External broker reports(aggregated public sources), Nordea

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External broker reports(aggregated public sources)

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Macroeconomics

<ul><li>“In a democracy, nobody should be afraid of the voters.”– Christian Lindner, the departing German finance minister on 7 NovemberThe dust is settling after last week’s US election, and many of the market reactions we have seen resemble those seen after Trump first won the presidency in 2016.</li><li>Trump’s and the Republicans’ decisive victory in the White House and the Senate was clear already last week, but this week confirmed that also the House of Representatives would stay in Republican hands, although only with a small majority.</li><li>Trump’s administration is starting to take shape, and nothing we have seen so far suggests any notable moderation in stance compared to his pre-election pledges.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

“In a democracy, nobody should be afraid of the voters.”– Christian Lindner, the departing German finance minister on 7 NovemberThe dust is settling after last week’s US election, and many of the market reactions we have seen resemble those seen after Trump first won the presidency in 2016.Trump’s and the Republicans’ decisive victory in the White House and the Senate was clear already last week, but this week confirmed that also the House of Representatives would stay in Republican hands, although only with a small majority.Trump’s administration is starting to take shape, and nothing we have seen so far suggests any notable moderation in stance compared to his pre-election pledges.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>Employmentfell by 0.2 percent over the month in October, according to the Swedish Labour Force Survey (seasonally adjusted).</li><li>The employment ratealso declined, to 68.6 percent in October, and the September outcome was revised down.</li><li>The outcome was weaker than the Riksbank’s forecast.Unemploymentdecreased by 0.2 %-points to 8.4 percent in October due to a drop in the labour force by 0.5 percent over the month.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Employmentfell by 0.2 percent over the month in October, according to the Swedish Labour Force Survey (seasonally adjusted).The employment ratealso declined, to 68.6 percent in October, and the September outcome was revised down.The outcome was weaker than the Riksbank’s forecast.Unemploymentdecreased by 0.2 %-points to 8.4 percent in October due to a drop in the labour force by 0.5 percent over the month.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Swedish Labour Market: Continued Weakness

<ul><li>There were several minor upside surprises in October. The bigger picture nevertheless remains intact – inflation has normalized.</li><li>CPIF stood at 1.5% y/y and CPIF ex energy at 2.1% y/y in October. Thus, the flash numbers published 7 November were confirmed.</li><li>Seasonally adjusted, the monthly change in core inflation has been above but close to the 2% target in recent months.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

There were several minor upside surprises in October. The bigger picture nevertheless remains intact – inflation has normalized.CPIF stood at 1.5% y/y and CPIF ex energy at 2.1% y/y in October. Thus, the flash numbers published 7 November were confirmed.Seasonally adjusted, the monthly change in core inflation has been above but close to the 2% target in recent months.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Swedish October Inflation Review: Small Deviations

<ul><li>The Riksbank cut the policy rate by 50bp to 2.75% at the monetary policy meeting on 6 November (announcement 7 November).</li><li>The Riksbank’s Monetary Policy Update didn’t include forecasts, but the bank signalled that “…the policy rate may also be cut in December and during the first half of 2025”, in line with what was communicated in September.</li><li>The Executive Board was unanimous in its decisions.Governor Erik Thedéenconcludes that inflation trends are as expected and that there are few signs of new inflation impulses.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The Riksbank cut the policy rate by 50bp to 2.75% at the monetary policy meeting on 6 November (announcement 7 November).The Riksbank’s Monetary Policy Update didn’t include forecasts, but the bank signalled that “…the policy rate may also be cut in December and during the first half of 2025”, in line with what was communicated in September.The Executive Board was unanimous in its decisions.Governor Erik Thedéenconcludes that inflation trends are as expected and that there are few signs of new inflation impulses.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Riksbank minutes: Support in uncertain times

<ul><li>Chart 1: Headline and core inflationHigher prices on electricity and rents for summer houses Compared to September Danish consumer prices increased by 0.6%.</li><li>Half of this came from higher prices on electricity.</li><li>In addition, higher rent for summer houses during the autumn holiday made a positive contribution of 0.17%-point to the monthly change.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chart 1: Headline and core inflationHigher prices on electricity and rents for summer houses Compared to September Danish consumer prices increased by 0.6%.Half of this came from higher prices on electricity.In addition, higher rent for summer houses during the autumn holiday made a positive contribution of 0.17%-point to the monthly change.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.