Danske Markets

New research from Danske Bank MarketsThe main event is expected to be the release of the minutes from the 18-19 June FOMC meeting. The message was surprisingly hawkish in the sense that Bernanke was...

The Bank of Japan (BoJ) meeting on Thursday should prove uneventful compared with the latest Fed, ECB and BoE meetings. We do not expect BoJ to announce any additional easing measures. The data...

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...

Book profit on sold payer 6M5Y EUR swaption. The position was established on 25 June (link). The payer swaption was sold for a premium of 119 ticks and is now bought back for 57 ticks. Even though we...

Pay 15Y15Y, Receive 2Y2Y EUR spread (vs 6M Euribor) Open ½ position @ 152bp with an option to open next ½ position @ 118bp Potential target @ 210bp, stop @ 97bp , Roll-down: 15bp in 3M,...

The calendar is somewhat lightweight, with U.K. industrial production figures the key event. U.K. data is in focus ahead of the all-important Bank of England meeting in August, when new governor...

In June, Japanese investors continued their position as extensive net sellers of foreign bonds for the second month running. The weekly data has so far not shown any sign of the sell-off in foreign...

We suggest selling a 1Y EUR/USD 1.22-1.32 call spread for an indicative premium of USD 590 pips (spot ref. 1.2858) to position for medium-term downside.The strategy has a breakeven spot rate of 1.2790...

This week the scorecard recommends buying JPY, NOK, AUD while selling USD, EUR, GBP.The input factors of risk premium and positioning continue to favour a long JPY position. The scorecard recommends...

Focus today will be on markets digesting Friday's strong payrolls out of the U.S. In light of what this means for Fed tapering its quantitative easing (QE) program. A first Fed hike is now priced by...

Buy SHYP1580, sell SGB1051/SGB1052Open position at +92.5bp. Potential target at +77.5bp, stop at +102.5bp. Carry and roll down (3M) +1.3bp/month. 5-year spread vs government bonds at 2013 highs After...

Policy was held unchanged from the meeting at the Monetary Policy Committee (MPC). Against usual practise, the MPC published a statement alongside the decision (see here) revealing two policy...

The ECB rate decision (13:45 CET) and the subsequent press conference (14:30 CET) are the highlights for today. Policy rates are widely expected to stay on hold, but ECB President Draghi may intervene...

In the light of the PGB sell-off we revisit the current crisis backstop facilities in this Q&A.Could the ECB's OMT be used to buy Portugal now? No - we don't think so even though the ECB's...

Summary and outlook In June, the global economy showed the first signs of a strengthening recovery after a period of softness. Global PMI new orders increased somewhat, and leading indicators showed a...

Forecasts for growth inflation and the repo rate were all almost unchanged compared to April's report. One piece of news is that the Riksbank has raised its estimate on NAIRU on the back of a larger...