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

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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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Thursday 21st November 2024

NAB Markets Research Disclaimer

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There’s no been much in the way of data to give markets any direction. Ahead of the NVIDIA results equities were trading lower, with the US dollar up slightly, and no big moves in oil. Phil asks NAB’s Tapas Strickland why there wasn’t more of aa reaction to events in Eastern Europe, with Ukraine firing US and UK supplied missiles into Russian territory, and the US, Italy, Spain and Greece temporarily closing their embassies in Kyiv, fearing an imminent attack. Meanwhile, UK inflation was a little higher than expected, reducing further the chance of a pre-Christmas cut from the Bank of England. There’s also been a claim that labour data in the UK has significantly overestimated unemployment. Today, Europe’s consumer confidence numbers, US existing home sales and initial jobless claims, as well as the Philly Fed business outlook. And the RBA’s Michelle Bullock is talking at 7 tonight in Sydney at the Women in Payments Conference.

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