “it’s all good (very good)” nicely captures the key upbeat message from Fed Chair Yellen appearance before Congress alongside the better than expected US and EU economic data.
Natural Gas and LNG Market Outlook: November 2017
29 November 2017
The connection of Eastern Australia to global LNG markets has seen domestic prices face a wild year.
Talking infrastructure
29 November 2017
Mike Baird, NAB’s Chief Customer Officer-Corporate and Institutional Banking talks to the opportunities the infrastructure market offers and how our clients can benefit from Australia’s infrastructure investment.
Portfolio construction tips
29 November 2017
Chris Black, a portfolio manager from Alexander Funds Management shares his insights on portfolio construction and what tips non institutional investors should and should not mimic from institutional investor portfolios.
Markets Today: Same Love
29 November 2017
It has been a pretty busy night with Fed Chair in waiting Powell appearance before a Senate committee, mixed US data releases, confirmation of UK-EU Brexit bill (after some confusion), North Korea launching a ballistic missile and lastly the US Senate Budget Committee has just announced a tax bill has been sent to the Senate for voting.
Ethical investing
28 November 2017
Tom Wirth, NAB’s GM of Balance Sheet Strategy shares his insights for Ethical investing and what role it can play in a portfolio.
Markets Today: Who Are You?
28 November 2017
A relatively quiet start to the week following a relatively quiet holiday-impacted end to the last one.
Markets Today: Risky Business
27 November 2017
Tangerine Dream, the German electronic music group, provided the soundtrack for Risky Business, the 1983 Romantic Comedy starring Tom Cruise and Rebecca de Mornay. The group have produced over 100 albums since forming in 1967.
Amazon – raising the retail bar Down Under?
24 November 2017
A shopfront to the world: how Amazon’s arrival could spell opportunity for Australian retailers.
Markets Today: Strong
24 November 2017
We wrote yesterday how the USD had been sold lower on the back of the cautious Yellen comments.
From struggling single dad to supplement success story
23 November 2017
How an unemployed single father turned his life from anxiety to a $6 million success story.
Australian Markets Weekly: 20 November 2017
23 November 2017
Medley: labour market, state GSP, housing, and Amazon.
Markets Today: Slip slidin’ away
23 November 2017
The UK Budget was handed down overnight and UK growth estimates have been marked down from low productivity.
NAB Monthly Cashless Retail Sales Index: October 2017
22 November 2017
NAB’s proprietary indicator of Australian retail sales reveals a continuation of very slow growth in recent months.
Markets Today: Get Back Up
22 November 2017
A rather uninspired song title (from a band whose name might not make it through the filters) from your somewhat sleep-deprived scribe (Lorde concert at the Opera House on a school-night, and at my age).
In Focus: Beef – November 2017
21 November 2017
The Australian beef cattle industry has enjoyed a great run over the past couple of years, with the Eastern Young Cattle Indicator (EYCI) hitting a record over 720c/kg in September last year.
Digital overload? Aussies look for country air, wine and rock music
21 November 2017
Hope Estate’s Michael Hope says there’s a new leisure market generated by stressed city folk looking for authentic experiences to enliven the senses – and Hope Estate is taking centre stage.
AUD/USD Annotated Chart: October 2017
21 November 2017
The month that was for the AUD. The key events in October 2017 that impacted the AUD/USD.
NAB AUD Corporate FX update: November 2017
21 November 2017
The key drivers behind NAB’s AUD/USD and AUD cross-rate forecasts
Markets Today: She is leaving home
21 November 2017
The overnight session saw an improvement in risk sentiment with European equities closing in positive territory while US equities are also having a good day so far.
Building a national consensus: why customer stewardship matters in infrastructure
20 November 2017
This fourth in a series of Policy Outlook papers, by The Better Infrastructure Initiative and The University of Sydney’s John Grill Centre for Project Leadership, addresses the pressing issue of how to create customer-led infrastructure and the long term benefits it brings to stakeholders.
It’s back to business in securitisation
20 November 2017
Securitisation has been one of the compelling stories in the Australian market in 2017. Issuers are keen, investors are willing and there’s abundant appetite for new and exciting assets and structures.
Markets Today: Shot down in flames (and R.I.P)
20 November 2017
Two song titles in deference to the untimely death of AC/DC founding member Malcom Young at the weekend at just 64.
The Forward View – Global: November 2017
16 November 2017
Advanced economies to drive lift to above trend global growth.
From desert sands to Arctic ice: five unforgettable Christmas breaks
16 November 2017
From a Bedouin tent to a hotel made from ice – these unusual getaways promise a Christmas to remember.
The Forward View – Australia: November 2017
15 November 2017
Watching the labour market and wages.
Why Millennials are so good for business
15 November 2017
The faster businesses can adapt to this generation and use their skills, the better.
Essential Asia: Selective optimism
15 November 2017
Our 2018 forecasts for Asian currencies reflect the view of reduced impact of Fed’s policy normalisation and more confidence about Asia’s external sector performance and overall growth prospects along a global economic recovery.
Markets Today: Talking Heads
15 November 2017
Caution remains the main theme in markets with equities softer on both sides of the Atlantic weighed down by the energy and materials sectors amid softer oil and metal prices.
From a standing start: How an education entrepreneur built a school
15 November 2017
Dr Lyn Bishop fought battles on all fronts to establish Sheldon College. Her entrepreneurial approach to education created a successful independent school in just 20 years, and here she details the challenges and obstacles she overcame along the way.
Small town, big potential: City folks’ tree change
14 November 2017
Moving to a regional town might seem a career-limiting step but for entrepreneurial Australians with an eye for untapped market opportunities the opposite can apply. Business View meets two former city-slickers achieving success in country Australia.
NAB Monthly Business Survey: October 2017
14 November 2017
Business conditions hit an all new high in October.
Markets Today: Talk of the Town
14 November 2017
Frankfurt is the town and the great and the good of the global central banking fraternity will be the doing the talking later today at an ECB sponsored conference on central bank communication.
Wages: A Tale of Two Countries – November 2017
13 November 2017
Explaining subdued US and Australian wages growth.
Markets Today: Bits and Pieces
13 November 2017
A somewhat bitty, non-descript market offshore on Friday with asset markets not all marching to the same tune.
Markets Today: Rumour Mill
10 November 2017
Equity markets hit a jittery patch overnight with selling seen across Europe and the US.
Minerals and Energy Outlook: November 2017
9 November 2017
There were very few consistent themes across the commodity complex this quarter.
RMB Roadmap 2018
9 November 2017
While significant progress has been made on liberalising the RMB and opening up the onshore bond and equity markets, there are other structural reforms that need to happen before the floodgates can be thrown open.
Markets Today: Motor’s too fast
9 November 2017
The RBNZ this morning has left rates on hold at 1.75% but the language has spurred some Kiwi buying.
Development and diversity: US$ Reg S comes of age in Asia Pacific
8 November 2017
Increased global liquidity, Asia’s growing wealth and the rise of the regional investor base have made the US$ Reg S market an increasingly important source of funding for Asia Pacific issuers. NAB sees US$ Reg S issuance from Australian corporates tripled from 2016 to 2017, with ample room to grow.
Markets Today: We are the world
8 November 2017
It’s been a very quiet night for markets, the DXY and BBDXY making some net gains, but more from commodity currency weakness.
Australian Markets Weekly: 6 November 2017
8 November 2017
RBA to stick with gradual inflation uplift ahead
NAB Rural Commodities Wrap: November 2017
7 November 2017
The NAB Rural Commodities Index rose 2.1% in October, its first monthly gain since May.
NAB Rural Commodities Wrap: November 2017
6 November 2017
The NAB Rural Commodities Index rose 2.1% in October, its first monthly gain since May.
Markets Today: That don’t impress me much
3 November 2017
In the last hour, President Trump has announced that Jerome Powell will be the next Chair of the Fed, as has been widely flagged in recent days. So no surprises there.
NAB Online Retail Sales Index, Quarterly Update: September 2017
2 November 2017
Online sales contract in the month, also slower over the year.
Markets Today: Jive Talkin’
2 November 2017
Jive Talking: “To speak in an exaggerated, teasing, or misleading way”. I can’t believe we haven’t used this Bee Gees classic once in the year that has almost passed since the result of a certain election.
Fund innovation for investor preference
1 November 2017
Australia’s high-yield fixed-income market has evolved from being virtually non-existent just a few years ago to now offering a reasonably consistent funding option for Australian companies.
Markets Today: Good day sunshine
1 November 2017
The news on the state of the US and European economies has been good overnight, adding more sunshine to the global growth acceleration story.
Australian Markets Weekly: 30 October 2017
31 October 2017
Inflation – what does the latest CPI tell us?
Markets Today: Lord don’t slow me down
31 October 2017
Admittedly I never heard this Oasis song before this morning and I was surprised to learn that it was a top 10 hit in 2007.
US 2017 Q3 GDP: October 2017
30 October 2017
Another strong quarter of growth.
Markets Today: Barcelona
30 October 2017
Two factors drove much of Friday’s offshore market activity. One was a Bloomberg source report suggesting that President Trump was inclined to nominate Jerome (‘Jay’) Powell to be the new Fed chair.
NAB Charitable Giving Index: August 2017
27 October 2017
Insights into the donating behaviours of Australian consumers
Markets Today: Just Can’t Get Enough
27 October 2017
To borrow from Depeche Mode, it seems markets Just Can’t Get Enough with a dovish ECB taper and increasing confidence in US tax reform seeing a rally in risk assets.
NAB Quarterly SME Business Survey: September 2017
26 October 2017
SME business conditions and confidence both improved in Q3.
Prize-winning invention could save millions of lives
26 October 2017
Vincent Garvey had no experience of dialysis – but his prize-winning invention is on track to save millions of lives.
Markets Today: Nobody’s baby
26 October 2017
After a sleepy start to the week markets have awakened over the past 24hrs.
Is an innovation golden age looming for Australia?
25 October 2017
Could Australia be on the cusp of a start-up boom? Economic and social shifts mean the concept may not be as far-fetched as you might think.
India Growth Puzzle: October 2017
25 October 2017
The Indian economy has slowed considerably since the first half of 2016.
Why you may want to take another look at margin loans
25 October 2017
Margin lending can offer you considerable flexibility to build your investment portfolio, just the way you want it.
Markets Today: Friday on my mind
25 October 2017
US markets right have been caught between 1) the on-going negotiations over tax between the White House and Republicans, 2) who will be the next Fed Chair (the market seems to be positioning for a Taylor-Powell duo but there’s still no news), and 3) the course of the broader economy.
Markets Today: Sweet Dreams
24 October 2017
As song titles go, Sweet Dreams by the Eurythmics probably sums up overnight price action the best.
Adaptation finance: is the investing climate about to change?
23 October 2017
It’s among the top three challenges facing us all according to the World Economic Forum – climate change adaptation. But there are challenges to financing such investments in Australia. How can we ensure critical infrastructure is resilient for a changing climate, integrating physical risk into investment practices?
Markets Today: Taylor?
23 October 2017
US bond yields ended the NY session on the day’s highs.
Australian Markets Weekly: 23 October 2017
23 October 2017
Unemployment to head lower say labour market indicators.
Markets Today: Don’t dream it’s over
20 October 2017
The biggest news overnight was the finalisation of the NZ Government. Labour’s Jacinda Arden will now be the next Prime Minister following NZ First’s deal to form a coalition government.
Tree change? The pros and cons of running a rural pharmacy
20 October 2017
What does it take to run a successful rural pharmacy? Two business owners – including the winner of this year’s Pharmacy Guild of Australia’s Pharmacy of the Year Award – discuss the challenges and rewards of working in a small town.
NAB Quarterly Business Survey: September Quarter 2017
19 October 2017
The NAB Quarterly Business Survey showed a continuation of the very upbeat conditions for firms into the September quarter.
Markets Today: Milk it
19 October 2017
Milk It is from Nirvana’s third album ‘In Utero’ and starts with the line ‘I am my own parasite, I don't need a host to live’. It references Kurt Cobain’s frustration with fame and drug addiction.
NAB Quarterly Australian Commercial Property Survey Q3 2017
18 October 2017
Overall sentiment in commercial property markets moderated for the second straight quarter, with NAB’s Commercial Property Index down 5 points to +18 in Q3, but still well above long-term average levels (+2).
NAB Monthly Cashless Retail Sales Index: September 2017
18 October 2017
NAB’s proprietary indicator of Australian retail sales, the NAB Cashless Retail Sales Index, reveals a rebound in spending in the month of September.
Markets Today: Taylor
18 October 2017
The USD has continued to eke out small gains amid ongoing speculation over Fed Chair nomination, US equities are flat (DJ briefly traded above 23k for the first time) and commodities are mixed.
WA start-up takes aim at the consumer market
17 October 2017
Turning IP into profitable products: WA start-up Wangle Technologies has the lucrative network security market in its sights.
Australian Markets Weekly: 16 October 2017
17 October 2017
Consumption has held despite consumer worries.
Markets Today: I’m waiting for the man
17 October 2017
It has been a quiet start to the week in the Northern Hemisphere, but of note the USD is slightly stronger across the board and commodities also had a good night.
