NAB Morning Call

Friday 8th May 2026

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This week Phil explores the massive shift of Australian retirement savings toward Europe as the domestic superannuation system prepares to surge to a staggering $8.3 trillion by 2035. Joined by David Whiteley of IFM Investors and Nicola Jolley, CEO of NAB Europe, the discussion reveals why France has emerged as a premier hub for "patient capital," offering high-value opportunities in Public-Private Partnerships and strategic sectors like low-carbon district heating, waste-to-energy, and digital infrastructure. With so much money flowing into Australian super funds every week, the race is on to secure long-term, resilient returns in the European market. Tune in to discover how Australian workers are becoming some of the world's most influential investors in the global infrastructure of the future.
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Friday 8th May 2026

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Financial Services Guide | Information on our services - NAB

Oil has been down, then up. Equiites have been just as volatile. As NAB’s Gavin Friend discusses with Phil, markets are struggling to find direction as headlines paint an uncertain picture in the Middle East. On the positive side there are reports that Iran will surrender some of its enriched uranium, but also speculation that Iran is insisting on charges for passage through the Strait, and a Wall Street report that the US is set to resume Operation Freedom. Meanwhile, a lot of the focus today will be on non-farm payrolls. Weekly continuing jobless claims are continuing to trend lower. They also look at data from Europe and the possible repercussions of the UK local council elections, with results filtering through in the next 8 hours or so.
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Thursday 7th May 2026

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Financial Services Guide | Information on our services - NAB

Markets are running on hope again today, with the US issuing a memorandum of understabd to Iran, with the hope that month long peace talks could be about to start. Presidnet Trump also cancelled Operation Freedom yesterday. Markets have taken this all as good news, even though the Straits remain closed and oil reserves continue to fall. NAB’s Ken Crompton joins Phil to talk through the positive market sentiment today, as well as delving into jobs numbers in the US and New Zealand. Australia’s trade surplus figures today will be impacted by the price of oil. That’s simple maths, says Ken.
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Wednesday 6th May 2026

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Financial Services Guide | Information on our services - NAB

Markets 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.
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Tuesday 5th May 2026

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Financial Services Guide | Information on our services - NAB

President 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.
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