# The V Word

Page: https://stenobird.com/podcast/nab-morning-call-427359/the-v-word
Text version: https://stenobird.com/podcast/nab-morning-call-427359/the-v-word.md
Podcast: [NAB Morning Call](https://stenobird.com/podcast/nab-morning-call-427359)
Published: 2026-09-24T20:30:45+00:00
Episode link: https://shows.acast.com/morningcall/episodes/the-v-word
Audio file: https://sphinx.acast.com/p/open/s/631a89913c2be9001415dc41/e/6ab58875cf7654f56a9580d2/media.mp3
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JSON: https://stenobird.com/v1/public/podcasts/nab-morning-call-427359/episodes/the-v-word
Duration seconds: 956

## Resource

Friday 25th September 2026 NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB The "V" word is firmly back on the agenda as geopolitical friction, soaring energy prices, and relentless sovereign yield pressures inject fresh ‘volatility’ across global markets. This morning Phil and NAB’s Taylor Nugent break down the forces driving crude oil back over $106 a barrel as Red Sea insurance premiums soar and Middle East tensions escalate. Meanwhile, sovereign bond markets continue their dramatic bear steepening amid a persistent chorus of hawkish Fed commentary and lukewarm Treasury buyback demand. Closer to home, Australian unemployment has jumped to 4.6% despite solid headline jobs growth, while NAB’s Q3 Business Survey reveals tightening margins and deteriorating trading conditions. After the announcement of a trade truce extension, will the Trump-Xi meeting today offer further geopolitical relief? Hosted on Acast. See acast.com/privacy for more information.

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