Tuesday 7th October 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABIt’s been a session light on data but heavy on geopolitics. Markets reacted firmly as expected, to the surprise win for Sane Takaichi as leader of Japan’s LDP. The resignation of the French Prime Minister yesterday was also a surprise, sending yields higher and a big fall in equities. US equities, meanwhile, continue to rise, including a surge in the price of OpenAI after a data-centre deal with AMD. It added $80 billion to the value of OpenAI and raised flags for those worried about the potential for a tech-bubble. And the US government shutdown moves into day seven. NAB’s Gavin Friend joins Phil to talk through a session light on data and heavy on news. Hosted on Acast. See acast.com/privacy for more information.
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Abenomics to rise again? Surprise as Takaichi wins the leadership race in Japan.
Monday 6th October 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABSanae Takaichi won the LDP leadership vote in Japan on Saturday, so is set to become Japan’s first female prime minister. She’s a known supporter of Abenomics, so could its resurgence mean a rate hike by the Bank of Japan is less likely. ‘Yes!’ is the quick answer from NAB’s Taylor Nugent. So what does that mean for bond yields, equities and the Yen today? The other weekend surprise was OPEC+ decision to lift production. We knew it was coming but the size of the increase is well below what many were expecting. Phil and Taylor also discuss Friday’s ISM data from the US and look ahead to a very quiet week, politics aside. And the RBNZ, of course. Hosted on Acast. See acast.com/privacy for more information.
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ASK ANDREW: On AI, Trump, Global Warming, Asia, Debt and Fraud
Friday 3rd October 2025Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.NAB CEO Andrew Irvine returns to the Morning Call to answer your questions. Hear his views on Australia’s investment opportunity from Asia and what he’s doing to make NAB stand out for customers. ‘We have no God-given right to be here’, he says.Phil also relays some pointed questions from listeners; the danger of job losses from AI, NAB’s involvement in a fraudulent loan scandal, pursuing an ESG agenda when the American President believes climate change is a scam, plus the risk of rising global debt, both private and public.Listen in for some frank discussion on The Weekend Edition. Hosted on Acast. See acast.com/privacy for more information.
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The jobs challenge
Friday 3rd October 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABWith no non-farm payrolls out in the US today, and no jobless claims numbers last night, attention turns to private data, of which the Challenger jobs survey is one of the more credible reports. NAB’s Ken Crompton says the overnight data supports the idea of a low hiring, low firing economy, although it did also highlight the extent of the DOGE cuts on government workers. There could be many more of those soon as the US President threatens to cut jobs in departments and agencies that do not support his agenda. The Australian economy looks in good shape with household spending rising, although the rate of growth has slowed. And the RBA financial stability review shows households are building up savings, with an increasing buffer for mortgage repayments. Hosted on Acast. See acast.com/privacy for more information.
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Dancing in the Dark
Thursday 2nd October 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABMarkets will have to feel their way through the next few weeks, because the US shutdown means there’s an absence of key government data. No weekly jobless claims today, and no non-farms payrolls tomorrow. Betting suggests it will last longer than two weeks. NAB’s Gavin Friend joins Phil to talk through the market reaction and the implications. They also examine the surprise fall in the ADP jobs report, the ISM manufacturing survey, Japan’s Tankan survey and European inflation numbers. Today Australia’s trade numbers and household spending data will be of most interest. Hosted on Acast. See acast.com/privacy for more information.
Start your day with the NAB Morning Call for the latest overnight key economic and market information straight from our team of expert market economists and strategists. This includes perspective on overnight news and market price action and the forces shaping movements in Australian and global markets in the days ahead. Hosted on Acast. See acast.com/privacy for more information.
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