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Macro Comment China Trade tensions on everyone’s lips

Our recent investor trip did not make us any more worried about an escalation of the trade war between China and the US. China will likely not devalue its currency or dump US treasuries, and China's economy is doing quite OK, even as credit and, in particular, shadow banking are being curbed. The recent opening up of China's bond market for foreigners looks like an attractive investment opportunity, in our view.

Bjarke Roed-Frederiksen

Senior Economist

Latin America and China

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Macro Comment China


Morgenmelding Danmark


Makroøkonomisk Ugefokus

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Fast Comment Norway — Norges Bank's Survey of Bank Lending: increased demand for fixed-rate loans

  1. Credit standards broadly unchanged, as expected
  2. And expected to remain so ahead
  3. Increased demand for fixed-rate loans

Marius Gonsholt Hov, Senior Economist |

UK Comment — UK inflation weaker than expected in March

  1. CPI inflation down to 2.5 percent and core CPI inflation down to 2.3 percent in March - weaker than expected
  2. Cost pressure still high, but trending downward
  3. Inflation not weak enough to prevent rate hike in May

Kari Due-Andresen, Chief Economist Norway |

UK Comment — Labour market numbers leave BoE on track for May hike

  1. Unemployment rate down to 4.2%, beating the consensus
  2. Total pay unchanged at 2.8% (consensus: 3.0%); regular pay up to 2.8% from 2.6% (consensus: 2.8%)
  3. In line with BoE expectations

Kari Due-Andresen, Chief Economist Norway |

Fast Comment China — GDP growth stays remarkably stable

  1. Official GDP growth within a narrow range
  2. China had a strong start to the year
  3. We see growth slowing gradually

Bjarke Roed-Frederiksen, Senior Economist |

Fast Comment Sweden — Housing prices in March

  1. Housing prices down by 0.3 percent in monthly terms (S.A.)
  2. The stricter amortisation requirement has affected the activity
  3. Stabilisation in sight?

Helena Bornevall, Senior Economist |

Economic Calendar — April 16-20

Kiran Sakaria, Junior Strategist |