Danske Markets

Euro surprises coming down, US surprises to head higher This should underpin a lower EUR/USD, higher US yields and give less cyclical tailwind to euro stocks vs. US German bonds might be an...

Market movers today The Eurogroup meeting starts today and focus will be on Greece. The parties are still some way from reaching an agreement and we do not expect a solution to the Greek issue at the...

In our view, the most probable result of next week's RB policy meeting is a rate cut (up to 10bp) and an extended QE-program for another month (up to SEK30bn). Admittedly uncertainties are great...

FX Quant Strategy provides a quantitative overview of the currency market, including several valuation tools and monitors, focusing on the FX options market. This week we recommend one FX option...

The release of retail sales in March was the last important set of data ahead of the first estimate for GDP growth in Q1 due out next week.Retail sales declined by 0.5% m/m in March. Excluding auto...

Euro area PMIs declined in April after having trended higher since end-2014. The manufacturing PMI declined to 51.9 from 52.2 in March (consensus 52.6) and the services PMI declined to 53.7 from 54.2...

Market movers today For the euro area we expect PMIs to continue to trend upwards, signalling stronger economic activity. For PMI manufacturing, the order-inventory balance strengthened in March and...

Last week, ECB expanded its list of agencies for the PSPP by another 10 names, increasing the notional amount of eligible debt by some EUR83bn. The amendment has little impact on the overall...

Today the Bank of England (BoE) released the minutes from its April meeting. The Monetary Policy Committee (MPC) voted unanimously in favour of keeping the Bank Rate and the stock of purchased assets...

We still expect Greece will remain in the euro although the intensified 'chicken game' between Greece and its creditors has implied an increasing risk of 'Grexit'. The current situation with...

Market movers today In the UK the minutes from the MPC's April meeting will be released. We expect that the committee voted unanimously in favour of keeping the Bank Rate and the stock of purchased...

Synthetic HY credit spreads widened significantly last week. The iTraxx Crossover index widened some 29bp over the week. Risk aversion suddenly spiked to an extent not seen since late January 2015....

With EUR/DKK currently close to the central rate of 7.46038, current liquidity in the money market and interest rates appear to be adequate. The bulk of economic forecasts predict the Danish current...

Credit spreads widened last week due to weaker sentiment and high primary issuance expectations Q1 reporting season kicks off with weak numbers from bellwether SKF M&A activity got another boost...

Market movers today • We expect German ZEW expectations for April to decline slightly after rising substantially since October last year on the back of ECB stimulus and better economic growth...

Nordea Hypotek is set to introduce a new long covered bond (NDH5531) that will mature on 8 April 2022. The coupon rate is set to 1% and the ISIN code is SE0006991246. The loan will be introduced in...