NAB Morning Call

Dr. Blair Chapman, Senior Economist at SEEK who tracks labour market and AI-skilled job trends. He highlights rising mentions of AI in job ads and how demand is spreading from tech into marketing and content. New roles like AI ethics officers and content trainers are appearing. He argues AI is mostly augmenting work and that AI fluency is becoming a baseline skill.

Skye Masters, NAB markets economist and strategist, gives quick market commentary and policy perspective. She covers Australia’s steady 4.1% unemployment and why it raises RBA rate-hike odds. She also discusses surging oil prices amid increased U.S. airpower in the Middle East, moves in bonds and FX, and mixed U.S. data shaping global market sentiment.

Gavin Friend, London-based NAB markets economist who covers global markets and policy. He breaks down oil’s jump amid Iran tensions. He explains US tech’s rebound on second‑tier data. He walks through UK inflation cooling and Aussie wages holding at 3.4%. He flags FOMC minutes, RBNZ moves and Zuckerberg’s testimony on algorithms.

Rodrigo Catril, markets strategist and economist at NAB, offers crisp market analysis. He discusses how Iran talks eased risk and calmed oil and metals. He covers tech volatility from AI speculation and the RBA minutes weighing further hikes. He also reviews currency impacts, Canada’s slow disinflation, UK job cooling, and upcoming Australian and RBNZ data.

Sally Auld, NAB markets economist who tracks macro and market trends, guides listeners through jittery Japan GDP figures and mixed Eurozone industrial signals. She discusses cautious optimism for New Zealand, a bullish yet underprotected fund manager mood, a multi-year US dollar downtrend and how Middle East tensions are keeping oil prices supported.

Taylor Newton, NAB markets economist who analyzes inflation and monetary policy. He breaks down why a cool US inflation print sent yields lower. He explains persistent services inflation, revised RBA timing and scenarios that could push rates back up. He previews global data risks from the UK, Japan and Canada.

Stephen Toplis, Head of Research at BNZ and veteran NZ macro commentator. He unpacks whether central banks misstepped on inflation and how that shaped monetary conditions. He compares NZ and Australia on growth, labour migration and housing. He explores limits to dairy expansion, the promise of value‑added exports, renewables, tech and infrastructure as routes to future growth.

Friday 13th February 2026NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABUS markets are wobbling again as the AI boom shows its darker side — soaring investment costs on one hand, and the threat of software-sector disruption on the other — dragging the NASDAQ and S&P sharply lower. Bond yields are softer, commodities are sliding, and the Aussie has dipped below 71 US cents. In the UK, GDP is technically growing but only just, while Japan enjoys a rare week of political calm that’s helped steady JGBs and lift the yen. At home, the RBA’s Sarah Hunter has doubled down on the message that full employment and inflation remain uncomfortably intertwined. And with US CPI due today, markets are bracing for whether the Fed’s disinflation path is still intact. Phil talks it all through with NAB’s Ray Attrill. Hosted on Acast. See acast.com/privacy for more information.

Taylor Nugent, NAB markets economist who tracks macro and sector moves, breaks down overnight market action. She discusses the surprise surge in Australian home loans and whether policy quirks explain it. She also walks through the US payrolls headline jump, its sector makeup, and implications for wages, rates and oil volatility tied to Iran risk.

Ken Crompton, NAB markets economist who parses macro data, interest rates and FX. He breaks down why flat US retail sales pushed Treasury yields lower and raised Fed cut odds. He explains the yen’s sudden strength and what softer Australian business and building data might mean for the RBA.