Danske Markets

It is time to start fading the long-end driven fixed-income rally. Fed hikes are drawing closer, growth is picking up and positioning has become more square following a short squeeze in long-end USD...

Global risk sentiment took a hit this week as US stock markets nose-dived towards the end of the week. Following a strong run since mid-May, US stocks were prone for a correction and it seemed the...

Market movers today The US employment report and ISM manufacturing will wrap up a busy week. We look for a rise of 250k in total payrolls, a bit higher than consensus of 225k. Jobless claims and...

New sanctions to weigh further on Russian economy On Tuesday 29 July 2014, the European Union and the US introduced new sanctions on Russia. We believe these new sanctions will worsen sentiment...

Weak data have added to the pressure from low inflation.We close two of our recommendations. We remain long duration but mostly at the short end of the Swedish yield curve.TradesProfit taken. Buy...

Close position to receive 4Y5Y USD versus paying 4Y5Y EUR swaps USD/EUR. We record a 37.5bp loss on a ½ position opened on 23 December. Right view, wrong implementation Unfortunately, this...

We expect euro flash CPI for July to reach a new cycle low at 0.4% y/y (consensus 0.5% y/y) down from 0.5% y/y in June. Releases out of Germany and Spain yesterday showed a decline to 0.8% y/y (from...

In the statement today the Fed made a change in a more hawkish direction by changing the language on both the labour market and inflation in a slightly more positive direction. Also, Fed member...

The ECB lending survey for Q2 provided some encouraging news for the euro economy. For the first time since 2007 lending standards were eased for all sectors (consumers, enterprises and housing) and...

Market movers today Main event will be the FOMC statement tonight (no press conference or new projections at this meeting). We expect a slightly more positive tone on the labour market in line with...

We expect the Fed statement on Wednesday to have a hawkish twist while eurozone July CPI due on Thursday falls to 0.4% y/y. Diverging US/eurozone monetary policy and waning portfolio flows into the...

At the recent semi-annual testimony, Fed chairman Janet Yellen turned less dovish by saying that 'if the labor market continues to improve more quickly than anticipated by the Committee, resulting in...

Market movers today Main event today will be a meeting between EU ambassadors aiming to close a deal on so-called phase 3 sanctions against Russia that involves the financial, defence and high-tech...

This week the scorecard recommends buying NZD, AUD and CAD while selling GBP, NOK and SEK (see suggested weights in portfolio in table below) . Last week's signals resulted in a 0.27% loss. To Read...

For the fifth straight month Danish investors net purchased both foreign shares and bonds. Foreign investors further increased their portfolio of Danish shares and also net purchased Danish bonds...

The latest IMM data cover the week from 15 July to 22 July 2014. Speculators increased their short EUR positioning to the highest level since November 2012, in absolute terms. As of Tuesday 22 July,...