Summary: Business conditions improve in July; business confidence deteriorates, below average; NAB: supply, demand moving back into balance, inflationary pressures continue easing; ACGB yields fall moderately; rate-cut expectations firm; NAB: capacity utilisation falling on trend basis; capacity utilisation rate down, still at elevated level. NAB’s business survey indicated Australian business conditions were robust in the first half of 2018, with a cyclical-peak reached in April of that year. Readings from...