NAB Morning Call A better week to come?
9 snips
Nov 23, 2025 Skye Masters, a NAB markets commentator and economist, dives into the pulse of financial markets, discussing a recent recovery in Bitcoin after a sharp drop. She highlights how comments from the Fed's John Williams have raised hopes for a December rate cut, boosting market confidence. Masters also touches on potential NVIDIA chip sales to China and the impact on equities. Additionally, she previews important upcoming data releases and highlights the challenges in global consumer sentiment and inflation expectations.
AI Snips
Chapters
Transcript
Episode notes
Bitcoin As A Sentiment Bellwether
- US equities and Bitcoin fell sharply last week but showed signs of rebound into Friday and the weekend.
- This weekend stabilisation in Bitcoin may signal a more positive start for equity markets this week.
Williams Shifted Fed Expectations
- Comments from New York Fed's John Williams drove markets more than recent data releases.
- Markets repriced materially, boosting the probability of a December Fed cut from about 45% to ~75%.
PMIs Show Subdued Activity
- PMI releases were mixed and broadly subdued across regions, with small directional changes.
- Output price measures suggest tariff-driven boosts to goods inflation may be short‑lived.