Latvian unemployment has continued to rise

EMEA Daily

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Review

Latvian unemployment has continued to rise. The increase was actually larger than expected, but the retreat of the Latvian economy should come as no surprise. The keel-haul will continue.
Hungarian industrial production surged. To our great surprise the figure jumped by 8.8% in seasonally and work day adjusted terms. At the same time Czech inflation was lower than expected, which reinforces our view of continued low Czech rates.
Political strife in Iceland. The rejection of the Icesave bill was a severe setback for the government. The opposition in Iceland is demanding a new election as early as this spring.

Preview

Not much in the way of key figures. Hungarian GDP data for Q4 is expected to be the most interesting of available statistics.

Trading update

In spite of dovish central bank talk in Poland and stronger than expected macro data out of Hungary we saw significant underperformance in Polish government bonds compared with Hungary.

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Published On Wed, Mar 10 2010, 06:37 GMT

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Danske Bank A/S

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