Friday 31st Janaury 2025PleLast year was a stellar year for growth. Kylie Willment, chief investment officer at Mercer, says they provided a 14 percent return for their superfunds in2024. She highlights a number of opportunities for this year. including growth in private markets. But how will she weather the uncertainty of a Trump administration, where radical trade policies can be implemented quickly? Will Mercer be shying away from investments in areas likely to attract tariffs, like Europe for example? And is AI a technology that will continue to dominate? Do you invest more in it, or diversity away from it? Kylie says we can ‘t expect to see the same level of growth this year, but is she willing to have a stab in the dark and predict the sort of returns we could see?ase note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here. Hosted on Acast. See acast.com/privacy for more information.

Thursday 7th February 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABNon-farms payrolls data is released later today in the US. NAB’s Taylor Nugent talks through some of this week’s other jobs-related data ahead of this key release. Meanwhile, good and bad news from the UK. The Bank of England cut rates by 25bp.Two members of the board wanted to go further. At the same time the bank cut its growth forecast and expects inflation to rise, extending the journey to their 2 percent target. Hosted on Acast. See acast.com/privacy for more information.

Thursday 7th February 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABThe US President veered away from talking about trade today and there seems to have been little market response to his thoughts on the Middle East. Instead, the focus is on the Fed and the labour market. The ADP Employment Report showed a surprising rise in new jobs, but it doesn’t follow that it’ll be reflected in non-farm payrolls on Friday. It rarely is. NAB’s Gavin Friend points out that the latest ISM Services index has US growth at a similar rate to Germany. There have been a few Fed speakers out over the last 24 hours, and NAB’s Gavin Friend reflects on their musings, particularly in relation to potential tariffs. The immediate focus now is on the Bank of England, expected to cut rates tonight. Australia’s trade numbers are also out today. Hosted on Acast. See acast.com/privacy for more information.

Wednesday 6th February 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABMarkets have responded favourably to the news that tariffs have not gone ahead against Mexico and Canada although there is still a chance that there will be measures taken in relation to both countries strong balance of trade. It's likely if that happens that the EU will also be embroiled in that potential trade war. Hence markets have been positive on the latest news but there is still evidently some caution around what happens next. It means there is an unclear path forward for inflation and monetary policy which NAB’s Skye Masters says explains why there has been very little response in bond markets to all the latest tariff news. There’s also a focus now on U.S. jobs with JOLTs showing a sharp fall in job openings,then the ADP numbers out tonight ahead of non-farm payrolls on Friday. Hosted on Acast. See acast.com/privacy for more information.

Tuesday 5th February 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABIs Donald Trump’s bark worse than his bite? At the last moment President Trump has stalled tariffs on Mexico for a month to give them time to negotiate a deal. As yet, no similar reprieve for Canada but, as NAB’s Ray Attrill points out, it has moderated the reaction, particularly in equities and FX markets. “Time to reread The Art of the Deal,” says Ray. Does this mean future proclamations are less solid? China, meanwhile, seems more conciliatory in its response, with the Wall Street Journal suggesting they want to return to a deal made in 2020 in which they promised to buy $200billion in US goods. At the time the President called it the “greatest deal ever made”. Will that be enough to pacify him this time? Hosted on Acast. See acast.com/privacy for more information.

Tapas Strickland, NAB’s expert market economist and strategist, sheds light on the economic landscape shaped by recent US tariffs on imports from Canada, Mexico, and China. He discusses how these tariffs could redefine expectations for global growth and inflation. Strickland delves into the repercussions on GDP and market reactions, while also considering labor market indicators like rising employment costs. The discussion highlights the complexities of international trade relationships and potential retaliatory actions from other nations.

Friday 31st Janaury 2025Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.It doesn’t take a genius to work out that the high price of housing is a function of supply and demand. Supply just isn’t keeping up with the growth in the population. But is that the only reason?Phil presents some alternative theories to Peter Tulip, chief economist at the Centre for Independent Studies. The availability of cheap credit, for example. Or government subsidies like the first-home buyer’s scheme.Peter argues these have all had little impact on long term prices, and it really does get down to supply and demand. He provides compelling evidence from home and overseas. Why this imbalance? NIMBYism? Perhaps the government's focus should be ondispelling the belief that more people mean worse local services. Hosted on Acast. See acast.com/privacy for more information.

Friday 31st January 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABThe ECB cut rates as expected but, in line with other central banks lately, prefers not to map out their expectations for further cuts. NAB’s Ken Crompton says the market is fairly certain that more cuts will follow. Meanwhile, NAB has brought forward the timing of the next RBA cut - now expected in February.   Ken explains why the bank has changed its tune. There’s also talk about the response to yesterday’s Fed meeting and tech earnings, why gold is so strong and why the Yen has been the biggest currency mover this morning. Hosted on Acast. See acast.com/privacy for more information.

Thursday 30th January 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABWhat do the Fed, the Riksbank and the Bank of Canada all have in common? Well, they all just made rate policy announcements, but they have all refused to provide forward guidance, or even determine where inflation is heading. JB Were’s Sally Auld says there’s a lot more uncertainty beyond domestic fundamentals, US trade policy being a significant part of that. The Fed, for example, removed the statement from last time about continued disinflationary progress. It’s been a significant session, with the Fed followed by earnings from big tech players, including Microsoft, Meta and Tesla.  Hosted on Acast. See acast.com/privacy for more information.

Wednesday 29th January 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABUS tech stocks regained some of their losses yesterday, and bond yields are back up today.  Why? Phil asks NAB’s Taylor Nugent whether the Deepseek fears were overblown. Taylor doesn’t think so, and tech bosses will have to have a convincing story to tell as they announce earnings results later this week. Meanwhile the US dollar has gained some ground on speculation that US tariffs will start low, but increase steadily from month to month, but it remains a confusing picture with talk of greater tariffs for Canada and Mexico, Taiwanese chip components and Colombia. Today the focus will be on Aussie CPI and the rate announcements from the Fed, the Bank of Canada and the Riksbank. Hosted on Acast. See acast.com/privacy for more information.