Danske Markets

Market Movers The US markets are closed today ahead of July 4 and with only tier-2 data releases in the calendar, Greece is likely to be at the centre of attention ahead of the referendum on Sunday....

The Danish FX reserve fell to DKK626.3bn in June on the back of DKK33.5bn in FX intervention by Danmarks Nationalbank (DN). Since April, FX intervention has totalled DKK102bn - we expect the outflow...

The June employment report was overall slightly on the weak side of expectations. Another 223,000 was added to US employment in June and the unemployment rate declined two notches to 5.3% . However,...

Big surprise from the Riksbank.We keep all our recommendations for the moment.SEK implications.TradesNew levels, we keep the fly in which we buy 5y government bonds and pay in 2s and 10s in a barbell....

On Monday 6 July, Danske Bank Markets will host a conference call for clients to discuss scenarios for Greece and market implications . The speakers will include the following: Thomas Harr, Global...

Market Movers Today's key data release is the US employment report for June (note that this is out on a Thursday due to the US bank holiday tomorrow ahead of 4 July). As long as there is no...

Receive 2y1y @ 67.25bp. Roll down: +4.5bp/m. Profit/Loss: 45bp/85bp. Our base case for tomorrow's Riksbank policy announcement is an unchanged repo rate. However, this does not mean that there are...

Market MoversGreece remains at the top of the agenda. Today focus is likely to be on a) how creditors and ECB will respond to the missed IMF payment and expiry of the bailout programme and b) updated...

Denmark's net foreign assets (NFA) increased to DKK972bn or 50% of GDP in Q1 this year - up DKK300bn, or 14% of GDP, since Q1 last year. The strong external position looks like prevailing for the...

New research from Danske Bank Markets Our main scenario is that the Riksbank will be on hold on Thursday. However, there are two factors that could make the Riksbank cut the repo rate by 10-15bp...

Market Movers Focus still on Greece. Opinion polls released ahead of the referendum on Sunday are at the centre of attention together with the ongoing battle between the 'yes' and 'no' camp. Greece...

Yesterday, the downside to credit spreads materialised following the adverse development in the Greece restructuring talks, after a weekend where the Greek Prime Minister suddenly (and surprisingly)...

An interview with NY Fed President Dudley (printed in the FT (se link in attachment) on Sunday but conducted on Friday ahead of the announcement of the Greek referendum) gives a good indication in our...

Trading update shows momentum maintainedSkyepharma’s Q215 trading update shows progress is continuing as expected. flutiform is growing in-market sales as forecast, with further roll-outs into...

This week the scorecard recommends buying SEK, NOK and CHF, and selling NZD, USD and CAD. The recommendation to buy the Scandies and the Swissie derives largely from last week's dire performance...

Watch the DKK and SEK as the key indicators for monetary policy and rates in Sweden and Denmark. There is a risk for a renewed flight-to-quality into Scandinavia, but not to the same extent as in...