Westpac Banking Corporation
May 11, 2026
Morning Report
Daily UpdateEquitiesRates Govt BondsFXInformation TechnologyFinancials
Global markets ended the week with a risk-on tone as record-high US equities responded to strong jobs data and hopeful geopolitical news from the Middle East. Locally, Australian markets are focused on the upcoming Federal Budget and tax reforms.
Key Takeaways
- 1.US equities reached new record highs driven by a stronger-than-expected April jobs report and optimism regarding US-Iran negotiations.
- 2.US Nonfarm payrolls rose by 115k in April, significantly beating market expectations of 65k.
- 3.Attention in Australia shifts to the upcoming Federal Budget, which is expected to show an improved deficit of $23.8bn for FY2026.
Table of Contents
- Key themes
- Data snapshot
- Financial Markets
- Today's key data and events
- International Data
- Local Data
- Corporate Directory
- Disclaimer
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Authors
Pat BustamanteLuci Ellis
Securities
SPXINTCAAPLAUDUSD
Themes
Middle East GeopoliticsUS Economic ResilienceAustralian Fiscal Policy
Regions
North AmericaAsia PacificMiddle EastUnited StatesAustraliaIran