Danske Markets

The past week has shown more strong data out of the US and Europe. For the equity markets, the data turned out to be a little too strong. Risk assets have been performing on a cocktail of signs of...

Time for a catch-up in Swedish (industry) data. The environment appears less supportive of longer mortgage bonds – we take a neutral view on a spread basis, even though we still think real...

For the near term, we maintain that Fed tapering will induce a structural USD uptrend. While over the summer markets have been pricing the forward guidance messages from central banks, we look for the...

Review Expectations of the Fed scaling down its asset purchases have been the main theme this summer and interest rates have increased significantly since the beginning of May. The recession in the...

Sell 5YSEP12, Buy Bobl SEP12 Open position @ +95bp. Potential target @ +105bp, stop @ +88bp. Carry (3M) -0.1bp per month. Swedish data lagging behind euro figures Some potentially important macro...

Market movers today In the euro area the trade balance for June will give insight into whether the end of the recession was driven by growth abroad. ECB will announce the weekly repayment of the 3Y...

The Polish economy remains weakFollowing the steady but marked decline in the Polish economy throughout 2012 and Q1 2013 (where growth was a disappointing 0.5% y/y), there are now signs of recovery....

Market movers today Today we get a lot of US data. The two early releases of regional PMIs for August - Empire and Philly Fed - will be watched for signals about where ISM should go from here after...

Today's release of euro area GDP will probably mark the end of six quarters of recession. Our hard data model suggests a 0.1% q/q increase. Following predictions from the Federal Ministry of Economics...

Today's most interesting release is US retail sales for July. We expect to see an increase in the core measure of retail sales (excluding cars, building materials and gasoline) of 0.3% m/m, as data...

The latest IMM data cover the week from 30 July to 6 August. The latest IMM data show that investors scaled back slightly on aggregated net long USD positions in the week that ended 6 August....

This week the scorecard recommends buying GBP, USD, EUR while selling JPY, AUD, CAD. All input factors currently favour a long GBP position. Notably, the technical indicator and the risk premium...

Market movers today Today we have a very thin calendar with Spanish house transactions being the most interesting release. The index is at a very low level reflecting that the Spanish housing market...

Market movers ahead With a bit of luck, new data should confirm that the recession in the eurozone ended in Q2 13.US retail sales, housing market data and consumer confidence should point to...

FX Market Update provides a quantitative overview of the currency market, including several valuation tools and monitors. Looking at the signals from our short-term financial models, we currently...

So far, 2013 has brought fairly good news for the developed economies of the world. Japan is seeing a fairly sharp recovery after the unprecedented monetary policy regime change, the US economy...