Danske Markets

Key news The conservative party Partido Popular won the general elections in Spain. This is likely to be slightly positive for the Spanish markets, but market sentiment in general remains...

In this note we focus on the lower bound of the European and Danish money market rates, given the outlook for the ECB and the Danish central bank. Our economists expect that the ECB refi-rate will...

Sovereign debt markets under increased pressureThe European rescue efforts have so far failed to stabilise the financial markets. The ray of light resulting from the French-German pledge of a...

Even solid AAA lose grounds to GermanyThe debt crisis keeps worsening. ECB buying continues to be reluctant and during this week Italian and Spanish 10-year bond yields have been flirting with 7%...

Massive confidence crisis hitting the euro marketsFocus remained on the euro crisis this week as problems in the Italian bond market continued and contagion spread to Spain and France. Even countries...

• US markets will be closed for Thanksgiving on Thursday next week. Data for core PCE is due on Wednesday. As the Fed’s preferred inflation measure, we will look to this to see whether...

Market comment:The debt crisis continues and Italy remains the biggest worry as sovereign yields continue to stay at very elevated levels despite the ECB buying sovereign debt during the week. The...

The European rescue efforts have so far failed to stabilise the financial markets. In our view, the ECB is the only institution able to alleviate the market stress. This is already apparent from the...

Key news Negative sentiment continues to dominate the global equity markets on the back of the EU debt crisis, while flight-to-quality is driving the global bond markets. Modest movements in the...

As the ECB currently tries to help PIIGS countries by keeping yields on government bonds down, it does so via the securities market programme (SMP). Rising rates on government bonds of course...

Central Bank of Russia is expected to keep rates on holdGlobal uncertainty remains high, but the Russian economy has continued on a steadygrowth path. In addition to this, credit growth continues to...

Spanish yields continue to rise ahead of today's 10-year auction. Lithuania's fifth largest bank was nationalized yesterday. Fitch issues warning about contagion of the European debt crisis to the US...

As expected, the Bank of Japan (BoJ) did not announce new easing measures in connection with today’s monetary meeting. However, in its statement it said that the recovery following the...

EUR/USD downside risks have increased significantly over the past month. Not only on the back of sharply higher funding costs in southern Europe, but perhaps more importantly as a result of a...

Key news The European debt crisis escalates further and there was strong pressure on core triple-A countries like France, Austria and the Netherlands yesterday. The debt crisis seriously dents the...

ReviewSentiment has remained very nervous over the past month. The EU summit package agreed in late October has so far failed to stabilise the markets. Periphery bond yields have risen further, while...