Here are
the links to the weekly roundups, reviews and also previews of the beginning
week. Last week's 'Support' here.
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Weekly Scoreboard – Between
The Hedges
Friday’s Price Monitor – Global
Macro Monitor
German Stocks Give Up Week's Gains As Bund Yields Plunge To Record Lows
Bond Yields Plunge Most In 10 Months As Stocks BTFEscalation
Succinct summation of week’s events – The
Big Picture
Economic Calendar – Berenberg
UK Bank of England minutes: a
first dissenter? * US Fed
minutes: growing confidence * Euro PMIs: Ukraine
uncertainty
UK Calendar
– Handelsbanken
Economic Calendar – Handelsbanken
5 Things to Watch on the Economic Calendar – WSJ
The biggest economic event next week will be the symposium hosted by the
Federal Reserve Bank of Kansas City. Or as
Fed-watchers simply call it, “Jackson Hole,” the Wyoming city
where the conference takes place each year.
U.S. stocks a
safe haven, even after panic selloffs
Europe’s Week Ahead – WSJ
Weekly Market Outlook – Moody’s
Weighing
the Week Ahead – A
Dash of Insight
Time for
Central Bankers to Unwind?
What
Matters for Global Markets in the Week Ahead – WSJ
Week ahead:
1) Minutes from BoE, Fed and RBA 2) Aug purchasing manager indices from Europe 3) Geopolitics of Ukraine, Gaza, Iraq 4) Jackson Hole a non-event
Weekly Focus: Recovery continues despite
political unrest – Danske
Bank
The minutes from the 29-30 July FOMC meeting due on Wednesday will
attract attention, as the FOMC’s communication took a more hawkish turn in the
latest statement
Strategy – Danske
Bank
Euro recovery weakening due to temporary external headwinds * Short-term
picture still weak but euro recovery to gain pace later this year * US and
Chinese recovery to moderate * Risk appetite recovers for now while bond yields
hit new lows
Week Ahead – Nordea
A quiet week in the Euro area in terms of data, and we have expectations
of declining Flash PMIs on Thursday. The week will terminate with decisive
speeches on the future from Yellen and Draghi at the Jackson
Hole conference Friday. In China, the
manufacturing sector has enjoyed tailwinds from the previous CNY weakening. Norway and Sweden are
undergoing labor market improvement and Norway are
expecting Q2 mainland GDP to increase 0.9%.
Scandi
Markets Ahead – Danske
Bank
Government
bond auctions and divergent monetary policy in focus. In Sweden, the week ahead has only one data
point of interest: the labour force survey (Thursday at 09:30 CEST), including hours worked,
employment and the unemployment rate.
Viikkokatsaus: Näkemys talouden suunnasta ei muutu – Nordea
Mennyttä: Euroalue: Nousu katkesi Q2:lla * Japani BKT
sukelsi ALV:n takia * Suomi: Pika-BKT yllätti, kun se ei yllättänyt Tulevaa: Luottamusluvut
eivät muuta isoa kuvaa
STOCKS
Weekly
Market Summary – The
Fat Pitch
You would
guess that the fall in rates, which is flattening yield curves, would be a
negative for US equities, indicating slowing growth prospects. However, the
historical record is ambiguous.
CREDIT
Weekly Credit Update – Danske
Bank
Low yields for longer backs credits * Strong
performance from Senior Financials * Low activity in primary markets
Yield Forecast Update – Danske
Bank
The trend for lower long bond yields has continued
among rising geopolitical tensions and the view of lower terminal rates from
central banks. In the meantime, short-end rates in the US and
the UK remain close to recent highs, which reflect that policy normalisation is
drawing closer. In Europe, a temporary growth pause has reinforced downward pressure on rates and so
far the ECB’s measures have been unable to lift growth and inflation
expectations.
European FI Strategy: Down! Flat!
Done? – Nordea
Low, flat but are we done on EUR rates, or is
the time here for a reversal? We think the answer very cautiously is: Modestly,
and for the longer end of the curve predominantly. We think the transatlantic
spreads may widen a bit more, but that the EUR 5Y5Y swap rate in nominal but
especially real terms is too low.
Euro rates update – Nordea
FOREX
FX Outlook – Marc to Market
Global FX Strategy - Geopolitics, liquidity in
drivers’ seat – Nordea
The looming monetary policy divergence between major central banks’ and
geopolitical worries have been the key drivers in recent months. Barring a
sudden and peaceful resolution in east Ukraine we expect
the EUR to remain under pressure. We are sceptical on EM FX and see some
potential for a political risk premium in the SEK in September. The NOK, we
like. Enjoy this edition of Global FX Strategy!
EMERGING
EMEA Weekly – Danske
Bank
Deflationary pressures
strengthen in CEE
EM Preview
of the Week Ahead –
Marc
to Market
CALENDARS
Economic
Calendar – investing.com
Economic
Calendar – BB
EU calendar – europa.eu
Markkinakalenteri
– Nordnet