Danske Research Team
Danske Bank A/S
Market Movers
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No major economic data out of Europe today and no rating reports on EU sovereign bonds tonight.
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Focus will be on a string of US economic data. We will be looking at the industrial production data and whether the rebound in ISM is visible in the data. Note though, that manufacturing production actually rose in both January and February despite the very weak ISM.
Selected Market News
Sentiment in the US equity market yesterday was mixed with only very modest gains in the Dow and S&P500. This was driven by a mixed corporate earnings picture, decline in commodity prices as oil slipped, together with a stronger dollar. US inflation rose less than expected supporting the picture of the Fed being on hold.
The sentiment in the Asian markets has also been mixed this morning although the Chinese GDP data for Q1 showed that growth was 6.7% for Q1. This was in line with the forecast and together with the recent export data as well as the industrial production, retail sales and investments also released this morning, it indicates that the growth is likely to have bottomed out in the Chinese economy. See more here Flash Comment Chinesedata confirms signs of recovery, 15 April 2016.
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