Wednesday 6th May 2026NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABMarkets seem enthused by the fact that, today at least, things didn’t get worse in the Middle East. That said, they didn’t get any better either, and the world, meanwhile is chewing up its crude oil reserves. NAB’s Taylor Nugent joins Phil to talk through the market action and yesterday’s RBA meeting, which saw interest rates lifted, and the NAB view is that they’ll do it again at the next meeting. Taylor explains the thinking behind that, and looks ahead to New Zealand’s employment data today and the ADP jobs numbers for the US. Hosted on Acast. See acast.com/privacy for more information.

Tuesday 5th May 2026NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABPresident Trump’s Operation Freedom, designed to escort vessels trapped in the Gulf, has got off to a shaky start. Iran claims they attacked a US warship (which the US denies), but nobody seems game enough to traverse the strait of Hormuz. Meanhwile the UAE has seen a number of drone attacks, So markets are uneasy today. On the home front, the RBA is very likely to lift rates today. NAB’s Sally Auld joins Phil to talk through it all. Hosted on Acast. See acast.com/privacy for more information.

Monday 4th May 2026NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABIt certainly seems likely that the war between Iran and USA/Israel will continue for some time to come with Donald Trump likely to reject Iran’s 17-point peace deal claiming that they haven't paid the price yet for the damage they've done over the decades. Still, as Phil discusses with NAB's Rodrigo Catril US equities continued to climb hitting new highs again on Friday. The US President has also taken aim at Europe claiming that they are not following the terms of the trade agreement and saying that he will impose a 25% tariff on European cars as well as pulling out 5000 troops from Germany. This week a lot of the focus will be on the RBA, and non-farm payrolls from the US on Friday, with a swag of European data in the middle of the week as well. Hosted on Acast. See acast.com/privacy for more information.

Friday1st May 2026Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.Phil is joined by veteran energy analyst Neil Atkinson to peel back the curtain on a global energy system pushed to the brink by the ongoing conflict in the Gulf. With the Strait of Hormuz effectively closed, they discuss why the market’s hope for $80 oil later this year may be a "pipeline dream" given that actual physical cargoes are already fetching upwards of $150 a barrel. The conversation dives into the structural shifts reshaping the industry—from the UAE’s seismic departure from OPEC to why major oil giants like BP and Shell are pivoting back to their "fossil fuel basics" to satisfy shareholder demand. Whether it’s the looming threat of aviation fuel shortages in Europe or Australia’s dangerously low 32-day fuel reserve, this episode is an essential guide to understanding the true, long-term cost of a prolonged geopolitical firestorm on the world economy. Hosted on Acast. See acast.com/privacy for more information.

Friday 1st May 2026NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABOil rose to its highest level since the closure of the Strait of Hormuz before retracing and ending up lower than a day ago. Why? Phil talks to NAB’s Ken Crompton. Certainly it's not due to progress on peace talks, quite the reverse. But equity markets have risen on the back of healthy tech earnings results – although some did better than others. The Bank of England and ECB both kept rates on hold but made noises to suggest that rate hikes could be on the agenda if we see second round effects from rising oil prices. And the Yen rose sharply, with the suggestion that its down to intervention by the MoF. US ISM is the main data point tonight. Hosted on Acast. See acast.com/privacy for more information.

Thursday 30th April 2026NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABOil continues to lurch higher, getting close to $120 this session, the highest since the closure of the Hormuz Strait. There’re no signs of progress, infact President Trump is indicating he’d prefer to wait until his blockade has an impact on Iran. That could take some time. Meanwhile, the Fed kept rates on hold in Jerome Powell’s last meeting as chair, with a divided board. Several objected to the neutral tone of the guidance, which suggested the next move is more likely to be down that up. Meanwhile Powell announced he will stay as a Governor for now. NAB’s Gavin Friend joins Phil to discuss this, also a dovish hold from the bank of Canada, and a look ahead to the ECB and Bank of Enfgland. Sand don’t forget the mega-cap earnings coming up. Hosted on Acast. See acast.com/privacy for more information.

Wednesday 29th April 2026NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABMarkets are wobbling, oil is surging, and the world’s central banks are lining up for a big week — but nothing is quite behaving the way you’d expect. Today Phil and NAB’s Sally Auld unpack why oil keeps climbing even as the UAE walks out of OPEC, how OpenAI’s internal stumbles have rattled global equities, and why consumer confidence is mysteriously improving just as fuel prices bite. We’ll dig into the Bank of Japan’s split decision, the jump in euro‑area inflation expectations, and what Australia’s CPI means when “core” no longer tells the whole story. And what to watch as the Fed, BoC, ECB and BoE all step up this week. Hosted on Acast. See acast.com/privacy for more information.

Tuesday 28th April 2026NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABIts another session where equities are rising – albeit only slightly – whilst oil pushes higher. Talks between the US and Iran are not progressing, with the US President suggesting Tehran calls him when they have something to discuss. Meanwhile the Straits of Hormuz remains effectively closed to shipping. It’s in this environment that all central banks this week – the Bank of Japan, Bank of England, the Fed and the ECB, are expected to keep rates on hold. Yet UK bond yields have risen more than most overnight, NAB’s Ray Attrill explains why. Plus, a busy week for earnings, with most of the major tech players reporting. Hosted on Acast. See acast.com/privacy for more information.

Friday 22nd April 2026Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.In this weekend edition of the NAB Morning Call, Kylie Willment, Chief Investment Officer at Mercer, joins Phil Dobbie to explain why their core investment strategy remains sound even as the global landscape becomes increasingly volatile. While Willment emphasizes that their fundamental long-term approach is right, she discusses the necessary "adjustments at the margin" being made to navigate current geopolitical firestorms and the shift toward "just-in-case" economic resilience. The discussion highlights that private and overseas investments remain valid and essential components of a modern portfolio, provided they are backed by rigorous asset-level research and robust protections against persistent inflation risk. From the "massive tailwind" from the energy transition to the relative insulation of the U.S. economy, Willment provides a deep dive into how super funds are evolving to protect member returns in a "messier" era for central banks and global trade. Hosted on Acast. See acast.com/privacy for more information.

Friday 24th April 2026NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABNAB’s Rodrigo Catril joins Phil to discuss a significant escalation in the U.S. naval blockade, which has now expanded into the Indian Ocean with the seizure of tankers carrying Iranian oil. This move follows the earlier strikes in the Gulf and indicates a broadening of the conflict's reach, which has seen S&P 500 and Nasdaq close lower, and oil prices pushing higher, The discussion also highlights a stark economic divergence reflected in the latest Flash PMIs: while the U.S. continues to show resilience with both manufacturing and services remaining above 50, the Eurozone and UK have slumped deeper into contractionary territory.  Hosted on Acast. See acast.com/privacy for more information.