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- New York 09:44
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Weekly Focus
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Squaring positions
Fri, Nov 20 2009, 16:45 GMT
by Allan von Mehren, Steen Bocian
Global update
- Year-end position squaring is widening sovereign spreads in peripheral Euroland countries. In combination with the abundance of liquidity this is driving short bond yields to very low levels.
- OECD has revised up its 2010 outlook.
- US October data have been mixed, but with important signs of more progress among consumers. Unusually bad weather has probably had some temporary negative impact. In summary data continue to point to a solid Q4.
- Japan published very strong Q3 GDP growth of 4.2% q/q AR showing the strongest performance among G7 countries so far.
Market movers ahead
- The main event in US are the FOMC minutes. Home sales, durable orders and consumer confidence are forecast to show progress. House prices are on the agenda as well. Thursday is closed due to Thanksgiving and Friday is likely to be quiet.
- In Euroland flash PMI and German Ifo will continue up, while the M3 growth will decline further. Euroland industrial new orders will be published as well.
- In Japan CPI and unemployment will be released. Focus will remain on the appreciation pressure on the Asian currencies.
- In Sweden Q3 GDP will confirm that the recession has ended and show strong growth of 0.8 q/q %. Retail sales, manufacturing confidence and PPI will attract attention as well.
- In Norway mainland GDP is likely to show impressive growth of 1.4% q/q.
Published on Fri, Nov 20 2009, 16:45 GMT
Archive
- Squaring positions
Published On Fri, Nov 20 2009, 16:45 GMT - German locomotive at full steam
Published On Fri, Nov 13 2009, 17:59 GMT - More short-term strength
Published On Fri, Nov 6 2009, 17:10 GMT - Mood swings
Published On Fri, Oct 30 2009, 18:31 GMT - Upbeat earnings overshadow mixed data
Published On Fri, Oct 23 2009, 17:42 GMT
Danske Bank
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This publication has been prepared by Danske Bank for information purposes only. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its contents are not untrue or misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance on it. Danske Bank, its affiliates or staff, may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives), of any issuer mentioned herein. Danske Bank's research analysts are not permitted to invest in securities under coverage in their research sector. This publication is not intended for private customers in the UK or any person in the US. Danske Bank A/S is regulated by the FSA for the conduct of designated investment business in the UK and is a member of the London Stock Exchange. Copyright () Danske Bank A/S. All rights reserved. This publication is protected by copyright and may not be reproduced in whole or in part without permission.Related reports
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