NAB Rural Commodities Wrap: October 2017
17 October 2017
The index tracks 28 commodities weighted by the relative size of each commodity in the Australian agricultural sector.
Markets Today: Six Degrees of Separation
16 October 2017
It's now six from seven in terms of core US CPI undershooting expectations (six months at 0.1% including Friday’s September print and just one at the 0.2% consensus estimate that has prevailed for each of these seven months).
NAB Quarterly Australian Residential Property Survey Q3 2017
13 October 2017
Australian housing market sentiment lifted over the third quarter of 2017, supported mainly by a large increase in the number of property experts reporting positive rental growth in the quarter and continued house price growth in most states.
Sunny Queen sells happiness in an eggshell
13 October 2017
It’s not just nutritional benefits and old-fashioned happiness behind the Sunny Queen egg story – the company’s embrace of digital marketing includes giving an egg its very own blog. The strategy is working.
Markets Today: The long and winding road (to Brexit)
13 October 2017
It’s been an overnight session marked by generally limited moves in currencies – the Pound the exception – bond yields have been steady-to lower on net, equities down smalls with commodities mixed.
The Forward View – Global: October 2017
12 October 2017
Global growth rising toward trend pace as advanced economies lift.
Markets Today: A momentary lapse of …
12 October 2017
Pink Floyd’s first album without Roger Waters “A Momentary Lapse of Reason (Inflation?)” probably captures the key take-away from the Sep 20 FOMC Meeting Minutes.
US Economic Update: October 2017
11 October 2017
The effects of the recent major Hurricanes affecting the US are clearly evident in some of the economic data.
The Forward View – Australia: October 2017
11 October 2017
Balancing multiple objectives, as business remains strong and consumers cautious.
Markets Today: Ain’t that lonely yet
11 October 2017
It’s been a mix of events in the UK (better data), Europe (no immediate declared Catalan independence from Puigdemont) and the US (Trump tax politics and a softer NFIB report) that have provided the background for limited currency moves overnight.
Six pack: Barossa winemakers find strength in numbers
10 October 2017
Artisans of Barossa, a collaboration of six winemaker mates, was born following a business growth decision to band together under the one umbrella brand. The result has been a host of benefits for both the individual business owners and their beloved wine region.
NAB Monthly Business Survey: September 2017
10 October 2017
Business conditions are strong, but retail is still a significant concern.
China’s economy at a glance: September 2017
10 October 2017
China’s old economy surprises on the downside, may point to weaker Q3 growth.
Essential Asia: Politicking Policy
10 October 2017
North Korea, China’s Communist Party Congress and Singapore's policy rate decision are on market radar in October, along with Fed’s policy normalisation thereafter.
Australian Markets Weekly: 9 October 2017
10 October 2017
Gas supply assured but higher prices still probable.
Markets Today: Waiting on the world to change
10 October 2017
Markets were quiet overnight given the Columbus Day Holiday in the US. Equities were flat (S&P500 0.2%), the US dollar was marginally lower (DXY 0.2%), while the US bond market was closed (note futures were open but with little movement).
India Monetary Policy: October 2017
10 October 2017
Another concern for the RBI has been the jump in core inflation (inflation excluding food and fuel).
Setting sail: four stunning destinations to see by sea
9 October 2017
As the weather starts to warm, the ocean calls. We present some of the world’s most delightful destinations to set sail for – whether with the help of crew and cook, or entirely solo.
Simpler contracts for NAB business customers
9 October 2017
Over 130,000 Australian business owners will benefit from a complete overhaul of NAB’s existing business standard loan form contract.
Bulk Commodities Outlook: October 2017
9 October 2017
All eyes on China’s steel sector.
Markets Today: Beautiful Noise
9 October 2017
Neil Diamonds’ Beautiful Noise was the working title for today’s missive following the latest US payrolls s report on Friday.
Agri needs next gen leadership: Australia’s ‘Harvard for agribusiness’
9 October 2017
Australian agribusinesses are joining forces with universities to harness growing interest in agricultural careers and develop the future industry leadership needed to succeed in the global agricultural marketplace.
Markets Today: Pound the alarm
6 October 2017
After taking a breather, the USD has regained its mojo partly driven by concerns over other currencies along with a supportive domestic backdrop.
Markets Today: Fast car – no signs of hurricane damage here
5 October 2017
Despite a stellar US Non-manufacturing ISM, there were only modest market moves overnight.
NAB Online Retail Sales Index: August 2017
4 October 2017
Online sales accelerated over the year and month.
Markets Today: Waiting
4 October 2017
The challenge meted out by some of my colleagues yesterday (many of whom are probably still in bed) was to incorporate as many songs from the now late great Tom Petty into this daily missive.
Australian Markets Weekly: 2 October 2017
3 October 2017
Potpourri: inflation ponderings, people and cranes.
Markets Today: Riders on the storm
3 October 2017
There have certainly been some unsettling events over the past 24-48 hours for markets to ponder.
Markets Today: Come talk to me
2 October 2017
It was a session of two halves on Friday night.
The fruit of her labours: Manbulloo re-emerges as a major brand
2 October 2017
In just a few years, Marie Piccone has revived the fortunes of three mango plantations and the once-renowned Manbulloo brand. A careful strategy built on meeting customers’ demands is what got her there.
Markets Today: Tax(pl)an
28 September 2017
It’s been news filtering out over the past 24 hours of the Trump/Republican tax plan that understandably gathered the attention of markets and gotten USD bulls re-energised.
Taking socially responsible investment from concept to critical mass
28 September 2017
Beyond reaching institutional investors, socially responsible investment (SRI) assets need to develop sufficient scale and momentum to attract interest from the wholesale markets.
NAB Consumer Behaviour Survey: Q2 2017
27 September 2017
Insights into the mindset of Australian consumers – their anxieties around future spending and savings plans, what drives these concerns and how they are impacting actual spending behaviours and financial hardship.
Markets Today: Dear Prudence
27 September 2017
Fed chair Janet Yellen spoke last night and opined that it would be ‘Imprudent to keep monetary policy on hold until inflation hits 2%’
Pushing your limits: Four extreme sports to make you feel alive
27 September 2017
Winter is over and you’re no longer interested in hibernating. Time to try an extreme sport.
NAB Customer Spending Behaviours: Q2 2017
26 September 2017
Consumers spending their disposable dollars on experiences
Australian Markets Weekly: 25 September 2017
26 September 2017
Jobs boom seeing some emerging rises in advertised salaries.
Markets Today: False Alarm?
26 September 2017
A mild risk-off theme quickly emerged around midnight following North Korea’s statement that the US has effectively “declared war” and that North Korea has every right to “make countermeasures”.
China: The Bond plot thickens
26 September 2017
China is set to increase foreign ownership of Chinese debt. In the near term, we expect Chinese bond market inflows north of US$1 trillion, but in the medium term inflows of more than US$2.5 trillion would not be beyond the pale.
Markets Today: Hung Up
25 September 2017
Hung parliaments on current voting tallies in general elections in New Zealand on Saturday and Germany on Sunday have taken bites out of the NZD and EUR at Monday’s market re-open.
Farm Management Deposits crack $6 billion
25 September 2017
For the first time since their introduction in 1999, Farm Management Deposits have topped $6 billion. Khan Horne, General Manager of NAB Agribusiness, explains which sectors and states have fuelled this incredible growth, and what the result means for the Australian agricultural sector. Khan Horne, General Manager, NAB Agribusiness
Industry leader on how professional services firms must change
22 September 2017
Traditional law and accounting firms need to take a hard look at their business models and ways of pricing, or they risk getting left behind. The man who brought the term NewLaw to the world and has researched and written extensively on the subject gives five pieces of advice.
Markets Today: That’s the way wind-down goes
21 September 2017
The FOMC this morning announced as expected the formal start to winding down its balance sheet to commence next month.
NAB Monthly Cashless Retail Sales Index: August 2017
20 September 2017
NAB’s proprietary indicator of Australian retail sales, the NAB Cashless Retail Sales Index, reveals a sharp decline in spending in the month of August.
The future of retail
20 September 2017
With technology developing at an unprecedented pace and customer expectations constantly evolving, business survival is dependent on understanding and adapting to this changing landscape.
NAB Labs Innovation Index 2017
20 September 2017
Australia’s next phase of growth must be defined by ideas, creativity and execution. Our future lies in our ability to foster a culture of innovation. But how do we measure innovation across all sizes and types of business?
Markets Today: Rocket Man
20 September 2017
US President Trump’s 40 minute address to the UN, in which he described N. Korea leader Kim Jong UN as “Rocket man on a suicide mission for himself and his regime” has given us a (predictable) song title but frankly not much else.
Australia’s dynamic superfunds
19 September 2017
Aussie superfunds face a world where investment themes are changing and there’s a continued search for yield. NAB’s latest Superannuation FX Hedging survey indicates they’re up to the challenge.
Superfunds: how size is making its mark
19 September 2017
NAB’s most recent FX Hedging survey shows that superfunds are adapting their hedging strategies, thanks in large part to an increase in size.
Markets Today: Senses Working Overtime
19 September 2017
GBP and CAD pull back on latest BoC and BoE utterances, helping USD move ahead again aided too by modestly higher US Treasury yields (10s +2bps to 2.23%). This pulls AUD comfortably back below 0.80. It has already traded - intra-day - through last week’s 0.7956 low.
Australian Markets Weekly: 18 September 2017
18 September 2017
Why we forecast – it’s the turning point that matters
Markets Today: Fly!
18 September 2017
Another day on and the Pound has again been the star performer in the currency markets.
Markets Today: Surprise, surprise
15 September 2017
While the market’s focus was expected to be primarily on the US CPI print for August, there was much more market action across the Atlantic with the Pound soaring on the back of a near term rate rise warning from the Bank of England.
The Forward View – Global: September 2017
14 September 2017
Global growth lifts in mid-2017, heading back towards trend rate as pace of advanced economy output expansion picks up.
Markets Today: Running on Faith
14 September 2017
While equity markets had a day of consolidation, the USD and US Treasury yields had a decent move higher aided by increasing hopes over US Tax reform.
Clean energy finance to support the transition to a low-carbon economy
14 September 2017
US$90 trillion in new investments by 2030 have been estimated as necessary to meet the goals of UNCOP21 to address climate change. National Australia Bank (NAB)'s David Jenkins says the opportunity for green bonds to mobilise capital for this transition to a low carbon economy is immense.
The Forward View – Australia: September 2017
13 September 2017
RBA to remove some emergency accommodation in 2018.
Markets Today: UK inflation thunder
13 September 2017
Yesterday’s song title was Start me up by the Rolling Stones and it still seems an apt description with the risk‑on tone continuing overnight.
Six superfood opportunities for farmers
13 September 2017
Superfoods can mean super profits. But which ones are gaining the attention of Australian farmers?
NAB Monthly Business Survey: August 2017
12 September 2017
Business conditions are strong. Confidence takes a hit. Some signs of inflation pressure.
Markets Today: Start me up
12 September 2017
A broad risk on rally that started in the Asia continued overnight driven by expectations of a lower damage bill from Hurricane Irma and the absence of geopolitical headlines with North Korea not launching an ICBM on Saturday as many had feared it would.
Australian Markets Weekly: 11 September 2017
11 September 2017
What does the Bank of Canada mean for the RBA?
NAB Rural Commodities Wrap: September 2017
11 September 2017
Seasonal conditions remain a major consideration.
Markets Today: Doctor! Doctor!
11 September 2017
USD indices closed in negative territory on Friday, but managed to recover a bit of ground in the overnight session, thanks to a rise in UST yields and a softer CAD after a mixed employment report.
Markets Today: I don’t care, I love it
8 September 2017
I don’t care, I love it was the electro pop song of 2012. So it was with the market reaction to the ECB meeting overnight with the Euro higher (+0.9% to 1.2023) and German Bund yields lower (-4.0bps to 0.31%).
US Economic Update: September 2017
8 September 2017
Increasing household wealth (due to rising equity and house prices), as well as a high level of consumer confidence, remain tailwinds for consumer spending.
India GDP and Monetary Policy: September 2017
8 September 2017
The Indian economy decelerated in the June quarter, growing by 5.7% yoy, the lowest since March 2014.
A new way to look at a tough problem
7 September 2017
The Queensland Government’s first social bond that seeks to reduce reoffending by young people has been launched by Life Without Barriers and NAB.
NAB Online Retail Sales Index: July 2017
6 September 2017
Online sales growing over the year, slight slowing in the month.
Can we afford not to be ethical income investors?
6 September 2017
Ethical investment was a hot issue at the KangaNews-NAB Fixed Income Beyond the Institutional Sector Summit in July. NAB’s Mark Todd and a panel of ethical investment industry leaders discussed how this market is developing in Australia.
Markets Today: Oranges and Lemons
6 September 2017
The ancient English nursery rhyme was used allegorically in George Orwell’s 1984 to foreshadow the death of true knowledge (and so the advent of fake news, some 50 years before the Simpsons in 2001 foretold of Donald Trump’s ascendency to the US Presidency).
The Trump Economic Agenda: What next? – September 2017
5 September 2017
Waiting to see if goals on tax and trade can make up for failure on health reform
Super evolution: NAB Superannuation FX Hedging Survey 2017
5 September 2017
Our 8th biennial survey captures the shifting priorities of Australian super funds in a rapidly changing landscape.
