Danske Markets

In terms of data releases there is a relatively thin calendar today. Spanish house prices could attract some attention on a day with few other relevant releases. Spanish house prices are down close to...

The mid segment (5y) of the nominal bond curve has continued to be bid. This has resulted in market implied expectations we doubt reflect real anticipations. We repeat our earlier recommendations to...

Central bank communication is currently the main market driver. Fed chairman Bernanke will repeat yesterday's testimony - this time in front of the Senate (see below). The session will include a...

As one of our FX Top Trades published on December 5, 2012, we suggested selling USD/CNH 12M forward to position for a continued appreciation of CNY. The rationale for selling the offshore CNH instead...

The main event is Bernanke's semi-annual testimony to the Congress where focus will be on hints about when the Fed will start scaling back its bond buying. While the statement may not add much new...

The U.S. figure is of particular interest ahead of Bernanke's semi-annual testimony to the Congress tomorrow. Last week's Fed minutes revealed that many participants 'worried about the low level of...

Money market rates with longer maturities remain higher before the money market stress that started in June, which emphasized that China could be facing de facto tighter monetary conditions if money...

The latest IMM data covers the week from 2 July to 9 July. Speculators turned USD bullish ahead of last week's FOMC minutes and Bernanke's dovish comments . While still somewhat below the peak seen...

The gap in which forward guidance leaves monetary policy in the U.S. versus the U.K. and the euro area, we have pencilled in further downside in EUR and GBP versus USD. We expect the ECB and the Bank...

This week, the scorecard recommends buying AUD, NZD and USD while selling NOK, SEK and GBP.Australian interest rates continue to underperform (declining rates) on the G10. However, last week's...

GDP growth in Q2 13 eased to 7.5% y/y from 7.7% y/y in Q2, broadly in line with expectations. The data released for June last week and this morning on balance have been weaker than expected,...

In the U.S., several FOMC members are scheduled to speak and might add something to Bernanke's recent dovish comments. James Bullard (voting dove) and Charles Plosser (non-voting hawk) will be...

S&P has this morning revised its outlook on Ireland to positive. S&P kept the rating unchanged at BBB+, which is one notch above Italy (following the downgrade this week).The motivation behind...

In this document, we investigate the relationship between oil prices and the equity market. For the past decade, it appears equities and oil prices have related positively, contrary to the classical...

In the US several FOMC members are scheduled to speak and they might add something to Bernanke's recent dovish comments. James Bullard (voting dove) and Charles Plosser (non-voting hawk) will be...

June figures confirmed that inflation bottomed The Fed, the ECB and the bank of protocol Searching for opportunities in the aftermath of market turbulence Trades New: we recommend buying SGBi3107...