# Chalmers, Starmer and Calmer

Page: https://stenobird.com/podcast/nab-morning-call-427359/chalmers-starmer-and-calmer
Text version: https://stenobird.com/podcast/nab-morning-call-427359/chalmers-starmer-and-calmer.md
Podcast: [NAB Morning Call](https://stenobird.com/podcast/nab-morning-call-427359)
Published: 2026-05-12T20:26:39+00:00
Episode link: https://shows.acast.com/morningcall/episodes/chalmers-starmer-and-calmer
Audio file: https://sphinx.acast.com/p/open/s/631a89913c2be9001415dc41/e/6a038d01ece5b71f1f9bf44f/media.mp3
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JSON: https://stenobird.com/v1/public/podcasts/nab-morning-call-427359/episodes/chalmers-starmer-and-calmer
Duration seconds: 832

## Resource

Wednesday 13th May 2026 NAB Markets Research Disclaimer   Financial Services Guide | Information on our services -   NAB Whether it is Chalmers' budget, Starmer’s fight for survival, or the eerie calm of a stalled Gulf ceasefire, the global economic landscape is shifting in ways that are anything but peaceful. Jim Chalmers' first major federal budget has delivered a blow to property perks by ending negative gearing for existing builds, even as an extra $18 billion in government spending threatens to complicate the RBA's fight against inflation. Phil talks to NAB's Gavin Friend about this domestic shake-up, including a spike in purchase costs in the latest NAB Business Survey and Australian consumer confidence plunging to COVID-era lows. Alongside all this a hot U.S. CPI print of 3.8% that has sent equities lower and yields higher. In the UK, Keir Starmer’s leadership crisis has pushed 10-year gilt yields higher still, while in the Middle East, the "nothing happening" news is actually the worst news of all: satellite imagery confirms Iranian exports from Kharg Island have completely stopped. Hosted on Acast. See acast.com/privacy for more information.

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## Transcript

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