From parents’ garage to NY Fashion Week: How Misha took her brand global
5 September 2017
Australian fashion house Misha Collection has risen to international status within the space of three years. Fundamental to its success has been the approach of its founder, Michelle Aznavorian, a 27-year-old who has put her personal brand at the core of the company’s strategy.
Markets Today: While my risk position gently weeps
5 September 2017
There are plenty of news stories about the muted reaction from markets to the latest escalation on the Korean peninsula.
Australian Markets Weekly: 4 September 2017
5 September 2017
Consumer confidence – personal finances weighing.
Essential Asia: Take cover from the Pyongyang Tantrum
5 September 2017
North Korea, China’s Communist Party Congress and Singapore’s policy rate decision are on market radar in October, along with Fed’s policy normalisation thereafter.
Australia GDP Preview: Q2 2017
4 September 2017
Q2 GDP data will be released on Wednesday 6 September at 11:30am AEST. Additional partials will be available tomorrow and may alter our forecast.
More than chemicals: Titan Ag connects with farmers
4 September 2017
After 10 years in business, Titan Ag is now a formidable strength in holistic agricultural chemical supply, respected for competitive products, relationship building – and now for being grain producers themselves.
School rules: How a new process boosted efficiency
4 September 2017
Transforming your payments system doesn’t have to hurt and can in fact save time and increase efficiency, as Perth’s Wesley College found out.
Markets Today: All eyez on me
4 September 2017
"All Eyez On Me" is a single by 2Pac’s fourth album by the same name and it is one of the most acclaimed hip-hop albums of the 1990s.
Markets Today: There’s nothing holdin’ me back
1 September 2017
It was another FX dominated session with the standout performer being the Canadian Dollar, up 1.1% after stellar Q2 GDP figures.
Where can investors find income (at a fair price)?
31 August 2017
A panel of fund managers and NAB’s Connie Sokaris discussed the vexing issue of how to create income in a low interest environment at the KangaNews-NAB Fixed Income Beyond the Institutional Sector Summit.
Markets Today: This is what you came for
31 August 2017
The US dollar rose 0.6% across the board overnight in reaction to stronger than expected US GDP growth and a stellar ADP payrolls print.
Five property investment tips for business owners
30 August 2017
Under the pressure of managing day-to-day responsibilities, successful business owners don’t always realise they may also be in a position to build a property portfolio.
Markets Today: Put down that weapon
30 August 2017
The “risk off” sentiment that overshadowed markets after the launch of yet another missile from North Korea didn’t even last 24 hours.
Markets Today: Rain
29 August 2017
With Jackson Hole out of the way, markets and related news have been more focussed on Hurricane Harvey, some more news stories out of the West Wing and the resumption of UK-EU Brexit talks. It was a bank holiday in the UK.
Australian Markets Weekly: 28 August 2017
29 August 2017
Construction job opportunities rising; mining jobs reappearing
NAB Independent Schools Survey 2017: Part 1
28 August 2017
Student mental health on the agenda for schools.
Markets Today: When you say nothing at all
28 August 2017
Well I never thought I was going to use Ronan Keating for a morning note tittle, but he just said it the best.
The day after tomorrow’s economy
25 August 2017
NAB’s Mark Todd and a panel considered the future of fintech and the implications for investment at the KangaNews-NAB Fixed Income Beyond the Institutional Sector Summit.
Putting socially responsible investing into practice
25 August 2017
At a basic level, SRI asset managers often adopt one of two approaches whilst for an individual investor, there are three main approaches.
Markets Today: Exodus
25 August 2017
Markets are little changed in the lead up to Jackson Hole, with little in the way of major FX moves to report.
Markets Today: Jackson
24 August 2017
Yesterday’s USD resurgence accompanied by an improvement in risk appetite and hopes of progress on US tax reform came to an abrupt end courtesy of President Trump threat of a government shutdown, if funding isn’t included for the border wall promised in his campaign.
Fast food entrepreneur tastes success a second time
24 August 2017
Life after a business sale? What Antonio Cerqueira, founder of Oporto, did next.
Markets Today: In the air tonight
23 August 2017
It’s been a risk-on night, a night of some returning support for the USD, the Bloomberg spot dollar index up 0.34% (the DXY by 0.46%), the Swiss Franc and the Yen seeing the larger declines overnight. The driver has been US politics and enlivened talk on tax reform.
Markets Today: Total Eclipse of the Heart
22 August 2017
It was a very quiet session overnight with little data of note.
Australian Markets Weekly: 21 August 2017
22 August 2017
Dual-citizenship crisis – government’s majority still likely ok.
Markets Today: Gone Daddy gone
21 August 2017
The lack of key data releases and major corporate earnings news contributed to Friday’s quiet trading session with major US equity indices trading in and out of positive territory.
From crisis to culinary success: the story of Meredith Dairy
20 August 2017
When the Australian Government removed price reserve guarantees on wool in 1991, the resulting price collapse meant long-standing beef, lamb and wool producers Julie and Sandy Cameron had to either innovate or accept that their business would perish.
Going bush with the sharing economy
20 August 2017
A sharing platform for agricultural equipment could see Aussie farmers spending less on machinery and earning a sideline income hiring out gear which would otherwise sit idle in the shed. Agri View reports.
What is socially responsible investing?
18 August 2017
SRI aims to incorporate environmental, social and governance (ESG) factors into investment decisions and the industry is growing rapidly.
Michelin dreaming? From New York to London, four not to miss
18 August 2017
Fancy some liquid vinegar encased in frozen vinegar that explodes in the mouth? Or is Bread of the Forest with moss butter more your style? We look at four Michelin-starred restaurants to put on your radar right now for your next trip away.
Markets Today: Play It Safe
18 August 2017
The Japanese Yen and Swiss Franc top the FX leader board while the AUD is close to the bottom at 0.7884.
US Economic Update: August 2017
17 August 2017
After a sluggish start to the year, GDP growth rebounded in the June quarter and the labour market continues to tighten.
Markets Today: Break me shake me
17 August 2017
The USD rally ground to a halt overnight amid continued US political machinations and uncertainty over the trajectory for inflation in the latest FOMC Minutes.
NAB Monthly Cashless Retail Sales Index: July 2017
16 August 2017
The NAB Cashless Retail Sales Index is a new product which provides timely proprietary data on a major part of retail spending in Australia.
Markets Today: Animal
16 August 2017
Looking through Spotify this morning I was surprised to see that “Animal” is quite a popular song title. I was going with Pearl Jam 1994 hit, but then I noticed I could have gone with Deft Leppard or more recently Ellie Goulding or Kesha would have also done the trick.
Satellites and infrared guns deliver hi-tech boost to mango growers
16 August 2017
Research trials on two Northern Territory mango farms are investigating the potential of high resolution satellite imagery combined with fruit-scanning guns to improve productivity and farm efficiency.
Markets Today: Geopolitical Cold Water?
15 August 2017
The Aussie was slightly weaker at -0.5% with weaker than expected Chinese data weighing alongside a stronger US dollar.
Interlinking expertise
15 August 2017
Using cross-sector partnerships to connect and capture data that underpins system-wide problem solving can create better societal outcomes.
Australian Markets Weekly: 14 August 2017
14 August 2017
Looking for improvement in SA, QLD and WA.
Markets Today: The Price You Pay
14 August 2017
The NASDAQ rose by an impressive 0.64. In commodities USD slippage helped gold gain $4 to $1287.7 (up $20 on the week).
Markets Today: Jump
11 August 2017
Looking at the overnight chart US equities opened lower following the moves from Europe and Asia.
The Forward View: Global – August 2017
10 August 2017
Global growth heading back toward trend after soft first quarter.
Markets Today: Geopolitical poker face
10 August 2017
Geopolitical tensions surrounding North Korea dominated the overnight session. However, market moves were contained following a winding back in rhetoric by US Administration officials.
The Forward View: Australia – August 2017
9 August 2017
No imminent return to “neutral”
Markets Today: Bridging the gap
9 August 2017
Bridging the gap is a song by American rapper Nas and as a tribute to his father the song aims to bridge the gap from blues, to jazz, to rap.
Digital expense claims no longer a daydream for mid-market
8 August 2017
Cutting the amount of time workers spend on administrative tasks can mean big benefits for a business’ bottom line. Yet for SMEs, honing processes like expense claims often have to take a back seat to building the business. Or do they?
NAB Monthly Business Survey: July 2017
8 August 2017
Conditions continue their strong run, bolstering business confidence.
Markets Today: It’s oh so quiet
8 August 2017
It’s been a slow start to the week, not just because of yesterday’s NSW bank holiday (it’s not exactly the centre of the universe is it, much as some of us might like to believe otherwise?).
Australian Markets Weekly: 7 August 2017
7 August 2017
Retail glimmers of light in a competitive landscape.
NAB Rural Commodities Wrap: August 2017
7 August 2017
The NAB Rural Commodities Index fell 1.2% in July as generally higher grain prices were offset by weakness across livestock, dairy, cotton and mixed performance in horticulture.
Markets Today: Fed Up
7 August 2017
DJ Khaled didn’t have the folks in Washington’s Eccles Building in mind when he composed ‘Fed Up’ in 2009, but December 2017 Fed rate hike pricing pushed up from around 40% to 50% on Friday.
Markets Today: It Takes (more than) Two
4 August 2017
The British Pound has been knocked off its recent lofty perch.
Essential Asia: Greenback in the outback
4 August 2017
There are some signs of hesitation about pushing Asian currencies to significantly stronger levels than currently. While most will still respond to the US-centric factors in the USD price actions, but some domestic concerns could be kicking in.
A New Architecture for Social Good
3 August 2017
The second report in the Catalyst Insights Series, was developed following a roundtable focused on enabling the public and the private sector to work together to create better societal outcomes.
NAB Online Retail Sales Index: Indepth report – June 2017
3 August 2017
Online sales still growing, albeit slower over the month and year.
Markets Today: Summer Time
3 August 2017
The Dow Jones moved up to 22000 for the first time ever boosted by Apple’s better than expected sales report - Apple shares rose 4.7% to 157.14 after posting a 7% increase in revenue.
Australian Markets Weekly: 31 July 2017
1 August 2017
The reasons for slow wages growth in Australia and around the world is a topic occupying the minds of central bankers.
Markets Today: A Hard Rain’s A-Gonna Fall
1 August 2017
"We are experiencing a bubble not in stock prices but in bond price”.
Evolution of the Australian dollar bond market
1 August 2017
The AUD bond market is not just one market. It's, at last count - at least six markets with their own features, documentation and target investors.
Markets Today: Bohemian Rhapsody
1 August 2017
The Euro is trading this morning at 1.1844, the best performing of the majors overnight, up 0.96%.
Millennials a generation of entrepreneurs
1 August 2017
Millennial SME owners are far more focused on growth and digital platforms than other generations, according to a new report released by NAB. But can they handle the ongoing pressure of entrepreneurship?
Markets Today: Breaking up is hard to do
31 July 2017
Brent oil rose back above the $52 mark punching through its 200MDA and now is almost 10% up month to date.
Markets Today: Fixing a hole
28 July 2017
The AUD lost momentum into the London session as the USD recovered some of its mojo.
NAB Quarterly SME Business Survey: June 2017
27 July 2017
SME business conditions eased in Q2 while leading indicators remained mixed.
Markets Today: Never make a move too soon
26 July 2017
As expected, the FOMC left the funds rate unchanged overnight.
Australia’s first Sustainability Bond launched
26 July 2017
The nation’s first Sustainability Bond demonstrates how the corporate and education sectors can partner to address pressing issues facing our society and environment.
Markets Today: Get it on
25 July 2017
Judged by equity, bond, and commodity markets, it’s been well and truly a risk-on night, but it’s been more mixed as far as the currency market has been concerned.
Markets Today: Levels
25 July 2017
The AUD reached an intraday high yesterday of 0.7968 but has traded with a softer tone during the overnight session.
Australian Markets Weekly: 24 July 2017
24 July 2017
RBA unlikely to begin to normalise interest rates this year unless unemployment begins to fall sharply soon.
Markets Today: Burning down the (White) house
24 July 2017
In G10 FX, AUD and SEK were the only two currencies to buck the trend of a falling US dollar.
Investing in a relationship
21 July 2017
NAB Global Investment Desk can ensure you find the right investment proposition – particularly helpful if you don’t even know it exists.
From Coppola to Sting: A-Listers making A-grade wines
21 July 2017
Following the nose of savvy A-listers who’ve teamed up with some of the world’s best vintners can see you discovering some stellar wines and sniffing out new takes on classic wine regions. Whether it’s to plan some vineyard hopping or simply order a case, here are some of our favourites.
Markets Today: Twelfth of never
21 July 2017
The pick-up in market price action has continued overnight in FX markets. For the AUD, it’s now pretty much all about the Guy Debelle speech today.
NAB Quarterly Business Survey: June 2017
20 July 2017
The business sector continues to look upbeat, both with respect to current business activity – also evident in the NAB Monthly Business Survey – and importantly, the near-term outlook.
Markets Today: Stay
20 July 2017
Markets have largely paused for breath overnight, with US Treasury yields flat-lining and the US dollar ever so slightly firmer.
