Danske Markets

The jobs report for December was on the hawkish side for the Fed, due to a combination of higher wage growth and a fall in the underemployment rate (a broader measure than the headline unemployment...

With little in the way of major data releases on the agenda in the coming week, politicians and central bankers may steal the limelight.It is still very unclear how and when the incoming...

Global recovery and reflation gain momentum with strong PMI numbers and euro inflation prints this week.However, US yields have peaked for now, while the European curve will steepen. Turbulence in...

The December jobs report is due out today. We estimate job growth was around 170,000 in line with the recent trend. The unemployment rate fell to 4.6% in November, the lowest level post-crisis....

We see further upside for both 10Y Bund yields and 10Y US Treasury yields on a 6M to 12M horizon. We expect the market to price in an ECB tapering premium and the focus on 'reflation' to continue and...

USD/CNH has seen the biggest two-day decline since CNH trading started. The main reason is likely to be a significant squeeze of short positions as China has pushed up the cost of selling CNH by...

Denmark: from crisis fears to risk of overheating The recovery looks set to continue in coming years, but keep an eye on the labour market.Sweden: the business cycle - dead or dormant? Growth is set...

In the US, the ADP employment and initial jobless claim figures will attract some attention ahead of the important December jobs report, which is due out tomorrow. Moreover, the ISM non-manufacturing...

PMI data showed further strength in the Chinese economy at the end of 2016. However, we look for a peak in growth soon and forecast a moderate slowdown in 2017. Policy is now de facto being tightened...

The FOMC members think the economic outlook is very 'uncertain' until we get more information about President-elect Donald Trump's actual economic policy.'Almost all' FOMC members think there are...

Euro area inflation increased to 1.1% y/y in December which is the highest rate since September 2013 . The rise in inflation was mainly driven by energy and food price inflation, which together...

Valuation, economic growth and real rates support a short EUR/NOK positionWe see Q4 16 NOK headwinds fading, including year-end seasonality We recommend selling EUR/NOK 12M forward outright as a...

ECB QE tapering speculation is likely to be boosted in coming months, as euro area inflation is set to pick up considerably but we do not expect the ECB will announce tapering in 2017.We expect the...

The FOMC minutes from the December meeting are due to be published tonight. It will be interesting to see what discussions the members had about the outlook for 2017, as the Fed was more hawkish than...

In April and May this year the French presidential election will be held, which is expected to be a tight race between Fillon from the centre-right Republicans and Le Pen from the far-right Front...

The UK has been remarkably resilient to Brexit uncertainties, but we think growth will slow this year. However, we stress that the uncertainty surrounding our forecast is higher than usual due to the...