Danske Markets

The most spectacular move in positioning since the start of the year has been the massive unwinding of CHF longs and this continued last week. These flows have most likely benefited the eurozone as...

This week the scorecard recommends buying AUD, JPY and EUR while selling CAD, GBP and NZD. Last week's AUD sell-off seems overdone according to the model, and for the sixth consecutive week, the...

Market movers today The US markets are closed due to Martin Luther King day. With no significant data on the calendar either it is likely to be a quiet day. Italy releases industrial sales and...

On Friday evening after the US close Moody’s finally upgraded the Irish sovereign rating by one notch to Baa3 (investment grade) from Ba1 (non-investment grade). Furthermore, Moody’s put...

In response to the rapid decline in euro inflation over the past year, bond markets are now starting to question the ECB’s ability to deliver 2% inflation any time soon. The 10-year euro...

Headlines Supportive start to the year for credit. 2014 credit strategy: ‘A recovery to carry us’. Nordea gets approval for IRB model in the Nordic region by the four Nordic FSAs. ...

We present Commodity Trends 2014, which includes five themes to drive the markets this year:Theme 1: geopolitical risks abatingGeopolitical risks are abating as momentum is growing in the negotiations...

Market MoversUS housing starts and building permits should give us a better idea of a possible bad weather impact in December as suggested by the disappointing labour market report for December....

US housing starts and building permits should give us a better idea of a possible bad weather impact in December as suggested by the disappointing labour market report for December. Particularly...

Market Movers ahead Eurozone PMI may struggle to climb higher but already indicates decent growth. We expect consumer confidence to continue to rise. A lot of important data is due out in China -...

TCMB acts to curb lira sell-offThe still-unfolding corruption scandal in Turkey has put Turkish markets under very serious pressures - including the Turkish lira, which has plummeted. The lira had...

Yesterday we closed our 1y 2y SEK-EUR tightener as we reached our revised stop from 19 December. We close the trade at 96bp (generic dated trade 100.3bp).We opened the trade 13 November in...

Market movers today In the data calendar the main event is US consumer prices for December. We expect inflation to accelerate to 1.5% y/y from 1.2% y/y mainly on the back of higher food prices. US...

We have upped our near-term EUR/USD outlook a little. Strong peripherals performance and the outlook for less imminent easing from the ECB make the case for an EUR downside less strong on a 3M...

Market movers todayIn Germany the first GDP estimate for 2013 as a whole will be released, and indirectly this should also give us the first estimate for GDP growth in Q4. Recent hard data have been...

After seven years of famine, a more sustainable, albeit frail, recovery is coming. With fundamentals on the up, stabilising issuance volumes and monetary authorities supportive, we see slightly...