Danske Markets

In our view, the Riksbank is unlikely to cut next weekWe look at the main drivers behind the 10Y spread versus Germany, which is trading at the highest levels seen since 2004.To Read the Entire Report...

The ECB struck a dovish tone in its statement and press conference Thursday. It is becoming a master of verbal intervention as it managed to dampen recent de facto tightening without taking any action...

CNB's hawkish comments surprised us and not only usIn a surprising move this week, the Czech central bank managed to reverse the direction of its monetary policy. At the monetary policy setting...

A bit of nervousness has returned to the global stock markets ahead of today's important monetary policy meeting in the ECB and the Bank of England. US stock markets ended slightly down in yesterday's...

January and the first day of February were quite extraordinary for the euro. During this period the euro gained against all of the 32 biggest currencies in the world. The euro gains seen this year...

We expect the Bank of England (BoE) to remain on hold at Thursday's Monetary Policy Committee (MPC) meeting (13:00 CET). Any policy changes on Thursday would be a surprise. All analysts surveyed by...

We expect the ECB to keep rates on hold and abstain from introducing new measures. The main reason is that we see more and more signs that the economy is about to recover and that perceived tail risks...

Bank of Japan governor Masaaki Shirakawa will step down early. This has boosted Japanese shares and sent the yen to a three-year low as the markets price in that the new governor will be more dovish...

The Fed’s January Senior Loan Officer Survey covering the three months to end-January showed that banks have continued to ease lending standards on virtually all types of loans. Demand for loans...

Our mid-term view is steeper curves stemming from higher long-dated yields. The political uncertainty in Spain and Italy has, however, set the stage for a rebound in rates. Our case is that the term...

US and Asian stock markets have dropped on the back of increased political worries in Spain and Italy. European shares saw major corrections in yesterday's trade.The euro has been hit by the renewed...

From 30 January banks have been allowed to repay the ECB the EUR489bn borrowed in the 3Y LTRO of December 2011 and from 27 February they will be able to repay the EUR521bn borrowed in the second 3Y...

The latest IMM data covers the week from 22 January to 29 January. LTRO repayment supports the euro: The latest IMM data covers the Friday when 278 European banks surprised the market and repaid...

China's service PMI rose but details are mixed.Stock markets continue to set new highs. Same goes for EUR and JPY.Bond yields rose sharply in late US trading.Little news this week - focus on ECB...

The January employment report was mixed but markets seem to be focusing on the uptick in the unemployment rate to 7.9% and have scaled back expectations on the first Fed funds rate hike.Job growth was...

Market Movers aheadThe ECB will almost certainly keep rates unchanged on Thursday. It will be interesting to hear how the ECB views the LTRO repayment (normalisation or de facto tightening) and the...