The economic recovery continues in the US and it is now only a matter of time before the central bank begins to reduce its stimulus measures in the form of bond purchases. In Sweden, inflation declined which gave the markets hope for a rate cut as early as July.
There have not been any major changes in the global economy since the monthly report "Placeringsnytt" (Placement News) last week. China's growth is still below trend. A positive labour market trend in the US inspires confidence and Europe may be nearing the bottom of the business cycle.
China reported mixed figures last week, with a downward trend, which confirms that China’s economic growth remains below trend.
The magazine The Covered Bond Report has awarded institutions and deals that have demonstrated the best of the covered bond market in the past year, from April 2012 to March 2013. Swedbank was awarded for its investor relations work.
Reduced political uncertainty in Europe's crisis countries, surprisingly positive order intakes and consumption in the US, and continued monetary policy stimulus mean that the improved global business cycle scenario remains.
Anders Eklöf, Chief FX Strategist at LC and I at Swedbank, is commenting on the ECB's decision to lower the interest rate.
Italy has a new government, a broad coalition between different parties and with Enrico Letta as Prime Minister. A weak dollar and a large domestic market is boosting the U.S. economy. In Sweden, new orders in industry increase, albeit slowly.
Lex's Stuart Kirk and Oliver Ralph discuss around Swedbank and the Swedish bank sector.
A short presentation of Swedbank Group, 31 March, 2013.
Last week was an off-week for stockmarkets. First quarter macro figures came in weaker than market expectations, which resulted in risky assets being sold and profits taken. Most stockmarkets did well in the first three months so there was quite a bit of profit to take. Slower economic growth statistics from China and recurring concerns about growth in Europe also contributed to market uncertainty.
Swedbank-CEO: Don't over-regulate the banking sector.
CEO Michael Wolf and CFO Göran Bronner are commenting on the results for the first quarter 2013.
Presentation of Q1 2013 Results from the Analyst Conference by CEO Michael Wolf, CFO Göran Bronner and CRO Håkan Berg.
Chief Economist Cecilia Skingsley at Swedbank, gives her view on the decision from the Executive Board of the Riksbank to hold the repo rate unchanged at 1 per cent and to make a downward adjustment to the repo-rate path.
Growth prospects are gradually brightening, but at the same time the forecast is that it will now take longer before inflation attains the target of 2 per cent. The repo rate needs to remain at a low level for a longer period of time to support the recovery to ensure that inflation rises towards the target. The Executive Board of the Riksbank has therefore decided to hold the repo rate unchanged at 1 per cent and to make a downward adjustment to the repo-rate path. Increases in the repo rate are not expected to begin until the second half of 2014.
Magnus Alvesson, Head of Economic Forecasts at Swedbank, is commenting on the report Swedbank Economic Outlook, presented on 10 April 2013.
Swedbank Economic Outlook,
Northern lights – flickering but shining bright
Swedbank’s interim report January – March 2013 will be published at 06.30 CEST on Tuesday, 23 April, 2013. You are invited to participate in the following presentations:
Swedbank has decided to discontinue its remaining operations in Ukraine and Russia and has signed a share purchase agreement regarding its Ukrainian subsidiary with Mr. Mykola Lagun, the majority owner in Delta Bank.
Pursuant to the conversion clause set forth in Swedbank AB’s (“Swedbank”) articles of association the Board of Directors has today resolved to convert all preference shares into ordinary shares.