Markets Today: How much a dollar cost
19 July 2017
The USD sell off that began yesterday during our day session continued overnight following senate Republicans’ failure to push through their healthcare reform.
NAB Cashless Retail Sales Index: June 2017
18 July 2017
The NAB Cashless Retail Sales Index is a new product which provides timely proprietary data on a major part of retail spending in Australia.
Markets Today: Down under
18 July 2017
It’s been something of a sideways/choppy night.
Australian Markets Weekly: 17 July 2017
18 July 2017
Economy with momentum into Q3
Markets Today: Long way down
16 July 2017
For an avowed AUD bear, Friday was about as depressing a day as it has been all year.
US Economic Update: July 2017
14 July 2017
Following a slow start to the year, GDP growth looks to have accelerated in the June quarter.
Markets Today: La Vie en Rose
14 July 2017
It’s a nod to Bastille Day today and with the US President visiting France, declaring in a tweet his “unbreakable” relationship with the French President.
Gold in focus: July 2017
13 July 2017
Gold began 2017 strongly, up 8% in the first half - despite falling 2% in June. This weakness has continued into early July, with the strong US payrolls data exerting further weakness on gold. However, gold received some support following Fed Chair Janet Yellen’s semi-annual testimony, which the markets interpreted as somewhat dovish.
The Forward View – Global: July 2017
13 July 2017
Global upturn remains in place despite the risks.
NAB Quarterly Australian Residential Property Survey: Q2 2017
13 July 2017
Australian housing market sentiment (measured by NAB’s Residential Property Index) fell noticeably in the June quarter after climbing to a 3-year high in March.
Markets Today: On the Wings of a Dove (really?)
13 July 2017
The Canadian dollar is the standout winner in FX markets after the Bank of Canada raised rates by 0.25% to 0.75% as widely expected but didn’t deliver the ‘dovish hike’ some were expecting.
Cracking the global market: How Yumbah Aquaculture did it
13 July 2017
Fifteen years ago, two separate groups of enthusiastic investors and abalone farmers set out to secure a footing on the global stage. It wasn’t until they joined forces in 2008 that everything changed and the farms, within the space of nine years, went from individual 70-tonne entities to being the biggest producer of abalone in the southern hemisphere.
Asia-Pacific Debt Capital Markets: Evolving to support a region in transformation
12 July 2017
Any examination of the Asia-Pacific region’s capital requirements, whether by a government, issuer or investor, must begin with the acknowledgement that demographic and financial pressures mean countries can no longer ‘go it alone.’
The Forward View: Australia – July 2017
12 July 2017
Encouraging signs emerging, but long-term headwinds keep RBA on the sideline.
Markets Today: I love it
12 July 2017
After trading to an overnight low of 0.7605, the AUD has staged a decent recovery reaching an overnight high of 0.7643 and settling around 0.7640 currently.
NAB Monthly Business Survey: June 2017
11 July 2017
Business conditions hit another multi-year high, with most industries performing well. Stronger trading conditions (sales) and profitability drove the improvement, while employment conditions were steady.
Markets Today: Summer holiday
11 July 2017
It’s been a very quiet start to the week, generally a night of consolidation for markets ahead of a calendar that sees the US earnings season unfold amid an array of central bankers meeting and speaking together with some data over the next 24-48 hours.
Australian Markets Weekly: 10 July 2017
10 July 2017
Solid US labour market but no inflation alarm bells.
Australian Housing Market Update: July 2017
10 July 2017
Get the latest monthly update on housing market conditions around Australia.
NAB Australian Wellbeing Report: Q1 2017
10 July 2017
Australians reported a further improvement in the quality of their lives in the March quarter.
The moment that changed a business. Business leaders tell – Part 2
10 July 2017
What was the moment that mattered? Adam Hilton, Managing Director of Noisy Beast, Media Manoeuvres' Sam Elam and Co-Founder of Appster, Mark McDonald tell their story.
Essential Asia: Positioned to walk the (policy) tight rope
10 July 2017
Most Asian currencies ended the first half of 2017 stronger vs the USD, this strength has led to the unintended consequences of tighter monetary conditions and worsening terms of trade.
Markets Today: Love Plus One
10 July 2017
In German chancellor Angela Merkel’s words, the G20 accord issued on Saturday night didn’t even attempt to paper over the differences between the United States and the other 19 G20 members.
Markets Today: Feel so close to tapering
7 July 2017
In terms of market moves, most action happened in bonds. The bond sell-off continued overnight, underpinned by a weak French 30-year bond auction.
Markets Today: It Only Takes A Minute
6 July 2017
The AUD is a little softer this morning, thanks largely to comments from RBA Board member Ian Harper in a Dow Jones interview published around 7pm last night.
From MasterChef to meal-kit king: How HelloFresh is shaking up food delivery
5 July 2017
HelloFresh doesn’t just deliver food, its very ethos is about bringing people together to cook and eat. So when the global franchise was looking to set up in Australia, management needed a particular set of skills to run the ship. Tom Rutledge, business graduate and former MasterChef contestant, was just the man for the job.
Markets Today: Should I laugh or cry
5 July 2017
With the US market closed for the Independence Day holiday, the focus has been elsewhere and for the markets in both Asia and Europe.
Markets Today: Little Wonder
4 July 2017
Bowie’s song titles have an amazing suitability for morning note titles, lyrics on the other hand don’t always suit.
Australian Markets Weekly: 3 July 2017
4 July 2017
Population tilting higher.
NAB Rural Commodities Wrap: July 2017
3 July 2017
The NAB Rural Commodities Index is an index of 28 agricultural commodities weighted by the relative size of each commodity in the Australian agricultural sector.
In Focus: Wheat production outlook – July 2017
3 July 2017
The autumn break this year was rather mixed, with some areas receiving good rain and others missing out.
NAB Online Retail Sales Index: May 2017
3 July 2017
Online sales growing over the year, rebound in the month
Markets Today: Where Is The Love?
3 July 2017
The narrow DXY US dollar index ended Q2 recording its biggest quarterly loss since Q3 2010.
Waste not, want not
2 July 2017
How is biogas powering a cleaner future for farming?
Funding, finance and risk – insights from the AFR National Infrastructure Summit 2017
1 July 2017
There’s a fine balance between risk and reward in major infrastructure projects. Understanding the opportunities and challenges is equally important, as is securing the right kind of funding.
Smart cities – insights from the AFR National Infrastructure Summit 2017
1 July 2017
We’re already living in smart cities. The challenge facing Australia is how to ensure our cities deliver the best possible living and working environments in the future.
Bringing procurement processes into the 21st century
30 June 2017
While consumers use the convenience and technological advances offered by credit cards for over 35 per cent of their payments, corporate cards are used for under 2 per cent of business payments.
US Update: Inflation Watch – June 2017
30 June 2017
Inflation has slowed recently even allowing for ‘one-offs’.
Markets Today: Getting better
30 June 2017
German and Spanish CPIs for June were released overnight – in a limited data schedule – and pointed to a better-than-expected print from tonight’s Eurozone CPI by 0.1% if not 0.2%. That’s added support to the EUR/USD and yields overnight, the Euro this morning at 1.1440.
Markets Today: You gotta lift and sometimes that’s how it is
29 June 2017
Lift was Shannon Noll’s first post Australian Idol hit. The lyrics “seems like forever that you’ve been falling, it’s time to move on” are an apt description of the mood of central banks, which have been removing expectations of further policy easing and getting the market into thinking of central banks tightening policy. This theme continued overnight with comments from the Bank of Canada’s Poloz and Bank of England’s Carney.
Markets Today: Every day I love you less and less
28 June 2017
As summer times kicks into full mode in Europe, ECB President Draghi play list is slowly but surely moving away from the likes of Olivia Newton John “Hopelessly devoted to you” , being replaced by more upbeat tunes such as Kaiser Chiefs “Every day I love you less and less”.
Building Australia’s future infrastructure
27 June 2017
NAB Chairman, Dr Ken Henry shares his vision for how we can address Australia’s infrastructure needs, as our population grows.
DIY infrastructure – why wait for Government?
27 June 2017
This paper calls for customer-led infrastructure and specifically identifies examples of the 'DIY protagonist - those individuals, businesses and communities who have identified a need for specific infrastructure and have made it happen.
SMEs redefine success and customers come out on top
27 June 2017
Customer satisfaction, becoming a viable business and surviving tough economic conditions are the top three moments that matter for Australian SMEs, according to a new report released by NAB. And while almost half of SMEs are set to expand, they’re feeling some pressure.
Asian investors and Australian infrastructure
27 June 2017
Asian investors are poised to play a key role in helping to manage Australia’s current stock of infrastructure, and planning and funding it for the years to come.
Markets Today: Goldfinger
27 June 2017
In an otherwise relatively quiet night with only the mildest of risk-on tones, gold was something of a standout.
Australian Markets Weekly: 26 June 2017
27 June 2017
Employment growth is realish.
Giving customers what they want pays off for local council
26 June 2017
Digital transformation on a shoestring opens options for residents, frees up staff and provides big benefits for Brimbank City Council, an organisation focused on delivering for its community.
Seven books to unlock your creativity
26 June 2017
In a changing world, success increasingly comes to those who can devise the most creative solutions to pressing problems. Here we profile seven books to help you reset your thinking, up your flow and tap into your inner creative.
How to boost your chances of succeeding in China
26 June 2017
A new partnership between Monash University’s Food Innovation Centre and China’s largest food processing organisation, COFCO, is aimed at helping Australians better understand the Chinese retail environment.
Markets Today: Blame Canada
26 June 2017
The late great Robin Williams sang this theme song to the 1999 South Park movie at the Academy Awards, penned by Matt Stone and Trey Parker, in which Sheila blames Canada for the kids’ bad language (and more besides) after watching the expletive-ridden Canadian movie Terrence and Phillip: (expletive deleted) of Fire.
Markets Today: You’re the voice, try and understand it
23 June 2017
Norway’s central bank removed its explicit easing bias at its meeting overnight, stating “the balance of risks suggest that the key policy rate will remain at today’s level in the period ahead”.
Markets Today: You say tomato, I say tomahto
22 June 2017
A lingering risk off tone remains evident in markets with equities on either side of the Atlantic ending the day with small losses.
Markets Today: Under pressure
21 June 2017
Almost out of default, the USD is higher in a night of virtually no key data, but not getting any clear support from a mixed set of Fed speak, Charles Evans (voter) sounding dovish and Kaplan too.
Australian Markets Weekly: View from the US
20 June 2017
Strong focus on the implications of the beginning of normalisation of rates by the Bank of Canada.
Markets Today: Easy
20 June 2017
On my way home last night I thought the Spice Girls were a strong candidate for a song title today. Brexit negotiations started overnight and Wannabe (“Tell me what you want”) would have been a good option.
Turning small tasks into big money
19 June 2017
The gruelling task that moving house can be was the inspiration for the online marketplace startup that’s now grown to be a household name and is attracting big investment. Business View spoke to the co-founders of Airtasker, Tim Fung and Jonathan Lui, about their journey.
Taking the pulse of the healthcare sector
19 June 2017
A bounce back in the healthcare sector in early 2017 has experts confident the sector is only primed for further growth. KOSEC founder Michael Kodari reports.
Nuts – the Australian “Super food” for brain power and a healthy heart
19 June 2017
Fifty years ago Australia’s main export market was the United Kingdom, shipping wool and wheat. Today over 83% of all Australian exports are going to Asian countries. Nuts and grains – specifically, nuts - are climbing the ranks of top exports.
Markets Today: Quiet Houses
19 June 2017
Some very refined harmonies from Seattle indie folk band Fleet Foxes to start the week.
Novel approach to niche markets reaps big rewards for Australian Grain Link
19 June 2017
Many farmers take control of their supply chain but few market the benefits to customers as successfully as Australian Grain Link. Over the past 16 years this strategy has helped them carve out lucrative specialty niches that show no signs of shrinking.
The moment that changed a business. Business leaders tell – Part 1
17 June 2017
For Oporto founder Antonio Cerqueira, it was finding the right partner. For entrepreneur Anthony Janssen, it was working on his business, not in it. For Girl Geek Academy co-founder and CEO Sarah Moran, it was backing herself. What was the moment that changed them? Three business owners tell.
Robots as a Service: The future of farm automation?
16 June 2017
Robots as a Service could provide the benefits of robotics without the upfront costs. Technology futurist Shara Evans discusses the potential for increasing production and reducing costs.
Australian Housing Market Update: June 2017
16 June 2017
Get the latest monthly update on housing market conditions around Australia.
Markets Today: Split decision
16 June 2017
A split Bank of England (BoE) decision to keep rates unchanged and another fall in oil prices were the two big events overnight in an otherwise quiet night.
India GDP and Monetary Policy: June 2017
15 June 2017
Indian economic growth decelerated in the March 2017 quarter, with real GDP expanding by 6.1% in yoy terms.
Socially responsible investing in Australia
15 June 2017
Socially responsible investing (SRI) means integrating non-financial factors – such as ethical, social or environmental concerns – into the investment process with the aim of earning both a financial return and a moral ‘return’.
The Forward View – Global: June 2017
15 June 2017
Global upturn remains in place although momentum stalled in early 2017
Financial Anxiety Survey: Q1 2017
15 June 2017
Financial anxiety eases but 4 in 10 consumers still experienced some form of financial hardship in the last 3 months. Financial anxiety continues to be a bigger issue for young people (particularly women) and low income earners.
Markets Today: Janet
15 June 2017
The Fed this morning announced a hike in the Fed funds rate by ¼%, as entirely expected, lifting the Federal funds rate to 1.00-1.25%. But we walk in this morning with the big dollar having been pressured and the US Treasury curve lower. Another case of the usual “buy the rumour, sell the fact”?
The Forward View – Australia: June 2017
14 June 2017
Business versus households – how will the situation resolve itself?
At your service
14 June 2017
As Australia embraces digital, the business services sector is booming. Nimble and tech-savvy service providers are helping businesses reach their customers by bridging the gaps.
Markets Today: American Dream
14 June 2017
The performer among major currencies has been the Canadian dollar where recent strong hints from Senior Deputy BoC Governor Carolyn Wilkins that the Bank of Canada is shifting to a ‘tightening bias’ given signs of an improving economy continues to resonate with markets.
Australian Economic Update: Q1 GDP 2017
13 June 2017
Australian economy ekes out modest growth in Q1
NAB Monthly Business Survey: May 2017
13 June 2017
Business conditions remain elevated, but confidence pulled-back from multi-year highs.
Copper Market Outlook: June 2017
13 June 2017
Production growth to decline or slow in 2017 and 2018.
Markets Today: Mayday
13 June 2017
US bond markets have been treading water in front of the two day FOMC meeting that commences tonight, 10s stuck around 2.2%, while the Australian dollar has been spent most of its time meandering within a narrow 0.7420-0.7445 range.
Markets Today: UK election backfires
9 June 2017
Sterling has been hammered (-1.7% to 1.2735) as the BBC exit poll points to a Hung Parliament (Tories are set to be 12 seats short of a majority, being on track to get 314 seats; Labour 266; SNP 34; 326 required for majority).
US Economic Update: June 2017
9 June 2017
After a slow start to the year, early indications for June quarter GDP are pointing to an acceleration in growth.
Markets Today: Life’s a gas
9 June 2017
The T.Rex 1971 classic is doubtless before most readers’ time but not this one unfortunately, growing up with the first (and still the best) U.K. glam-rockers.
Markets Today: Too low for zero
7 June 2017
It was another quiet session overnight with an ever so slight risk-off tone (Yen, Gold, Vix higher and Treasury yields lower) ahead of Thursday’s key risk events – ECB, UK Election and testimony by former FBI chief Comey.
Rural Commodities Wrap: June 2017
6 June 2017
This is the second month of NAB’s new regional price indicators, in effect a separate NAB Rural Commodities Index for every region in Australia.
The super reforms: An SME perspective
6 June 2017
With far-reaching changes to super just around the corner, business owners need to understand what they will mean to them – before July 1.
Markets Today: Calm before the storm
6 June 2017
It has been a quiet overnight session ahead of what could be a stormy Thursday with the ECB, UK election and Comey’s testimony all occurring on the same day.
Australian Markets Weekly: 6 June 2017
6 June 2017
Underemployment dragging on wages growth.
Markets Today: Strong enough
5 June 2017
Sheryl Crow’s hit ”strong enough” finds Crow frustrated in a relationship and asking the question, "Are you strong enough to be my man?". ell Friday night was all about the US jobs report and no doubt a similar question (without the man bit of course) crossed investors’ mind.
Markets Today: C’mon feel the noise
2 June 2017
US equities have closed on their highs and again with softer oil prices.
Insights from Randi Zuckerburg at the World Business Forum
1 June 2017
Former Facebook marketing director Randi Zuckerberg shares her views on why everyone is an entrepreneur, why every company should do hackathons and why failure is just the start of success.
Diversity insights from business leaders at the World Business Forum.
1 June 2017
There is a strong business case for diversity beyond legal and moral imperatives. Our panel moves beyond the rhetoric to explore how to bring diversity to life.
Insights from Jimmy Wales at the World Business Forum
1 June 2017
Wikipedia founder Jimmy Wales on why he’s good at failure, the need to protect information integrity and what he’s about to launch next.
Insights from Ian Williamson at the World Business Forum
1 June 2017
Disruption is impacting both businesses and communities. But there are greater opportunities for business to solve for both. Professor Ian Williamson of Melbourne Business School shares his insights.
Insights from Daniel Goleman at the World Business Forum
1 June 2017
From the man who gave the world the EQ revolution comes new thinking on how today’s leaders can embrace connectivity to win in a world of flux and change.
Markets Today: The end of May
1 June 2017
It has been a quiet end to the month of May, nevertheless the month has ended with a few themes raising question marks over the near term outlook for markets.
Insights from Arianna Huffington at the World Business Forum
31 May 2017
There is no trade off between wellbeing and business metrics. We’re at a turning point in terms of how we prioritise what matters in business and our own lives. Arianna Huffington shares her insights on how to thrive.
Insights from Mohanbir Sawhney at the World Business Forum
31 May 2017
“It’s not called failing any more, it’s called learning”: Mohanbir Sawhney, Professor at the Kellogg School of Management, details the concept of agile innovation and shares three ways in which businesses can transform to become agile innovators themselves.
NAB Customer Spending Behaviours: Q1 2017
31 May 2017
New data released by NAB today shows that spending on consumption-based goods and services by NAB customers slowed to 2.0% over the year to Q1 2017, from 3.1% over the year to Q4 2016.
NAB Online Retail Sales Index: April 2017
31 May 2017
Online sales slower over the year, contract in the month
Insights from Rosabeth Moss Kanter at the World Business Forum
31 May 2017
The world is changing rapidly and companies need new approaches to master the new environment. Rosabeth Moss Kanter of Harvard Business School shares her insights.
Insights from Ken Segall at the World Business Forum
31 May 2017
Simplicity is about perception, authenticity and doing fewer things better. Former Apple creative director Ken Segall reflects on his time at the tech innovator to explain why simplicity is also the foundation of great business practice in today’s complex world.
Markets Today: Pressure down
31 May 2017
There was little in the way of significant market moves overnight.
Randi Zuckerberg
30 May 2017
Director of Marketing at Facebook from 2005 to 2011, today Zuckerberg is the Founder & CEO of Zuckerberg Media, a boutique marketing firm and production company.
Jimmy Wales
30 May 2017
Jimmy Wales is a US internet entrepreneur, wiki pioneer, and technology visionary, who is best known as the founder of Wikipedia – currently the fifth most popular website in the world.
Ian Williamson
30 May 2017
Ian Williamson is the Helen Macpherson Smith Chair of Leadership for Social Impact at the Melbourne Business School.
Daniel Goleman
30 May 2017
The world’s indisputable authority on emotional intelligence, Daniel Goleman’s contributions to the field of psychology have had a transformational impact on the world of business and beyond.
Q&A with Ken Segall
30 May 2017
Ken Segall is the author of the bestselling book Insanely Simple.
Coming Up : Daniel Goleman – Emotional Intelligence
30 May 2017
Hear powerful insights and fresh perspectives from some of the world’s leading business success stories. Use Chrome if you are having trouble viewing video. * As this will is a live broadcast, commentary cannot be made here. Follow @#WOBISydney on twitter.
Australian Markets Weekly: 29 May 2017
30 May 2017
Infrastructure spending emerging and not too soon.
Markets Today: Enjoy the silence
30 May 2017
With the US and the UK markets closed for Memorial Day/Spring bank holidays, the focus in a quiet night was on European markets, specifically interest in ECB President Mario Draghi’s speech to the European Parliament.
Rosabeth Moss Kanter
29 May 2017
Rosabeth Moss Kanter holds the Ernest L. Arbuckle Professorship at Harvard Business School, where she specialises in strategy, innovation, and leadership for change.
Markets Today: Mind the Gap
29 May 2017
Ahead of a long weekend US equities ended the week in a relatively subdued note, oil prices recovered a bit of lost ground since the drop in prices post the OPEC’s production cuts extension announcement and US treasury yields were little changed.
Listen to Mohanbir Sawhney share his thoughts on innovation
28 May 2017
Mohanbir Sawhney is a globally recognised scholar, teacher and consultant in business innovation, technology marketing and new media.
Arianna Huffington
27 May 2017
Arianna Huffington is the founder of The Huffington Post
Minerals and Energy Outlook: May 2017
26 May 2017
OPEC deal was extended a further nine months despite low prices.
Markets Today: What goes on
26 May 2017
It’s been a night where oil news took centre stage in the lead up to the end of the week with liquidity likely thinner today/tonight into the US long weekend with the US Memorial Day holiday on Monday.
A look at Australia’s housing construction cycle
26 May 2017
The peak in the housing construction boom is approaching. 'Oversupply' of apartments warrants close monitoring, although various industry constraints will provide an offset.
Markets Today: FOMC looking for inflation
25 May 2017
The biggest news overnight was the FOMC Minutes, which were interpreted cautiously by the market as confirming the likelihood of a June rate hike, but casting some uncertainty over the trajectory for rates thereafter. The US dollar fell on the news, while bond yields declined.
NAB Consumer Behaviour Survey: Q1 2017
24 May 2017
NAB’s Consumer Anxiety Index - which measures concerns about future spending and savings arising from job security, health, retirement, cost of living and government polices - fell to a survey low 55.9 points in Q1 2017 (58.7 in Q4 2016).
Markets Today: USD higher ahead of FOMC Minutes
24 May 2017
European and US equities have continued to edge higher amid a mild risk positive tone in the overnight session.
Markets Today: Calm on the water
23 May 2017
It’s been a night of relative calm when all is said and done and not at all resembling the middle of last week.
Australian Markets Weekly: 22 May 2017
22 May 2017
How much spare capacity is in the labour market?
Markets Today: Dollar Days
22 May 2017
The recovery in US equities continued on Friday and unlike Thursday, European equities also managed to record some gains.
Markets Today: Problema
19 May 2017
The US market has taken a breather overnight, notwithstanding news very late in the overnight session yesterday that a Special Counsel (Robert Mueller, ex-FBI Director) was being appointed to investigate Russia’s involvement in the election.
SproutX boosts agtech innovation with start-up support
19 May 2017
Australia has the talent and the willing investors, so what’s holding our agtech sector back? SproutX General Manager Sam Trethewey discusses a new accelerator program and national co-working space network that could put us on a par with the world’s great innovators.
Markets Today: Confessions Part II
18 May 2017
It’s been a real night of risk-off emanating from the US and the Twitter sphere going into overdrive over speculation around whether the President pressured James Comey – then FBI Director - to drop his investigation into Mike Flynn, former National Security Adviser, with Russia in the mix.
US Economic Update: May 2017
18 May 2017
A slow start to the year…again.
NAB Charitable Giving Index: February 2017
17 May 2017
Now in its 6th year, the index highlights trends in giving and helps inform charities’ fundraising strategies.
Local government – an untapped infrastructure financing market
17 May 2017
Given the success of PPPs and privatisations at the Federal and State Government levels, why are local governments not in the spotlight?
Markets Today: Euro love or a beautiful mess?
17 May 2017
The two most significant development overnight were a 1.0% surge in the Euro (Euro now fetches 1.1089 – the highest since November 9 2016), and continued weakness in the US dollar with the DXY down 0.7% overnight and at its lowest point since just after the US the election.
The world’s best: Eight of the most incredible ski resorts on the planet
16 May 2017
From the best powder to the brightest bling to the unlikeliest location, we count down eight ski resorts around the globe that are nothing short of exquisite.
Markets Today: Fuel
16 May 2017
Wow! If you are looking for a quick wake me up antidote, try playing Metallica at 5:30 in the morning, trust me you won’t go wrong.
Australian Housing Market Update: May 2017
16 May 2017
Get the latest monthly update on housing market conditions around Australia.
Australian Markets Weekly: 15 May 2017
15 May 2017
Labour market outlook to improve.
Spotlight on Northern Australia infrastructure
15 May 2017
The Federal Government is committed to accelerating economic infrastructure investment in Northern Australia. Up to $5bn in concessional loans to accelerate that investment - are available.
Markets Today: I can’t stand up for falling down
15 May 2017
Almost certainly neither Sam and Dave nor Elvis Costello had inflation or inflation expectations in mind when the recorded this track, though for the record US CPI was running a little shy of3% when Sam and Dave first recorded the song in 1967, and over 20% in the UK when Elvis Costello covered it in 1980.
Taking finger limes to the world
15 May 2017
Remember the Chinese gooseberry? Not so much. Not until it turned into the kiwifruit and began turning up in fruit salads everywhere. Meet the man introducing ancient Australian bush tucker to global foodies as ‘lime caviar’.
Markets Today: When Doves Cry
12 May 2017
Not a big night for markets.
Markets Today: Playing with fire
11 May 2017
The RBNZ made its policy rate announcement a few minutes ago and while the OCR was left unchanged at 1.75% as expected, the Bank failed to deliver a tightening bias.
Asian investors and Australian infrastructure: Video
10 May 2017
A confluence of trends will see Asian investors take an expanding role in Australia’s efforts to address its future infrastructure needs, supporting more innovative and customer-centric approaches to infrastructure that meet investors’ financial, sustainability and business development goals.
