Danske Markets

The US election could be a major market theme in the autumn.A Trump win could lead to ballooning US public debt level and is likely to be USD bearish. Over the medium-term, the German bond curve could...

We are short EUR/SEK from 9.60 and see further downside potential.However, August inflation next week poses a short-term risk. To protect the position, we have decided to trail the stop from 9.75 to...

Producer price deflation has come to an end, supporting profits and thus Chinese equities.To read the entire report Please click on the pdf File Below

There are relatively few data releases due today. Hence, the market will probably be digesting the implications of the ECB meeting yesterday.In the UK, construction output figures for July are due...

Why is our inflation forecast so low?The next Riksbank trade is the spread covered bonds - government bonds. To read the entire report Please click on the pdf File Below

The ECB kept all policy rates unchanged, maintained its monthly QE purchases of EUR80bn and still intends to end its purchases in March 2017 . The ECB repeated that it 'continues to expect the key ECB...

We think short-term risks are skewed towards a weaker NOK.Markets are too complacent in terms of Norges Bank - we are less bullish on oil. We take profit on our risk reversal and book a 0.29%...

With a rather light calendar of data releases, today's main event is the ECB meeting. We expect it to remain on hold. The ECB has stressed that more data is needed before the growth and inflation...

view, this autumn’s Riksbank trade with best risk/reward is the yield spread compression trade, buying the 5Y covered bond and selling the 5Y government bond (note that this can be done in bond...

A likely QE extension (in October or December) implies that the ECB will be confined by its technical restrictions, making it difficult to proceed with purchases in all sovereigns - including Germany...

Today, in the US, the Fed's Beige book is due to be released.In the euro area today, the German industrial production figures for July are due to be released. German industrial production is...

Today, we have a thin calendar in terms of global data releases. However, focus in the US will be on the ISM non-manufacturing index for August. In recent months, the two different PMIs for the US...

Overall, European credit indices have been trading range-bound during the past week, with the European main and cross over indices being broadly unchanged compared to last week. Thus, iTraxx Main...

The QE purchases were reduced to EUR60bn in August due to the expected summer slowdown. Looking ahead, we expect QE purchases to increase to around EUR85bn the next three months due to frontloading...

The GBP has rallied substantially over the past few weeks, driven by stronger UK data.While data indicate that the UK might avoid recession, we think that risk/reward with only a 5bp Bank of England...

Today, focus in the euro area will be on the retail sales figures for July and the Sentix Investor Confidence. Retail sales increased 0.4% m/m in May, with a 0.0% m/m change in June. Post the Brexit...