Danish mortgage market hit by duration extension, still expected to worsen?
Jun 26, 2015 07:13 am UTC| Commentary
The increase in rates since late April has hit the Danish fixed income market severely.The negative convexity in the callable bond market combined with the increase in rates has once again shown that it can be dangerous....
ECB purchases to set the tone for Finnish bonds
Jun 26, 2015 07:08 am UTC| Commentary
Finnish bonds saw modest underperformance following the message from Moodys, ECBs purchases convince that will set the course for markets in the coming months, especially in July and August, when trading volumes in general...
Finland further rating downgrades an increasing threat?
Jun 26, 2015 07:04 am UTC| Commentary
Standard Poors stripped Finland of its AAA rating last year, while Fitch changed the outlook on its AAA rating to negative in March. Moodys, the third major rating agency, followed suit earlier this month, when it changed...
Norway's short rates to continue lower
Jun 26, 2015 07:03 am UTC| Commentary
Last week Norges Bank delivered the long awaited cut and also a clear easing bias for the September meeting. The latter came as a complete surprise to the market which sent the FRA-strip down by about 10bp. Nordea Bank...
Denmark September T-bill looks cheap
Jun 26, 2015 07:00 am UTC| Commentary
Currently the Danish Sep 2015 T-bill looks cheap relative to the German and French equivalent when accounting for FX-forwards even when sold at -0.75%.Sold at these levels there it is likely that there could be activity on...
Greek turbulence could delay the Danish normalisation
Jun 26, 2015 06:56 am UTC| Commentary
If the crisis in Greece escalates, the immediate reaction will likely be a strengthening of the traditional safe-haven currencies including the Danish krone.This would imply a repetition of the movements in the early...
Norwegian macro: More cuts to come
Jun 26, 2015 06:56 am UTC| Commentary
Norges Bank surprised at the June meeting. Not by cutting rates to 1%, but by stating that another cut in September was likely. According to the rate path a cut at the September meeting has a 2/3 chance. A rate cut was...
Gabon: post-coup dialogue has mapped out path to democracy – now military leaders must act
IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects