Danske Markets

Danish central bank mirrors ECB - a positive moveYesterday, the ECB introduced two unlimited LTRO (longer-term refinancing operations) liquidity programmes with 36-month tenors (with the option of...

Global• Following a bit of a slow week in US markets, quite a few interesting events are on the agenda next week. On Tuesday, the last FOMC meeting of the year will be held. We do not expect any...

• With inflation poised to drop sharply and increasing downside risk to growth, we expect the pace of appreciation of the CNY against the USD to slow to around 3% over the next year, from more...

The small ‘rally of anticipation’ seen in the weeks leading up to the ECB and EUmeetings at the end of the week came to a stop after the ECB said it would not step up its bond buying...

Key news Risky assets took a dive yesterday as the ECB meeting set the tone for the day. EU leaders have adopted the measures proposed by France and Germany. Chinese inflation has fallen back,...

• As expected, the ECB reversed its summer hikes by cutting interest rates by another 0.25 %, bringing the refinancing rate back to 1%. It seems that a 0.5% rate cut was not even discussed. We...

Macro outlookWhile the market’s attention is still firmly fixed on the European debt crisis and, in particular, tomorrow’s European Summit, the EMEA calendar for next week sees a number of...

Key news Merkel and Sarkozy call for treaty changes to restore investor confidence US stocks posted moderate gains after a volatile trading session Risky assets are trading lower in Asia this morning...

The unwinding of “risk-off” trades ahead of this week’s ECB meeting and EU summit has the potential to support risk assets. We expect a fairly strong response from the ECB and...

Key newsThe news flow overnight continued to centre on the developments in Europe. According to FT EU negotiators are discussing doubling the euro area’s rescue funds.Timothy F. Geithner, US...

We expect the ECB to continue its easing bias and deliver another 25bp rate cut on Thursday. Anything less would be a major surprise. The economic situation in the euro area has deteriorated notably...

May is a lifetime awayIn May,  a third of the Monetary Policy Committee  (MPC)  voted in favour of a 25 basis points rate hike. Inflation was more than twice the Bank of England’s...

Key newsS&P put the long-term sovereign debt ratings of 15 euro area countries on negative watch - the six AAA countries are among these.The plan from Merkel and Sarkozy presented yesterday...

This month the OMRX index is set to be rebalanced twice. On December 9, at closing, an ordinary monthly rebalancing will occur. On December 14, the index will be altered to reflect the removal of...