# Xiing is Believing

Page: https://stenobird.com/podcast/nab-morning-call-427359/xiing-is-believing
Text version: https://stenobird.com/podcast/nab-morning-call-427359/xiing-is-believing.md
Podcast: [NAB Morning Call](https://stenobird.com/podcast/nab-morning-call-427359)
Published: 2026-05-17T20:16:42+00:00
Episode link: https://shows.acast.com/morningcall/episodes/xiing-is-believing
Audio file: https://sphinx.acast.com/p/open/s/631a89913c2be9001415dc41/e/6a0a222cefd1f558b046923c/media.mp3
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JSON: https://stenobird.com/v1/public/podcasts/nab-morning-call-427359/episodes/xiing-is-believing
Duration seconds: 964

## Resource

Monday 17th May 2026 NAB Markets Research Disclaimer   Financial Services Guide | Information on our services -   NAB Just when markets were hoping for a diplomatic breakthrough, it’s clear the Chinese leader sees it as America’s problem. Donald Trump’s blunt dismissal of the latest Iranian proposal has sent global markets into a dramatic tailspin. Phil talks to NAB’s Sally Auld about Friday's sharp risk-off move, which saw equities tumble and Brent crude surge toward $110 a barrel as the Polymarket odds of the Strait of Hormuz reopening this month collapsed to a measly 5%. While U.S. Treasury Secretary Scott Bessent tries to calm nerves by calling the bond sell-off a temporary inflation blip, 10-year Treasury yields have added 11 basis points, and the UK remains in its own self-induced political fix as Andy Burnham’s leadership gamble pushes gilt yields up by a striking 18 basis points. This escalating geopolitical storm completely overshadowed surprisingly resilient U.S. industrial production data, leaving G7 finance ministers meeting in Paris today with a messy combination of a soaring U.S. dollar, collapsing consumer certainty, and the looming reality of a hawkish central bank response. Hosted on Acast. See acast.com/privacy for more information.

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## Transcript

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