Market movers ahead
Focus will be on domestic demand in the US this coming week, when both retail sales figures for September and construction activity data are due. We look for a slight fall in retail sales of 0.2% m/m but this comes on the back of strong growth in previous months.
In Europe, industrial production figures for August are due for the entire euro-zone. Given the tumble in German industrial production, focus will be on whether this reflects a broader European phenomenon. We expect a fall of 0.7% m/m.
Inflation will be in focus in China, with the expectation of a fall to 1.8% y/y in September.
The key data release in the Nordic area is Swedish inflation numbers for September. We expect CPI inflation to come in at 0.5% y/y.
Global macro and market themes
Risk appetite is under pressure due to slower global growth.
Lower Oil prices mean lower inflation but are supportive of growth.
Yields under downward pressure, while the USD takes a breather.
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