Asian investors eye Aussie boost
10 May 2017
FinanceAsia and National Australia Bank’s latest poll of Asian bond investors shows strong demand to boost exposure to Australia — and a clear idea of which sectors will reap the benefits.
Tom Elliott shares Federal Budget highlights
10 May 2017
More for business customers and regional areas, but will the promise of red tape being cut ever be realised? Budget 2017 insight.
Markets Today: After the after party
9 May 2017
After just over 24 hours since Macron’s French presidential election win, the Euro and European equities are feeling a bit hangover following a solid run in the previous two weeks.
NAB Monthly Business Survey: April 2017
8 May 2017
The NAB Monthly Business Survey posted another strong result in April, with both business conditions and confidence improving – pointing to ongoing strength in business activity in the near-term.
NAB Online Retail Sales Index: Indepth report – March 2017
8 May 2017
Online sales faster in the month but slower over the year.
Japan Economic Outlook: May 2017
8 May 2017
Economy regained its footing over 2016 GDP. It grew in each quarter in 2016… the first year this has occurred in since 2005.
Markets Today: “Let’s Love France”
8 May 2017
There wasn’t a whole lot of market movement on Friday in the wake of the April US employment report showing a 211k rise in non-farm payrolls and a drop in the unemployment rate to 4.4% from 4.5%.
Fast moving Fastucas
5 May 2017
Hard work and hustle have helped Melbourne cousins Ross and David Fastuca secure a string of corporate customers and win multi-million dollar backing for Travelport Locomote, their travel platform.
Markets Today: OPEC’s oil Waterloo
5 May 2017
The two big events overnight were a 4.8% slide in the oil price and a surge in European risk assets.
Markets Today: Words
4 May 2017
It’s all been about the FOMC and weakness in the AUD over the past 24 hours.
Markets Today: Sitting, waiting, wishing
3 May 2017
News on Apple’s earning report have hit the screen in the past hour showing revenue and iphone sales slightly missing expectations.
NAB Rural Commodities Wrap: April 2017
3 May 2017
This month NAB Economics introduces new regional price indicators, in effect a separate NAB Rural Commodities Index for every region in Australia.
Australia-India Relationship: May 2017
2 May 2017
No FTA yet, but deepening trade prospects.
US Economic Update: US GDP Q1 2017
2 May 2017
The details for quarterly growth, while mixed, where not as bad as the headline result.
Markets Today: The inflation song
2 May 2017
It’s been a rather listless overnight session, US data has been on the disappointing side, US equities have been headed sideways, the USD did not build further on yesterday’s gains at the start to the week, while oil continues its march lower.
Turning to customers for the answers: Australia’s future infrastructure
1 May 2017
Research by NAB shows Australians don’t think about infrastructure projects as just concrete, bricks and mortar, but rather as the services or conveniences that are derived from them. The role of the customer, and their satisfaction, has been a weakness in the infrastructure governance settings for some time.
Markets Today: The Price You Pay
1 May 2017
News of North Korea conducting another (apparently failed) ballistic missile test crossed the wires about 30 minutes prior to the NY close.
Markets Today: Do you want to know a secret?
28 April 2017
After some mis-communication in March, ECB President Mario Draghi chose his words especially carefully and stuck to his script at his post ECB press conference overnight.
NAB Quarterly SME Business Survey: March 2017
27 April 2017
Conditions were again strong in essential services including health, property, finance, transport and business services.
Markets Today: Much ado about nothing
27 April 2017
It has been a relative quiet session in markets with US politics dominating the headlines.
NAB Quarterly Australian Commercial Property Survey: Q1 2017
26 April 2017
Sentiment in commercial property markets continues to vary widely across states.
Bulk Commodities Outlook: April 2017
26 April 2017
Short term spike in coking coal masks softer trend for bulks.
NAB Australian Wellbeing Index: Q4 2016
26 April 2017
Australians remain highly anxious. While having more money might solve some of our concerns, it would do little to solve some of the biggest detractors of wellbeing. But, it could help close the “wellbeing gap” between high and low income earners.
Markets Today: European dog days are over
26 April 2017
Markets have rallied hard on the back of the French Presidential elections on Sunday.
Australian Markets Weekly: 24 April 2017
26 April 2017
Headline CPI picking up in 2017.
Markets Today: French Kissin’
24 April 2017
The final results of the first round of voting in the French presidential election aren't yet confirmed.
Markets Today: 15 Minutes of Fame
21 April 2017
A fair bit of news to digest overnight, and some market price action across currencies, bonds and equities to accompany it.
Superannuation Reforms – effective 1 July 2017
20 April 2017
On 1 July 2017, some of the biggest changes to superannuation in a decade come into effect. Some of the rules and tax concessions available are changing; discover what this means for you and what opportunities you could make the most of before the end of the financial year.
NAB Quarterly Business Survey: March 2017
20 April 2017
The NAB Quarterly Business Survey generally paints an encouraging picture of both current business activity and the outlook.
Markets Today: Groove Armada
20 April 2017
US equities have come under pressure in the past few hours weighted down by a sharp fall in oil prices following reports of an increase in gasoline inventories.
Markets Today: That’s why they call me Mrs Fahrenheit
19 April 2017
The Pound soared 2.2% overnight following the UK PM’s call for early elections.
What’s old is new again: McKenzie’s pantry classics back in fashion
19 April 2017
New healthy food trends favouring scratch baking and organic and raw produce have created a resurgence of interest in traditional pantry staples, and ingredients brand McKenzie’s is keen to spur on the excitement.
Take the pressure down
18 April 2017
Leanne Faulkner was riding a wave of success building a fast-growing start-up until the business slowed and the stress took its toll on her health. Now she’s helping others learn how to cope with the pressure.
Markets Today: Talk is cheap
18 April 2017
Plenty of news, both economic and geopolitical, since we broke for Easter, the net market impact of which has frankly been quite modest.
The Forward View – Global: April 2017
13 April 2017
Geo-political risks fail to dent global reflation...for now.
Purple is the new black: Why consumers can’t get enough of Bridestowe Estate lavender
13 April 2017
A once-neglected lavender farm, Bridestowe Estate is today a global tourist destination, celebrated for the romance and colour of its 200 kilometres of blossoming lavender rows.
Markets Today: Trumping geopolitics
13 April 2017
Geopolitics took a backseat today with Trump’s Wall Street Journal interview dominating market moves.
The Forward View – Australia: April 2017
12 April 2017
Modest growth as far as the eye can see.
Markets Today: Muddy Waters
12 April 2017
The global macro picture has been muddied by a rise in geopolitical tensions, economic data releases overnight have been largely ignored and safe haven assets have outperformed.
Essential Asia: Surface tension
12 April 2017
The USD’s softness has “strengthened”, ironic as it sounds. Perhaps it is more apt to say that the USD is increasingly depicting a soft Trump environment.
Markets Today: Geopolitical UFO? Not according to markets
11 April 2017
The oil price was the standout performer with WTI oil up 1.6% to $53.10 a barrel while Brent reached $55.99 after having risen for six-consecutive days.
NAB Monthly Business Survey: March 2017
11 April 2017
Results from the March NAB Monthly Business Survey point to an overall healthy economy that is gaining momentum, at least in the near-term.
Australian Markets Weekly: 10 April 17
11 April 2017
The APRA Chairman and RBA Governor both make clear that the recent moves reflect a desire to further tighten lending standards in what is considered to be an environment of heightened risks.
India: Demonetisation & The Economy
10 April 2017
Prime Minister Turnbull visits India after important economic reforms.
Delivering the goods is THE ICONIC ethos
10 April 2017
What does it take to make it in online retail? The ability to put your head down, take risks and follow your vision, says THE ICONIC CFO Anna Lee.
Markets Today: Rebel Without a Pause
10 April 2017
US employment data fell below expectations on Friday, hitting the markets harder than the escalating problems in Syria.
US Economic Update: April 2017
7 April 2017
Investment indicators looking better
Demand soars for new green bonds
7 April 2017
As more investors seek to deploy sustainable capital, National Australia Bank says green bond issuers are being offered a golden opportunity.
Markets Today: Hello Friday
7 April 2017
We haven’t seen a whole lot of market price action overnight, with the US dollar marginally higher, as are US bonds yields but by less than one basis point.
Cropping locally, competing globally
6 April 2017
Head of Asia Business Development, NAB Business & Private Bank, Laura Mattiazzi recently hosted a roundtable discussion at the Global Food Forum addressing the challenges and opportunities facing cropping industries - and how Australian businesses can compete globally.
Markets Today: Fed balance sheet in focus
6 April 2017
It was a busy overnight session packed full of data that led to some intraday moves.
Design failures: why Alessi has 60,000 fish hooks in its warehouse
5 April 2017
Fashion and design identities share their business tips at the Virgin Australia Melbourne Fashion Week Business Seminar, supported by NAB.
Why the customer is in control and how fashion brands should respond
5 April 2017
Global e-commerce and multichannel retailing expert Martin Newman shares his tips on how to build a better e-commerce business.
Markets Today: A little less conversation
5 April 2017
Titles for our Markets Today note are a great topic of conversation with colleagues and clients alike.
Five tips for making the most of digital from fashion leaders
4 April 2017
Insights on how to use digital from fashion leaders at the Fashion Industry Forum, supported by NAB and part of the Virgin Australia Melbourne Fashion Festival.
Markets Today: Risk-off, but the US economy still seems Titanium
4 April 2017
Titanium was the urban-dance hit of late 2011 and is still a favourite of gym junkies the world around. The lyrics also seem to be an apt description of the US economy where data remains strong even though a risk-off tone has developed over the past couple of days.
What Pharrell Williams taught Adidas about collaboration
3 April 2017
When Rachel Muscat was talking to Pharrell Williams about collaborating on a new pair of Adidas sneakers, discussions were going well – until the singer dropped a bombshell.
Australian Markets Weekly: 3 April 2017
3 April 2017
With house prices rising, vacancy rates declining and a previous drop in building approvals, it’s likely that residential construction activity should begin to strengthen.
NAB Rural Commodities Wrap: March 2017
3 April 2017
The NAB Rural Commodities Index is an index of 28 agricultural commodities weighted by the relative size of each commodity in the Australian agricultural sector.
Reinventing the 200-year-old ballet shoe
3 April 2017
The ballet shoe has remained relatively unchanged for centuries – since it went from having a heel to being a flat. Enter former ballet dancer Tim Heathcote who is taking on the establishment to revolutionise its design once more.
Markets Today: Chilled end to a big quarter
3 April 2017
A negative end by US equities to Friday coupled with upcoming risk events suggest the AUD and NZD are likely to tread water at the start of the week.
Why ethical fashion makes good business sense
3 April 2017
Ethical fashion is the right thing to do and also makes good business sense, guests were told at a Fashion Festival forum on responsibility and transparency in fashion.
Markets Today: Under pressure
31 March 2017
European and US equities have brushed aside the negative lead from Asia which saw the Shanghai composite down nearly 1% on the day and its fourth session of declines.
Markets Today: It ain’t over ’til it’s over
30 March 2017
The UK Brexit letter has finally been delivered, but market reaction has been fairly muted.
Markets Today: (Because I’m) Happy
29 March 2017
Getting toward the end of the month and the end of the quarter, and given the torpor of risk assets markets of late, the return of some buying could easily have occurred. And that could well be part of the explanation for overnight moves.
Australian Markets Weekly: 27 March 2017
28 March 2017
Australia’s population growth has strengthened to a 1.5% pace, equivalent to around 350k persons in the past year – almost equivalent to the population of Canberra being added to Australia each year (or a new Darwin and a new Hobart!).
Markets Today: Strong
28 March 2017
The German economy is continuing to out-perform. The run of better than expected data continued, this time from the German Ifo Survey for March.
Markets Today: No way Jose!
27 March 2017
The USD (BBDX) was little changed on Friday while US equities and US Treasury yields ended the week a little bit lower reflecting a mild risk off tone.
Miners make the switch from fly-in fly-out to small business owners
27 March 2017
With Australia’s former mining boom on the decline, employees are looking elsewhere for opportunities.
Prepare for 1 July super changes
24 March 2017
Now is the time to consider what action to take.
Could touring China transform your agribusiness?
24 March 2017
This May 13-23, I will be leading NAB’s Agribusiness China Tour 2017. If your business involves cattle, sheep or wool, I encourage you to consider joining me.
Assets: the currency of the future
24 March 2017
Governments are increasingly moving away from asset ownership. Fully funded capital intensive projects are proving to be an inefficient use of scarce financial budgetary resources.
Markets Today: Don’t let me down
24 March 2017
Some mornings coming up with a title is a real struggle and then others like today you are spoil for choice. I have no idea if Donald Trump is a Beatles’ fan, but if he is ‘Don’t let me down’ would be one of those songs that he couldn’t get out of his head right now.
‘Sheer determination’ behind $230 million success
23 March 2017
Melanie Perkins, CEO of online graphic design platform Canva, discusses her journey from Australian start-up to global success story.
Markets Today: Markets to Trump: Achy Breaky Heart
23 March 2017
Have markets broken up with the Trump trade? Today will be a key test of this hypothesis with the US Congress voting today on a key healthcare reform bill which is seen as a crucial test of the relationship between the White House and Congress.
