Danske Markets

Headlines Credit indices dancing on the spot. High primary activity in SEK this week. Market commentary The credit market this week was rather uncertain. Continued worries about emerging markets were...

The global manufacturing cycle seems to have peaked in early 2014 as ISM/PMIs for the US, China and the euro area have all started the year on a weak note. In China, Flash PMI manufacturing for...

The main data releases are retail sales in the UK and existing home sales in the US. The data released so far suggest a substantial weather impact on the housing market in January, so there is...

The repricing of the Riksbank continues - receive FRAMAR-15. Our inflation forecast may appear low but we see it as a more unbiased estimate from an historical perspective than the Riksbank's. To...

Unrest in Ukraine turns violent It has been a terrible week for Ukraine, as demonstrations this week have turned violent with large numbers of both demonstrators and police killed. This morning's...

Manufacturing PMI declined to 53.0 from 54.0 (consensus: 54.0, DBM: 54.1), while service PMI showed a little increase to 51.7 from 51.6 (consensus and DBM: 51.9). PMIs indicate GDP growth around 0.3%...

The main focus will be flash estimates for PMI in the euro area starting with France and Germany this morning. We expect the euro-area composite PMI to have moved broadly sideways in February from the...

The flash estimate for Markit/HSBC manufacturing PMI in February declined more than expected to 48.3 (consensus: 49.5, DBM: 49.2) from a final reading of 49.5 in January. The details were mixed. New...

It is time for the first tap auction in the SGBi3109 since it was introduced a few weeks ago. Swedish BEIs have been trading higher than European peers (Germany) but after the CPI data release...

In the US the Fed will release minutes from the 28-29 January FOMC meeting. The speeches ahead of the meeting suggest relatively strong consensus on continuing the tapering course, but data since the...

Starting on Wednesday, February 19th (depending on market conditions), Kommuninvest will introduce a new loan (SE0005705621) matching SGB1047 and maturing on 1 December 2020. The coupon rate is set at...

Market movers today In the data calendar the main events are the ZEW indicator in Germany, CPI in the UK, and the NAHB housing market index and Empire. In line with our expectations for the PMIs on...

In FX Market Update: EM sell-off has eased - sell 3M the EUR/PLN straddle , 6 February 2014, we recommended selling a 3M straddle in EUR/PLN. The main motivation for entering this position was to take...

In last week's FX Forecast Update: February - sterling to shine in 2014, we kept our EUR/USD profile unchanged, thus still seeing the cross at 1.26 in 12M but stressed that risks are increasingly on...

The latest IMM data cover the week from 4 to 11 February 2014. IMM positioning data released last Friday showed that non-commercial FX positioning in the week to 11 February saw no large movements....

This week the scorecard recommends buying the CAD, AUD and USD while selling the GBP, NOK and JPY. All input factors currently favour a long CAD position and thus the scorecard recommends buying CAD...