Danske Markets

We saw tighter spreads in the European high yield market. The 5Y iTraxx Crossover tightened marginally. In very thin secondary trading the Nordic HY cash market (measured by our Nordic HY index) ended...

Market Movers Today's main event is the publication of minutes from the FOMC-meeting on 28-29 April. In the statement from the meeting the Fed said that the slowdown in Q1 was partly transitory, so...

A quantitative run through of the Swedish fixed income market, starting with the Riksbank and money markets before moving on to government and mortgage bonds. To Read the Entire Report Please Click on...

UK now in deflation but only temporarilyUK CPI inflation was in deflation in April as the annual growth rate in the consumer price index fell to -0.1%, down from 0.0% in March (Danske Bank: 0.1% y/y,...

Market Movers We look for a significant rebound in US housing starts to 1055K (+13.9% m/m) in April after subdued sales in February and March (which we believe were partly caused by unfavourable...

European credit indices were drifting sideways during range-bound trading last week. Long-dated rates continued their volatile trading, with 10-year bunds closing at 0.62% yield, up from 0.53%. ...

Over the past few months, the Riksbank has repeatedly made it clear that tolerance for negative (low) inflation surprises is very small and that it is ready to act again, even between regular policy...

On Wednesday 20 May, the SNDO will introduce the previously announced new 10Y loan SGB1059. During the following four business days, switches against SGB1058 (May 2025) and SGB1057 (November 2023)...

The latest IMM data covers the week from 5 May to 12 May 2015. The USD index fell for the fifth consecutive week after Wednesday's disappointing retail sales and Friday's very weak University of...

This week the scorecard recommends buying GBP, USD and JPY, while selling NOK, SEK and EUR. Last week's signals resulted in a 0.8% gain. Especially the long EUR and CHF positions performed well,...

Market Movers We expect the Swedish Riksbank to cut the repo rate by 10bp today at its non-policy meeting and see a risk of a larger cut. In terms of data, the calendar is light with only the US...

Market movers today In the UK we will get more information about economic development in Q1 as March figures for construction output are released. We do not believe that the numbers will lead to a...

US retail sales for April were weak. Control retail sales (excluding gasoline, autos, building materials and food) were flat and sales excluding autos and gasoline were up only 0.2% m/m. Headline...

Overall, the Bank of England (BoE)’s Inflation Report in May came out broadly as we expected. Hence, we still expect the BoE to hike in November as the Bank projects inflation to pick up and...

Euro area GDP growth improved slightly to 0.4% q/q in Q1 in line with consensus but below our forecast. Compared to Q4 14, when the economy expanded 0.3% q/q, the higher GDP growth is mainly the...

EUR/NOK: We expect EUR/NOK to edge higher in the coming month on more monetary-policy easing being priced in ahead of the Norges Bank decision on 18 June. After the latest significant rise in oil...