Danske Markets

Probably higher inflation and estimates in March. SGB1047 now zero yielding and looks dear on the ASW curve. To Read the Entire Report Please Click on the pdf File Below

As we expected, the Monetary Policy Committee (MPC) voted to maintain the Bank Rate and the stock of purchased assets at 0.50% and GBP375bn, respectively. When the minutes are published on 22 March,...

StrategyThe USD rally paused following the March Fed meeting, as the FOMC voiced concern over the recent downside surprises in US data. We think the time has now come for another leg lower....

We expect, no change or new signals on policy at upcoming ECB meeting. Instead, we expect the following to be in focus at the meeting: Dovish stance from Draghi - but with limited market impact ECB...

Market movers today In terms of data releases, today is set to be a quiet day. German industrial production will be released this morning - we expect it declined 0.3% m/m in February. Industrial...

The amount of new information in the FOMC minutes was limited. However, they did confirm that there is quite a large disparity of views between individual FOMC members on the necessary conditions for...

The Bank of Japan (BoJ), as we expected, announced no new easing measures in connection with the close of its two-day monetary meeting this morning. The target for the annual expansion of the monetary...

Market movers today This morning German factory orders for February are due for release and we expect an increase of 3.0% m/m after a quite weak print in January. Our forecast is above consensus of...

In March the FX reserve was DKK737.1bn which was DKK0.1bn higher than in February and Danmarks Nationalbank (DN) did not intervene in the FX market. Lack of intervention indicates that the bar for DN...

Last week was rather quiet on the Nordic markets due to Easter. The week started on an upbeat note, reflected in a 9bp tightening in the iTraxx Crossover. According to S&P the issuance of...

IMM positioning data released on Friday revealed that investors slashed their bearish JPY bets, sending non-commercial positioning to the 44th percentile - the least bearish level since October 2012....

Banks' senior spreads under pressure as Germany published a law proposal on bank resolution Weaker than expected US labour market report Iran and the P5+1 world powers reached a framework agreement...

This week the scorecard recommends buying EUR, NOK and CHF while selling NZD, CAD and JPY. Last week's signals resulted in a 0.1% loss. Especially the long CAD position performed well. However, gains...

Market movers today In Europe, the focus today will be on services PMIs. In the euro area, the most interesting will be the first estimates in Italy and Spain. In light of the upward revisions to...

The 2 April framework agreement between Iran and the P5+1 has raised the prospects of a final accord being reached on Iran's nuclear deal before 30 June and a removal of sanctions on Iran's oil...

Nonfarm payrolls increased 126,000 in March, so a clear give back from the previous month's strength. Private payrolls increased 129,000 and government employment declined 3,000. The net revision to...