Nordic & Swiss Data Response Manufacturing PMIs (Nov.) The falls in the Swiss and Swedish manufacturing PMIs in November dash any hopes that the manufacturing sectors have gathered momentum in Q4. With the manufacturing recession in Germany set to rumble... 2nd December 2019 · 2 mins read
Nordic & Swiss Economics Weekly Q3 GDP data are not a sign of things to come While Q3 GDP data from Switzerland and Sweden, released this week, were stronger than what we had pencilled in, they do not change our views on the outlooks for monetary policy in either case. We... 29th November 2019 · 5 mins read
Global Markets Update Swiss & Swedish govt. bond yields likely to drop back We doubt that the global pick-up in government bond yields will resume anytime soon, so domestic monetary policy is likely to be the key driver of bonds in Switzerland and the Nordics. With that in... 25th November 2019 · 3 mins read
Nordic & Swiss Economics Update Swiss & Swedish govt. bond yields likely to drop back We doubt that the global pick-up in government bond yields will resume anytime soon, so domestic monetary policy is likely to be the key driver of bonds in Switzerland and the Nordics. With that in... 25th November 2019 · 3 mins read
Nordic & Swiss Economics Update Riksbank preparing for life after physical cash While the Riksbank’s plans for an official digital currency are still in the early stages, we think it is more likely than not that it will launch the e-krona by the mid-2020s. Moreover, we suspect... 20th November 2019 · 7 mins read
Nordic & Swiss Economics Update Swishing in Stockholm We have just returned from two days of client meetings in Stockholm from which the key takeaway is that we are not alone in being puzzled by the Riksbank’s stance. Policymakers seem determined to... 14th November 2019 · 4 mins read
Nordic & Swiss Data Response Swedish Consumer Prices (Oct.) Despite October’s increase in CPIF inflation, underlying inflation in Sweden remains below target and serves as proof that the economy is not ready for the Riksbank’s planned rate hike in December... 13th November 2019 · 2 mins read
Global Markets Update Riksbank hike wouldn’t do much for embattled krona The Riksbank appears determined to raise interest rates into an economic slowdown. While higher policy rates may provide some support for the Swedish krona, we still think that it will continue to... 1st November 2019 · 3 mins read
Nordic & Swiss Economics Update Riksbank hike wouldn’t do much for embattled krona The Riksbank appears determined to raise interest rates into an economic slowdown. While higher policy rates may provide some support for the Swedish krona, we still think that it will continue to... 1st November 2019 · 3 mins read
Nordic & Swiss Economics Weekly Riksbank to hike back to zero; Finland losing steam While the Riksbank appears dead-set on raising its repo rate back to zero in December, we suspect that it will only be a matter of time before it will have to loosen policy again. Meanwhile, we expect... 25th October 2019 · 6 mins read
Nordic & Swiss Economics Update Hawkish Riksbank to reverse course in 2020 Having left its repo rate on hold at -0.25% this morning, we do not doubt the Riksbank’s clear intent to raise it to zero in December. However, with economic growth set to slow in 2020, and underlying... 24th October 2019 · 3 mins read
Nordic & Swiss Central Bank Watch Further rate cuts in the pipeline We expect the Riksbank and the Norges Bank to leave interest rates on hold at their policy meetings this week. Elsewhere, we think that the Central Bank of Iceland will cut rates at its next meeting... 22nd October 2019 · 8 mins read
Nordic & Swiss Chart Pack NOK to fall further before reversing course next year While the Swiss and Swedish economies appear to have contracted in Q3, mainland GDP growth in Norway is chugging along nicely. And even though activity is set to slow in 2020, Norway will remain a... 17th October 2019 · 10 mins read
Nordic & Swiss Economic Outlook Easing cycles have further to run In keeping with our bearish view on the euro-zone, our forecasts for GDP growth in Switzerland and the Nordic economies over the coming years are generally well below consensus. Switzerland is most... 16th October 2019 · 21 mins read
Nordic & Swiss Economics Update Nobel prize money isn’t what it used to be The decades-long downward trend in the Swedish krona means that a Nobel prize in US dollar terms is worth less than half what it was in the early 1990s. With the krona set to fall further by year-end... 14th October 2019 · 3 mins read
Nordic & Swiss Economics Weekly SEK and NOK to fall further over the next six months Despite the healthy-looking activity data from Sweden for August, we are still bracing ourselves for a grim Q3 GDP figure and think that the risks to the krona are rooted to the downside. Meanwhile... 11th October 2019 · 4 mins read
