Monday 25th November 2024

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Friday highlighted the difference between US exceptionalism and European pessimism. NAB's Ray Attrill explains how PMIs were higher than expected in America, lower than anticipated for the EU. Phil asks how much of the difference is down to anticipated impacts of Trump’s tariff agenda? With political unrest there seems no easy way for Europe to dig itself out of the malaise, short of reading Mario Draghi’s growth proposals. They also talk about the moves in market expectations for rate cuts, for the US, UK and the ECB, as well as for the RBNZ this week.

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Friday 22nd November 2024

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The private credit market is growing in volume with no signs of abating. Brad Calleja, Executive Corporate Finance at NAB, says its difficult to put a precise figure on the size of the space because not all deals are visible, but it’s estimated globally at between $2 and $3 trillion. So, what is it and why is it growing so quickly? Brad explains that it is providing a vehicle for institutional funds, such as super funds, to achieve higher returns from higher risk, longer duration investments that sit outside the risk profiles of most banks. If that’s the case, what’s the role of a bank like NAB in private credit markets? Listen in to understand more.

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Friday 22nd November 2024

NAB Markets Research Disclaimer

Financial Services Guide | Information on our services - NAB

Are NVIDIA investors a bit like Oliver Twist? They want more. That’s the take of NAB’s Skye Masters, who joins Phil on the Morning Call. The data was all second tier and none of it changed market expectations around the Fed’s path of rate cuts. US jobless claims were down, but continued claims were up, suggesting employers are letting less people go, but at the same time are not recruiting more. Positive news on housing, which can be choppy, was offset by gloomy news in the Philly Fed manufacturing outlook. So, it was a mixed picture overnight. The upshot, we need more solid data to get a clearer picture. Meanwhile, in the uncertainty, Bitcoin careers closer to the $100k mark. And will the promise of Roast Turkey drive up shares next week- which often happens on Thanksgiving week.

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