Danske Markets

Today the Swedish National Debt Office (SNDO) published details on the new 20y government bond. The bond, named SGB1056, will mature on 1 June 2023, and it will be introduced through a syndication in...

TradesProfit taken: BEI box, Buy SGBi3108, sell SGB1054 vs sell SGBi3105, buy SGB1049. We take the profit off 16.5bp but keep the short spread, see below.  Profit taken: Buy SHYP2MAR12 vs 10MAR12...

Euro area finance ministers set three conditionsAt the Eurogroup meeting last night the euro area finance ministers set three conditions that need to be fulfilled before the ministers will approve the...

Key newsEurozone Finance Ministers late Thursday decided to hold back aid for Greece until new austerity measures have passed the Greek Parliament.The tough stance on Greece has derailed the otherwise...

New QE buying strategy causes yield curve to steepenThe Bank of England announced earlier today that it will continue with its quantitative easing programme. Specifically, the Bank of England will...

EUR300m away from a dealAlthough negotiating through the night, Greek politicians did not reach an agreement on the required austerity measures. As they have now failed to meet about five deadlines,...

Today the newest real rate bond SGBi3108 will be tapped in a regular auction, the first one this year.  The relatively low demand in combination with a relatively strong SEK presents a new...

December data released this morning for UK Industrial and Manufacturing Production and for the Trade Balance suggest a small upward revision in GDP estimates may be warranted, but the headline trade...

Inflation in January accelerated markedly from 4.1% y/y to 4.5% y/y, but this appears to be solely due to seasonal distortions from the Chinese New Year holiday.  A continued decline in producer...

The big deal this month is the ECB’s 36-month LTRO with allotment on 29 February. We expect the Governing Council to wait for the outcome of this operation before they decide whether more...

Key newsThe Greek coalition government has failed to agree internally on the  Troika’s demands ahead of today’s crucial EU meeting. This could mean a Greek default in March.Chinese...

Denmark is the 18th richest country in the world measured by GDP per capita (purchasing power parity-based) in 2010. During the financial crisis in 2008/09, the Danish economy was hit hard....

The market has scaled back expectations of rate cuts of late, both for the February meeting, where currently 16bp is priced in, and for the year, some 60bp compared with about 85bp at the peak few...

Key newsIn Greece party leaders’ approval has been postponed once again, but a deal appears to be close after opposition to minimum wage cuts was reversed.ECB  would be willing to give up...

Key newsIt has been a fairly calm night with positive sentiment after the release of upbeat global manufacturing data yesterday.In the Asian session several  trades on the Nikkei stock exchange...

China’s NBS manufacturing in January beat expectations and improved slightly from 50.3 to 50.5. The details are relatively strong with the new order inventory balance continuing to improve. So...