In Sweden , the week ahead contains mainly business and consumer confidence (Friday, at 09.30 CET) data from the National Institute for Economic Research (NIER), which is interesting but, alas, not as good an indicator for the Swedish economy as it once was.
In addition, the Swedish National Debt Office (SNDO) is also due to publish a new forecast (Wednesday, at 09:30 CET) and though we expect rather small downward revisions of future net borrowing requirements, we worry that the changes to market functioning in conjunction with the Riksbank's QE purchases imply that T-bill auctions will now shrink considerably near term.
In Norway , the week's most important release is the Q1 oil investment survey. Since oil prices began to fall in 2014, estimates of investment in the oil sector have been revised down continually.
However, we now think we are approaching a sea change, and that the estimates for 2017 will be little changed from November.
In Denmark , the Danish Debt office will tap the markets. We expect a tap in the new 10Y DGB bond.
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