Danske Markets

QE figures for November showed monthly German PSPP purchases in line with the previous month (EUR11.5bn). The monthly purchases in November fully reflect the new QE horizon (until end September 2018)...

EUR/SEK - a 'housing risk premium' has (fairly in our view) hit the SEK and we expect the cross to do a new test of 10.00 near term.EUR/NOK - expect stabilisation but the NOK leg remains vulnerable in...

Market movers today In the EU, ongoing Brexit negotiations will be in focus today, where the UK's Theresa May is set to have lunch with EUs Jean-Claude Juncker. In the US, an agreement on tax reform...

We have marginally raised our inflation forecast for 2018 due to higher energy-price inflation, but inflation pressures will still decelerate and energy-price inflation will continue to be a drag from...

We have just published our semi-annual Big Picture including our updated economic outlook for the global economy (US, euro area, UK, Japan, China and emerging markets).2017 is set to be the best year...

The latest IMM data covers the week from 21 November to 28 November 2017To read the entire report Please click on the pdf File Below:

In Sweden , industrial orders and production and service production for October will give clues to how Q4 growth started out.The Swedish Debt Office releases the November borrowing requirement. In...

In the US, we expect to see a catching up effect for non-farm payrolls in November. We expect an increase of 195,000 driven mainly by the service sector.Brexit remains in the spotlight, as the EU says...

A calendar of key events in the Commodities Market for the next week.To read the entire report Please click on the pdf File Below:

Today is the big PMI manufacturing day. We have the preliminary November prints for euro area and the US already, but today will get the final prints. More exciting perhaps are the same indices for...

Tougher amortisation requirement gets green lightApartment prices in Stockholm under pressure in November Move from SGB1054 (June 2022) to SGB1057 (November 2023) Housing market may challenge SEK...

OPEC+ agreed to extend output cuts by 9M with Libya and Nigeria joining the deal, which is set to be reviewed in June.The oil market was left disappointed by the risk of OPEC+ ending cuts prematurely...

US curve flattening continues - and we look at possible explanations.We believe the factors that have driven the flattening, including expected market pricing of more Fed hikes in 2018, in a low...

Market movers today After some quiet days (at least in terms of economic data releases), we have a more action packed day ahead of us. We estimate euro area HICP core inflation rose to 1.1% y/y in...

The Federal Reserve in 2018 will present the least experienced Board of Governors in 30 years.We find evidence of a 'Fed experience premium' on USD over the period since 1973. Hence, the change at the...

Focus turns to DKK liquidity in Q1 18, when the risk is for another large pension return tax payment and thus somewhat tighter DKK liquidity.Thus, we see downside risk to our base case for EUR/DKK of...