Markets Today: The crude oil blues
22 March 2017
The AUD remains a tad under 0.77 this morning, in a session where there’s been some overall diminished appetite for the USD, with the Yen the strongest in the session, up 0.65% at 111.8, with gains also for the EUR, Sterling, and the Swiss Franc.
Markets Today: Tick, tick, tick
21 March 2017
The market opened yesterday in the Asia session where it closed on Friday with the USD and Treasury yields in retreat.
Australian Markets Weekly: 20 March 2017
20 March 2017
From its peak in July 2011 to a trough some 4½ years later at the start of 2016, the RBA commodity price index fell by more than half (-57%) in SDR terms (or -45% in AUD terms).
Markets Today: Back in the U.S.A.
20 March 2017
R.I.P. Chuck Berry. And R.I.P. anti-protectionism, after the weekend G20 meeting communique omitted reference to avoiding protectionism, reflecting the new reality of the USA’s position
US Economic Update: March 2017
17 March 2017
Jobs growth, business surveys and consumer sentiment all point to an economy in good shape.
NAB’s World on Two Pages: March 2017
17 March 2017
In February, the NAB Monthly Business Survey moderated from the surprising strength seen in January, but remained consistent with a relatively robust view of business activity and investment behaviour in the near-term.
Markets Today: Parting Shot
17 March 2017
US equities have reversed about half of yesterday’s post Fed rally, the USD is a little bit softer and UST yields are a little bit higher.
Markets Today: Three Times a Lady
16 March 2017
Janet and Co. has spoken and like the Commodores before them, re-affirmed that three is the magic number.
Farmer insight wanted for online wellbeing program
15 March 2017
Researchers are seeking help from farmers around Australia to test and advise on a new online resource designed specifically to help farmers better cope with the challenges of their occupation.
Markets Today: My [oil] delirium weighs on bonds
15 March 2017
What was meant to be a quiet night ahead of key risk events (US FOMC and Dutch elections today) turned out to be rather more exciting.
Australian housing market update: March 2017
15 March 2017
Get the latest monthly update on housing market conditions around Australia.
NAB Monthly Business Survey: February 2017
14 March 2017
Business survey suggests solid near-term activity, despite easing from multi-year high.
Australian Markets Weekly: 13 March 2017
14 March 2017
What can the history of Australian monetary policy tell us about the current monetary policy debate?
Markets Today: When tomorrow comes
14 March 2017
It has been a quiet overnight session with markets essentially marking time ahead of key risk events tomorrow and later in the week.
Hats off to 50 years in business
14 March 2017
Business View dips its lid to a family business celebrating its fiftieth anniversary.
Oil Market Outlook: March 2017
10 March 2017
Prices have seen a gradual recovery from the mid-2014 to early 2016 price slide.
Like father, like daughters: It’s all in the family at Perth funeral business
10 March 2017
Having his four daughters join the Perth funeral business he founded 26 years ago was initially something Steve Erceg resisted but today believes their involvement has been key in Seasons Funerals’ evolution and success.
Markets Today: ECB Creaking Door
10 March 2017
As expected the ECB left its key interest rates and QE programme unchanged, but a more optimistic Draghi has helped the EUR performed and it has also pushed bond yields higher.
The infrastructure funding lesson Canada can teach Australia
9 March 2017
Australia and Canada are both running infrastructure deficits and require significant investment to continue to foster economic activity and maintain core social services. NAB’s Chief Customer Officer (Acting) - Corporate & Institutional Banking discusses the key area of infrastructure that Australia needs to do better: funding.
New technology boosts grape yield forecasting accuracy
9 March 2017
Smart phones and GoPro cameras are on trial in Australian vineyards to help grape growers and wine producers better predict the season’s grape yield – information that could reap major savings for the industry.
Markets Today: Workin’ 9 to 5
9 March 2017
298,000 more of them were doing just that last month according to ADP.
Nearly two months of Trump: March 2017
8 March 2017
Financial markets rallied strongly shortly after it was clear Donald Trump would be the next President. This was evident across stock, currency and bond markets, and there was also a decline in credit spreads.
US: Change to Fed Outlook – 6 March 2017
8 March 2017
Change to fed rate call - March hike now expected.
Euro 2017 Elections: What you need to know
8 March 2017
Likely outcome is that the Euro-zone survives.
Markets Today: Marking time ahead of ECB and Payrolls
8 March 2017
Markets continue to tread water ahead of the more important risk events later this week – the ECB meeting Thursday and US Payrolls Friday. There was little in the way of significant movement in bonds or currencies, while equities were a touch lower after having had hit fresh highs last week.
Barbershop boys: Kings Domain duo on social, celebrity and personal branding
7 March 2017
No room left at your local hairdresser? Men, it’s time to pamper yourself.
Markets Today: Sense of doubt
7 March 2017
When nothing else springs to mind, David Bowie songs are always a handy source for a daily note title.
Markets Today: All Cried Out
6 March 2017
Fed chair Janet Yellen sang from the same script as her FOMC colleagues before her on Friday and confirmed that ‘fairly soon’ really does means March. Fed vice-chair Stanley Fischer later chimed in with “If there has been a conscious effort” to boost expectations of a rate rise, “I’m about to join it”.
CarAdvice founder’s journey from $35 start-up to reported $35 million sale
3 March 2017
Within a decade, Alborz Fallah went from investing $35 in a domain name to selling his business for a reported $35 million. Here he shares some key lessons for other business owners.
Essential Asia: Time to get fiscal
3 March 2017
Our G10 FX Strategists still believe that the dollar can end 2017 higher than it is today, but a resumption of an appreciation trend could well be delayed until H2 2017.
Markets Today: Hot n’ Cold
3 March 2017
Hot n Cold is one of Perry’s 2008 hits and is not a bad title for today’s daily. Hot events overnight include EU inflation jumping to a 4 year high of 2%, US jobless claims falling to a 44 year low of 223k and Snap, the parent company of message app Snapchat, rallying 41% on […]
Shh… Australian schools are our quiet innovators
2 March 2017
Australia will rely on its schools to grow the next generation of innovators and entrepreneurs. But to what extent do they innovate themselves?
Markets Today: Forward March
2 March 2017
Something of a return to the good old days in the last 24 hours, when an infolding economic calendar and rhetoric from Fed officials counted for more than what the leader of the free world had to say.
Markets Today: Walking on a dream redux?
1 March 2017
Astute readers (and listeners to our early morning podcast) will note Empire of the Sun’s Walking on a dream was one of our first song titles for 2017. That title was prompted by a lack of detail around Trump’s policies ahead of inauguration day which led markets to ask “is it real”?
NAB Rural Commodities Wrap: February 2017
28 February 2017
Summer has brought extremely volatile conditions to Australia’s cropping districts. While much of eastern Australia has baked in an extraordinary heatwave, Western Australia has suffered substantial flooding.
NAB Customer Spending Behaviours: Q4 2016
28 February 2017
New data released by NAB today indicates that spending on consumption-based goods and services by NAB customers grew 3.1% over the year to Q4 2016.
Markets Today: Process and the passion
28 February 2017
In the lead up to President Trump’s joint session address tonight in Washington (Wednesday 13.00 AEDT is the scheduled time), the US Treasury yields have started the week moving back up, but without too much conviction.
Australian Markets Weekly: 27 February 2017
27 February 2017
Thinking about some of the challenges facing Australian policy makers – and arguably consumers - at the present time, the slow growth in wages looms large.
Markets Today: Home on the range
27 February 2017
Another quiet end to a quiet week but with the U.S. dollar grinding out small gains despite further slippage in US bond yields (10s -6bps) and a fairly flat U.S. stock market (albeit new record closing highs for the S&P and the Dow).
Australia GDP Preview: Q4 2016
24 February 2017
Q4 GDP data will be released on Wednesday 1 March at 11:30 AEDT. Additional partials will be available next week prior to the GDP release.
Markets Today: Read about it
24 February 2017
More focus on the US economy and the big dollar overnight in the wake of a spate of interviews given by now-confirmed US Treasury Secretary Steve Mnuchin. He gave his first interview with the Wall Street Journal yesterday and followed that up overnight with two more interviews with CNBC and Bloomberg TV.
Markets Today: Up, up, and away
23 February 2017
It’s a rather odd world scene right now. Geopolitical factors abound across the globe, with markets again focussing on European politics again overnight, but despite all this and the uncertain shape of US growth, tax and trade policies, the global economy has started the year in rude economic health with evident momentum.
Asia’s road out of globalisation’s retreat
22 February 2017
Infrastructure spending could support growth to different extents, which in turn will support equity inflows.
Markets Today: Livin’ on a European Prayer
22 February 2017
Strong European data failed to excite markets – the exception being equities – as the upcoming French Presidential elections take centre stage. Betting markets now ascribe Eurosceptic Le Pen a 34.2% chance of winning, while a poll by Elable for L’Express magazine overnight puts her within striking distance in a run-off with Fillion with 44% of the vote – inspiration for today’s title “Livin’ on a Prayer” by Bon Jovi.
Markets Today: Europa
21 February 2017
With the US out celebrating president’s day, Europe was always going to be the focus in the overnight session. My dad used to listen to Santana, so the first song that came to mind was “Europa”, a mellow song with no lyrics, but notable for Santana’s guitar solo.
Australian Markets Weekly: 20 February 2017
20 February 2017
One feature of Australia’s recent employment growth has been the subdued pace of full-time job creation at a time when part-time employment has grown strongly
How to up your game: The great gamification movement
20 February 2017
If you want your marketing messages to have stronger impact and engagement, it might be time to consider gamification.
The Cape Grim Beef difference? Taste and clean air
20 February 2017
Cape Grim has carved a definitive space in the premium beef market, offering a grass-fed, mature protein raised in an environment the CSIRO tests as amongst some of the world’s cleanest air.
Markets Today: Sitting, waiting, wishing
20 February 2017
Just over a week ago, President Trump promised a ‘phenomenal’ tax announcement in 2-3 weeks, so as the clock ticks down to some form of announcement, market inertia is set to reign.
NAB’s World on Two Pages: February 2017
17 February 2017
Business surveys and measures tracking the volume of activity suggest that the global economic upturn lifted a notch toward the end of last year and that trend seems to have continued into early 2017.
Markets Today: Down, down
17 February 2017
Don’t be alarmed. It’s not that markets have spat the dummy, but rather US equity markets are down, having opened high, with bond yields also lower. In the currency space the USD has been softer, Euro, Sterling and the CHF stronger. The Aussie has been steady-to-lower, though hugging 0.77, supported by the soggy big buck.
NAB Quarterly SME Business Survey: December 2016
16 February 2017
Low-tier SMEs’ business conditions now comparable to that of their mid-tier and high-tier counterparts
The Forward View – Global: February 2017
16 February 2017
Brighter signs suggest moderate global reflation continues
Markets Today: Why I got March on my mind
16 February 2017
My colleague Rodrigo Catril warned yesterday of the possibility of a US Fed March rate hike – what he termed the Ides of March. That argument gained further currency overnight with the US CPI and core‑Retail Sales printing double the market consensus.
NAB change in cash rate call: February 2017
15 February 2017
NAB Economics changes cash rate view to one 25bp cut in late 2017.
The Forward View – Australia: February 2017
15 February 2017
Stronger near-term momentum will keep RBA on hold, but 2018 still a worry.
Australian housing market update: February 2017
15 February 2017
Get the latest monthly update on housing market conditions around Australia.
Markets Today: Beware the ides of March
15 February 2017
Reaction to Fed Chair Yellen’s semi-annual testimony before the senate triggered a sell-off in US Treasury yields and a broad USD rally as she left the door open for a rate hike as soon as the next FOMC meeting in March.
India Monetary Policy: February 2017
14 February 2017
The RBI, somewhat surprisingly, maintained the policy repo rate at 6.25%. Uncertainty about the effects of demonetisation and sticky core inflation were factors.
NAB Monthly Business Survey: January 2017
14 February 2017
The strength witnessed in last month’s NAB Monthly Business Survey continued into January, with both business conditions and confidence jumping to much higher levels.
Markets Today: Crawling back to you
14 February 2017
The message in American band Daughtry’s 2011 song later covered (with aplomb) by the Arctic Monkeys is, according to the writer, “Your significant other is in the right and just like she said it would happen, you come crawling back”
Rethink Success. Australia’s view on success today.
13 February 2017
Digital economy opening new opportunities for successful careers.
Markets Today: Alive and kicking
13 February 2017
Last week the USD regained its mojo largely thanks to President Trump's hint of a phenomenal tax policy announcement and on Friday the USD waivered, particularly against JPY when at a joint press conference with Japan’s PM Abe, President Trump responded to a question about currency devaluation saying that "we will all eventually...be at a level playing field." and then added "That's the only way you can fairly compete in trade”.
Growing food from big data
10 February 2017
How the Internet of Things will revolutionise farm productivity.
Eye in the sky
10 February 2017
How can satellites help to combat rising global pesticide usage?
Rich Gilmore is breaking new ground in natural value
10 February 2017
Rich Gilmore left school hoping to become a wealthy stockbroker, before a trip to an African mangrove forest opened his eyes to saving the environment. “It was a life changing experience for me to see scientists and volunteers out in the field solving other people’s problems…”
Striking a balance
10 February 2017
How farmers, environmentalists and investors are working together to save the Murray-Darling Basin.
