External broker reports(aggregated public sources), Nordea

Nordea

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External broker reports(aggregated public sources)

FX & Rates

<ul><li>The drop in interest rates expectations in Norway is mainly due to increased recession fears in the US after weaker than expected labour market data there.</li><li>The market went into panic mode and now expects the Fed to deliver more than 8 cuts (210bps) over the next year.</li><li>Keeping in mind that it is less than a week since we heard chairman Powell describe the labour market and the economy as in a good place, it certainly looks excessive.</li></ul><p><em>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.</em></p>

The drop in interest rates expectations in Norway is mainly due to increased recession fears in the US after weaker than expected labour market data there.The market went into panic mode and now expects the Fed to deliver more than 8 cuts (210bps) over the next year.Keeping in mind that it is less than a week since we heard chairman Powell describe the labour market and the economy as in a good place, it certainly looks excessive.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.

NOK Update: Market Pessimism Overdone for Norway