Wednesday 2nd September 2026
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Oil prices have risen sharply with further attacks from both sides in the Gulf. That’s pushed bond yields higher in a world that is struggling to contain inflation. NAB’s Ray Attrill joins Phil to talk about the issue of rising yields which, in Japan have hit a 30 year high. New UK PM Andy Burnham gave his first speech to parliament, and yields there have risen 16bp, which Ray describes as another example of bond vigilantes at work. They also look ahead to today’s Australian GDP numbers, which are unlikely to change NAB’s view that the RBA will lift rates at their next meeting. Meanwhile the RBNZ is expected to lift rates today, with the Bank of Canada holding back for now.
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