Super dirt
10 February 2017
Why is sustainable soil management so vital to our survival?
Markets Today: Trump trade reignites
10 February 2017
The Trump-trade was reignited overnight on the back of the President flagging an impending “phenomenal” tax announcement.
Markets Today: Message to my market
9 February 2017
It’s been a rather listless overnight session as the US earnings season is drawing to a close with one of the best quarters of growth for quite some quarters. But that, and the tantalising prospect that corporate tax reductions and deregulation from the Trump Administration, and hopes of better growth, seems to be priced in.
Markets Today: The quiet achiever
8 February 2017
In what has been a quiet night of data releases and tweets from President Trump, the USD has been the quiet achiever amid simmering political and fiscal uncertainties in Europe, softer oil prices, flat US equities and lower US Treasury yields.
Markets Today: Non, Je Ne Regrette Rien
7 February 2017
It’s been something of a risk off session to open the week. There’s been a focus on the upcoming French Presidential elections, ECB President Draghi has been batting back criticism from across the Atlantic on currency manipulation (regretting nothing), US markets fretting about the extent of timing of Trump reflation, not to mention ongoing tweets.
Markets Today: William(s) Tell(s)
6 February 2017
A bit of early 19th century opera to kick off the week (don’t fret, I’m sure we’ll be back in rock & roll mode for the rest of the week).
Markets Today: Don’t let me be misunderstood
3 February 2017
The supposedly “lively” conversation that President Trump and PM Turnbull had yesterday over the Australia-US refugee deal has gotten quite a deal of not just Australian press but international press coverage overnight.
Markets Today: Fed plays a straight bat; data goes Boom Boom Pow
2 February 2017
The major event overnight was the US FOMC meeting where rates were left on hold as expected. There were very few changes to the post meeting statement with the Fed playing a straight bat. Markets were somewhat disappointed with Treasury yields and the US dollar reversing earlier gains that had occurred following stronger than expected US economic data.
Markets Today: (More) Good vibrations
1 February 2017
More unwinding of the Trump lower taxes/higher infrastructure spending US$ reflation trade has again been the order of the day. The Bloomberg spot USD dollar index is down by ¾% as markets again sell the big buck, reacting to the latest statements from the new Administration, selling kicking off earlier in the session with some safe-haven buying of JPY and CHF in response to the immigration policies.
At your service: a snapshot of Australia’s booming service economy
1 February 2017
Australia’s service sector already accounts for 70% of our GDP and shows no sign of slowing its growth. That means it’s never been more important to understand the where, what and how of Australia’s most important economic driver. NAB crunches the numbers for you.
NAB Monthly Business Survey: December 2016
31 January 2017
Business confidence has held up quite well and is remarkably steady given the context of major uncertainties both at home and abroad. That said, the level of confidence has not picked up to reflect the overall strength in business conditions seen over the past year or more.
Markets Today: Blue Monday
31 January 2017
New Order’s Blue Monday is the best-selling 12 inch single of all time in Britain (mmm I wonder how many 12 inch singles are out there!) and is also the longest charting single at 7:25.
Markets Today: Little Red Rooster
30 January 2017
A glance at Friday’s New York opening and closing levels for major FX rates tells us that the latest flurry of US data, including a slightly softer than expected Q4 GDP print and downside miss on headline durable goods orders, came and went without much fanfare. US yields dropped on the 1.9% headline GDP print while currencies and stocks did very little.
Attending and exhibiting at trade shows
27 January 2017
Gain awareness and credibility by attending and exhibiting at trade shows. Not only can trade shows increase your visibility among potential customers, they can also provide you with rich insights and market research.
Markets Today: CPI – Hot Potato (or cold spaghetti)?
25 January 2017
Today’s 1994 classic Hot Potato by The Wiggles is likely to be seared into the memory banks of parents and children alike – likewise for your scribe. A staple the humble spud may be, but possibly an expensive one in the 4th quarter according to our economists.
Making business bloom with social media
24 January 2017
How to make your social media presence work for you in 2017? Edible Blooms founder Kelly Jamieson shares seven ways to a better social media strategy.
Markets Today: Don’t worry baby
24 January 2017
Economic reports have been scant overnight. Trump, trade, executive orders and a White House press briefing have provided wire feedstock for news and trade into Asia trade today.
China’s economy at a glance: January 2017
23 January 2017
China records a comparatively strong finish to 2016, but Trump trade uncertainty adds downside risk to our moderate easing forecast for 2017.
US Trade Policy. What Now? January 2017
23 January 2017
Re-building the US industrial base, aiming to “massively increase jobs, wages, incomes and opportunities for the people of our country” is the principal economic objective of the Trump Presidency.
Markets Today: Numero Uno
23 January 2017
In a defiant and brief speech, President Trump made it clear that from now on “It's going to be only America first” and in what has now become a great economic debate he reiterated his view that “Protection will lead to great prosperity and strength”. Against this view, history and economic theory tells us that protectionism usually involves an increase in tariffs and a decline in trade.
Markets Today: Some like it hot
20 January 2017
Markets continue to digest Yellen’s speech yesterday which was seen as mildly more hawkish and positive US economic data overnight played into that view. The ECB also met last night with Draghi coming off as slightly dovish, playing down the recent uptick in inflation and remaining committed to the asset purchase program.
On a fast boat to China
19 January 2017
A free trade zone to expedite Australian food exports into China may soon become a reality. NAB’s Chief Customer Officer believes it’s a game changer for Australian agriculture.
Markets Today: Walking back to happiness
19 January 2017
It’s been a reversal back to USD strength overnight – including a late session kick along from the Fed Chair, more on that below - the Bloomberg spot dollar index up 0.35% before she stepped up to the plate, and another ½% since.
How Moss Wood is selling Margaret River wine to the world
18 January 2017
Clare and Keith Mugford have one defining philosophy that’s been pivotal to Moss Wood's export success over the last 30 years: dedication to absolute quality, from soil to bottle.
Markets Today: Twice if you’re lucky
18 January 2017
Never underestimate the ability of markets to discount the same news twice. Or in the case of the US dollar, the ability to ignore a relevant piece of news one day only to react with alarm to it a day or two later.
Australian Markets Weekly: 16 January 2016
17 January 2017
Against flatter job advertisements of late, job vacancies have been trending higher. Higher job vacancies are usually associated with a lower unemployment rate and greater employment growth
Markets Today: Happy Birthday
17 January 2017
In 1979 President Carter endorsed a bill to have a holiday in honour of Martin Luther King (MLK), but a Conservative Congress at the time refused to pass the bill. Eventually President Reagan signed the holiday into law in 1983 and it was first observed three years later.
Daring to break with the past
16 January 2017
In 2015, Ian Pratt led major changes to his family company, South Haven Group. He discusses its new branding, the decision to establish an independent board – and the all-importance of culture.
Markets Today: A hard rain’s a-gonna fall
16 January 2017
Donald Trump’s inauguration as the 44th President of the United States (45th if you count Grover Cleveland as both the 22nd and 24th President) will capture the world’s attention on Friday.
Markets Today: Walking on a dream
13 January 2017
Walking on a Dream was the inaugural 2008 hit song by Aussie electropop outfit Empire of the Sun. That seems an apt description of how markets have been since the election of Trump with a dream run for equities and the US dollar all premised on the idea of a Trump fiscal stimulus boosting growth and inflation. Now with inauguration just a week away (20 Jan), markets are asking “is it real”?
SAS reaps rewards of staff focus
12 January 2017
Does focusing on staff satisfaction and building a reputation as a great place to work translate into bottom line benefits for companies? Analytics company SAS believes the answer is yes.
US Economic Update: January 2017
12 January 2017
According to the most recent surveys, business conditions and household sentiment are solid, and on an upwards trend.
Markets Today: All shook up
12 January 2017
The overnight session has been a tale of two halves, a dull affair ahead of Trump press conference and a volatile session post.
RMB Roadmap 2017
10 January 2017
Over the medium term, the use of the RMB as both a trade settlement currency as well as a reserve currency remains a priority. This suggests the scope for an eventual “strong RMB policy".
7 tips to survive and thrive as a start-up
22 November 2016
After four years at the helm of a firm in turbo-growth phase, Podpac co-founder Toby Strong shares seven ways start-ups can manage rapid growth and live to tell the tale.
Essential Asia: Waiting for Trump
20 November 2016
Mere speculation of a trade war could send the USD/CNY to around 7.2 as market starts to price in this risk premium.
Green bonds – fuelling a green economy
16 November 2016
Experts from National Australia Bank say the challenges of climate change and countries' need for infrastructure funding mean the green bond market has enormous potential.
Essential Asia: Awaiting emerging patterns
20 October 2016
We revisited and reassessed our currency forecasts for Asia, in light of a base case scenario of a Clinton victory as well as the lesser probability scenario of a Trump victory.
Flight to quality
23 September 2016
Asia-based bond investors surveyed by FinanceAsia and National Australia Bank are seeking safety in higher-rated credits.
Essential Asia: Brace for “Trumpoline” effect
23 September 2016
A potential “time of stress” with the US elections and FOMC meetings in November and December may cause large swings in risk appetite and global liquidity conditions.
NAB’s World on Two Pages: September 2016
16 September 2016
The bigger picture – A Global and Australian economic perspective
Australian infrastructure: Better Infrastructure Initiative
15 September 2016
Conversations about the role infrastructure plays often begins from the perspective of what we don’t yet have, what doesn’t work well, and how much more money we need to deliver better outcomes. NAB believes we are better served by reframing that conversation into one which first acknowledges the wealth of the existing infrastructure framework.
Essential Asia: How deep is your love (for yield)
20 August 2016
While the latest development may underpin the broad USD’s strength, we will not rule out some differentiation in Asian FX movements.
Essential Asia: RMB starts catching up to the USD
20 July 2016
The “tsunami warning” has been lowered and the Brexit-triggered shockwaves to financial markets was surprisingly shortlived. The global financial markets have renewed their risk appetite and developed a tentative pattern of hunting for yield.
Essential Asia: Within EU’ll Remain, Not!
20 June 2016
"Brexit" has engendered the risk of further fiscal and monetary easing in Asia and eventually, will renew focus on the widening growth and interest rate differentials with the US in relation to Fed’s policy tightening bias in 2017. We still view this risk as under-priced and an instrumental driver to sustain firmer USD strength ahead.
RMB Snapshot 2016: The RMB evolves
13 June 2016
The RMB flexibility helps to ensure that China is able to retain a meaningful degree of autonomy in its monetary policy. The authorities however are still keeping the volatility of the RMB significantly lower than the DXY and this is likely to persist.
Essential Asia: The dollar strikes back
20 May 2016
Against this strong USD background, we have identified KRW, SGD, MYR, THB, and TWD as being the most vulnerable over the next few months on account of their low carry.
Essential Asia: Reduced preoccupation on global trio risks
20 April 2016
The market is still fairly ambivalent over the prospects of USD strength and for the time being, markets are not likely to be directional in nature – any positions would have to be tactical rather than strategic.
Essential Asia: The RMB Fog Clears
20 March 2016
Within Asia, those currencies with a greater sensitivity to global moves, like the KRW and SGD, have been amongst the bigger beneficiaries in March.
Essential Asia: The Monkey’s First Leap
20 February 2016
We think Asian currencies are likely to still be tethered to the RMB, which is still likely to be subject to the authorities’ allowing of corporate outflows to dominate.
Essential Asia: Bear with us
20 January 2016
A macro strategist’s view on Asian economies and markets
Essential Asia: Interest in Interest
10 December 2015
With U.S. interest rates on the rise, the focus for Asia is likely to shift to the relative ability to cope. Key highlights: With the U.S. Federal Reserve embarking on a path to rate normalization, the focus in Asia is likely to shift to which economies are best placed to cope. Asia is likely to […]
Essential Asia: Shifting Gears
20 November 2015
A macro strategist’s view on Asian economies and markets
Essential Asia: Pandanomics & Greenshoots
20 October 2015
A macro strategist’s view on Asian economies and markets
Essential Asia: The World is Made in China
20 September 2015
A macro strategist’s view on Asian economies and markets
Essential Asia: Sell-offs and lift-offs
20 August 2015
A macro strategist’s view on Asian economies and markets
Essential Asia: Head(winds) or Tail(risks)
20 July 2015
A macro strategist’s view on Asian economies and markets
Essential Asia: On the Rebound
20 June 2015
A macro strategist’s view on Asian economies and markets
Essential Asia: Policy Bear Pa(w)se
20 May 2015
A macro strategist’s view on Asian economies and markets
Essential Asia: US$ Bull(ied)
20 April 2015
A macro strategist’s view on Asian economies and markets
Essential Asia: Conviction Tested
15 February 2015
A macro strategist’s view on Asian economies and markets
Australian Debt Securities and Corporate Bonds – October 2013
29 October 2013
How to add Australian Debt Securities & Corporate Bonds to a portfolio. We bring you the third of five research reports examining the Australian corporate bond market. In this report we cover the important topic of accessing the fixed income market and the various methods investors can use to access debt securities and corporate bonds.