Danske Markets

Important Weekly Factos:Sideways credit spread movement despite spike in international rates.Surge in M&A volume from just a couple of deals.Statoil led corporate primary activity with its first...

Finland's GDP increased by 0.2% q/q in Q2 13 according to preliminary data. Working day adjusted GDP contracted by 1.2% y/y. Thus, after four consecutive quarters of decline, the Finnish economy seems...

Market MoversToday's main event is the ECB meeting this afternoon. In our view, there are fewer arguments for a rate cut today than a month ago, given recent upside surprises in economic indicators...

For commodities, the summer period has been dominated by China fears, a EUR rebound and heightened geopolitical uncertainty. However, on the whole, markets – apart from oil - have been...

Euro area periphery countries show faster-than-expected improvements and in line with that sovereign spreads have tightened. The outlook for the periphery has brightened and, for Italy, Spain and...

Market MoversWe expect no change to the final euro area service PMI, but look for some upside surprise in service PMI for Spain and Italy compared with consensus expectations. In terms of the second...

EUR/DKK has moved to being relatively stable below but close to the central rate and August marked the seventh consecutive month without need for intervention from Danmarks Nationalbank to support...

The euro area has finally moved out of recession, and at this stage pent-up demand could become a major contributor to a recovery. However, there is rather limited pent-up demand in private...

The ISM manufacturing index is likely to fall back a bit after last month's surge. We suspect that seasonal adjustments added almost two points to the index in July, and we expect the ISM to give...

A quantitative run through of the Swedish Fixed Income market, starting with the Riksbank and Money Markets before moving on to government and mortgage bonds. To Read the Entire Report Please Click on...

Buy SGBi3105, Sell SGBi3108 in real rate steepener. Open position at +77.5bp. Potential target at +100bp, stop at +60bp. Carry +15bp to December 1 given our inflation forecast. Steeper curves? Yes,...

This week the scorecard recommends buying SEK, NOK, and CAD, while selling NZD, JPY, and CHF (see suggested weights in portfolio in table below). Last week's sell-off in the two Scandinavian...

The latest IMM data covers the week from 13 August to 20 August. Speculators continued to add to long EUR positions in the week to 27 August - a week dominated by speculation of a US-led attack on...

There are fewer arguments for a rate cut today than a month ago. The economy is improving faster than the ECB expected, the decline in excess liquidity has slowed, and market rates have come down...

The conflict in Syria continues to be the main focus, but military action looks set to be delayed until 9 September (see more below). The developments in Emerging Markets will also continue to attract...

China's official manufacturing PMI released by China's National Bureau of Statistics (NBS) in August improved to 51.0 (consensus: 50.6, DBM 51.0) from 50.3 in July. The details were strong with new...