Sounding the TACO bell

NAB Morning Call · Mar 23, 2026 · 13m

Tuesday 23rd March 2026NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABPhil asks NAB’s Sally Auld if we’re seeing a TACO trade as President Trump pushes back his 48-hour ultimatum by five days, citing productive talks with Iran that the Iranians claim aren't even happening. This glimmer of a potential off-ramp has seen oil prices tumble nearly 10% and US equities rally. Bond yields have also fallen but remain somewhat elevated on the assumption central banks will continue to adopt a more hawkish tone in response to persistent inflation risks. Also…