Morning Report

Latest edition · August 28, 2026

WBC MorningReport28Aug2026

Geopolitical tensions and rising oil prices weighed on global sentiment, though US equities were buoyed by strong forward guidance from Nvidia. In Australia, markets moved to fully price in an RBA rate hike by year-end following strong consumer spending and earlier CPI upside.

Financial markets navigated heightened geopolitical tensions including US-Canada trade friction and stalled US-Iran talks, which pushed crude oil up around 2%. US equities gained 0.7% led by an 8% rally in Nvidia on strong 70% revenue growth guidance, whereas European and Asian bourses weakened. In Australia, front-end government bond yields jumped 7bp as markets moved to fully price an RBA rate hike before year-end, supported by a 1.1% m/m acceleration in July household spending despite a 3.6% q/q contraction in Q2 private capex.

Key takeaways from the latest edition

• 1.Australian markets are now fully pricing in an RBA rate hike before year-end following July's upside CPI surprise, driving a 7bp surge in front-end Australian bond yields.
• 2.Nvidia projected a 70% revenue growth for next year, lifting its shares by 8% and the S&P 500 tech sector by over 3%, supporting broad US equities despite weakness in value sectors.
• 3.Geopolitical tensions rose with US-Canada trade friction and US rejection of Iran MoU talks, pushing Brent and WTI crude contracts up ~2%.

What this series covers

• Key themes
• Data snapshot
• Financial Markets
• Today's key data and events
• International Data
• Local Data
• Corporate Directory
• DISCLAIMER

Edition archive

• WBC MorningReport28Aug2026

  August 28, 2026

• WBC MorningReport26Aug2026

  August 26, 2026

• WBC MorningReport25Aug2026

  August 25, 2026

• WBC MorningReport17Aug2026

  August 17, 2026

• WBC MorningReport23Jul2026

  July 23, 2026

• WBC MorningReport22Jul2026

  July 22, 2026