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Weekly Focus

A global policy bonanza

Mon, Sep 28 2009, 06:52 GMT
by Allan von Mehren, Steen Bocian

Danske Bank A/S  |  View company's profile


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Global Update

  • Fed continues to signal rates on hold at very low level for a considerable time
  • Norges Bank is expected to hike rates at the October meeting
  • IMF is questioning the existing global monetary policy set-up
  • G20 statement from Pittsburgh to focus on global rebalancing
  • European manufacturing data continues to improve, but at a slower pace
  • Labour market healing continues in the US, existing home sales in temporary setback

Market movers ahead

  • US ISM and employment data is the main event next week. We look for upside surprises
  • In Euroland the ECB’s 12-month tender will be of great important to the market. It is likely to be the last 12-month tender without a spread on the 1% refi rate
  • Asia manufacturing PMI, Japanese industrial production plans and Tankan are expected to show further improvements, but at a slower pace
  • In Sweden retail sales and a speech by Riksbank governor Ingves are the main events
  • In Norway, retail sales, credit indicator, unemployment data and PMI are on the agenda

Published on  Mon, Sep 28 2009, 06:55 GMT


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