Danske Markets

We expect only small changes to the FOMC statement and most importantly we expect the statement to repeat that the FOMC can 'be patient in beginning to normalize the stance of monetary policy'. This...

One of our top ideas for 2015 was to receive 1Y1Y EUR/USD CCS. The trade was opened on 3 December @ -0.19% and has moved down to -0.345%. We book a profit of 15.5bp. We based the trade on the view...

Market movers today There's a number of tier-2 data on tap today. UK GDP for Q4 is expected to rise 0.6% q/q in line with consensus following an 0.7% q/q rise in Q3. It leaves the annual rise at...

Over the past couple of weeks we have witnessed a stabilisation in the oil price - Brent has range traded around USD48-50/bbl. Changes in speculative positioning, beginning consolidation in non-OPEC...

Market movers today Markets will be digesting the results of the Greek election. On the data front focus turns to the German Ifo index for January. We look for a stronger-than-expected increase to...

We take a closer look at the implication of the ECB QE for the Riksbank. In the short term - i.e. concerning the decision in February - we believe that the board feels quite at ease and without...

ECB opens the floodgates for negative yield curves. The Riksbank can relax, at least in February. The hunt for yield intensifies, while BEI spreads receive support. To Read the Entire Report Please...

Market movers ahead In Greece, anti-austerity party Syriza is poised to win the general election and Greece faces higher uncertainty and volatility. Inflation is expected to have dropped further...

The lower oil price will send US headline inflation into negative territory already next month. Real spending power is getting a substantial boost. Private consumption is set to post the best...

So, Mario Draghi did it again. Not only did he manage to get his own way and launch a surprisingly large asset purchase programme of around EUR1,100bn, overruling German opposition, but he also...

The flash estimate for the HSBC/Markit manufacturing PMI in January improved slightly to 49.8 (consensus: 49.5, DBM: 49.6) from a final reading of 49.6 in November. This is the first improvement in...

The ECB has again surprised the markets by announcing an open-ended QE programme of monthly purchases of EUR60bn. Very importantly, the ECB will continue asset purchases until it sees an improvement...

The ECB Governing Council has announced its first QE programme, as it has decided to purchase EUR60bn of public and private assets per month.Very importantly, the ECB purchases will be open-ended as...

Market movers today After yesterday's bold move by the ECB in which Draghi announced a long-awaited QE programme, focus will be on digesting and assessing the details. Otherwise it is Big PMI Day....

Market movers todayWe expect the ECB to announce government bond purchases of EUR750bn today. This would be slightly positive for the market, where consensus for purchases seems to be building...

An ECB government bond purchase programme to put downwards pressure on EUR/DKK and force reaction from Danmarks Nationalbank. This will result in a higher DKK liquidity, an increase in banks' net...