External broker reports(aggregated public sources), Scotiabank

Scotiabank

External broker reports(aggregated public sources)

Scotiabank’s global foreign exchange strategy team provides in-depth regional insights and macro-economic analysis for G10 and advanced economies, Asia Pacific, and Latin America. Find technical and fundamental strategy reports focused on trade ideas, market risks, and the unfolding macro outlook. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

FX & Rates

<ul><li>The USD is trading mixed to slightly firmer as markets show signs of calming after the volatility seen earlier in the week. Stocks are trading higher in Europe and rose modestly in Asia; US equity futures are positive.</li><li>US 10Y yields are holding near the recent high at 4.20% but intraday trends are largely tracking other major bond markets.</li><li>Commodities are mixed to firmer (crude and iron ore). The NOK and AUD are moderate outperformers on the day (reflecting gains in relevant commodities noted above). </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 USD is trading mixed to slightly firmer as markets show signs of calming after the volatility seen earlier in the week. Stocks are trading higher in Europe and rose modestly in Asia; US equity futures are positive.US 10Y yields are holding near the recent high at 4.20% but intraday trends are largely tracking other major bond markets.Commodities are mixed to firmer (crude and iron ore). The NOK and AUD are moderate outperformers on the day (reflecting gains in relevant commodities noted above). 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.

External broker reports(aggregated public sources), Nordea

Nordea

Nordea is the bank in the Nordics dedicated to serving corporations and institutional customers. Our offering includes a diverse range of financing, cash management and payment services, investment banking, capital markets products, securities services and more. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Macroeconomics

<ul><li>Key summer developments at a glance: The Fed increased the funds rate by 25bp to the range 5.25-5.50%.</li><li>The central bank signalled that it will remain data dependent, maintaining its hiking bias on the back of inflation worries.</li><li>Still robust data from the real economy but also lower inflation data has buoyed markets view of a soft landing.</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.

Key summer developments at a glance: The Fed increased the funds rate by 25bp to the range 5.25-5.50%.The central bank signalled that it will remain data dependent, maintaining its hiking bias on the back of inflation worries.Still robust data from the real economy but also lower inflation data has buoyed markets view of a soft landing.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>More resilient economy and financial markets open for continued Riksbank hikes.</li><li>Troublesome inflation outcomes and weak SEK adds to pressure.</li><li>We see potential for higher SEK rates relative Euro and for some covered spread tightening.</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.

More resilient economy and financial markets open for continued Riksbank hikes.Troublesome inflation outcomes and weak SEK adds to pressure.We see potential for higher SEK rates relative Euro and for some covered spread tightening.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.

SEK rates weekly: Risk appetite extends hiking cycle

<ul><li>In recent years my holiday calendar has been a good indicator of performance in the Danish callable bond market.</li><li>I know that some think I’m too harsh on the risk element in the callable bond market but there is a much better reason for the strong performance in July which could be an early bird for something positive.</li><li>I also look at the switch in the on-the-run bond maturities (2053-&gt;2056) and conclude that the 5% 2056 bonds are sold too cheaply at the moment.</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 recent years my holiday calendar has been a good indicator of performance in the Danish callable bond market.I know that some think I’m too harsh on the risk element in the callable bond market but there is a much better reason for the strong performance in July which could be an early bird for something positive.I also look at the switch in the on-the-run bond maturities (2053-&gt;2056) and conclude that the 5% 2056 bonds are sold too cheaply at the moment.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.

Bonds & bold: There is something in the air

<ul><li>FX Market Update —The USD remains firm after yesterday gains.</li><li>US Treasurys remain under pressure following the Fitch news and, perhaps more especially, the US Treasury refunding announcement which highlighted a significant increase in supply over the coming year —even though this would not have been a surprise for the Treasury market.</li><li>Weak Treasurys are weighing on global yields and extending pressure on stocks.</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.

FX Market Update —The USD remains firm after yesterday gains.US Treasurys remain under pressure following the Fitch news and, perhaps more especially, the US Treasury refunding announcement which highlighted a significant increase in supply over the coming year —even though this would not have been a surprise for the Treasury market.Weak Treasurys are weighing on global yields and extending pressure on stocks.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.

FX Daily - USD Supported by Rising Yields

United States

The US dollar is the official currency of the United States of America.

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FX Daily - USD Mixed Ahead of Jobs Data

Commodities are mixed to firmer (crude and iron ore). The NOK and AUD are moderate outperformers on the day (reflecting gains in relevant...

Scotiabank

Macro & Markets: Welcome back

Key summer developments at a glance: The Fed increased the funds rate by 25bp to the range 5.25-5.50%. The central bank signalled that it will...

Nordea

SEK rates weekly: Risk appetite extends hiking cycle

More resilient economy and financial markets open for continued Riksbank hikes. Troublesome inflation outcomes and weak SEK adds to pressure.

Nordea

Bonds & bold: There is something in the air

In recent years my holiday calendar has been a good indicator of performance in the Danish callable bond market. I know that some think I’m too...

Nordea

FX Daily - USD Supported by Rising Yields

FX Market Update —The USD remains firm after yesterday gains. US Treasurys remain under pressure following the Fitch news and, perhaps more...

Scotiabank

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