The outlook presented in “Placeringsnytt” (Investment News) a week ago remains unchanged. We can see improvement in the global economy and an increasingly robust recovery in the US. At the same time, emerging markets are slowing down and the recession in the eurozone continues.
Swedbank today announced a tender offer to the holders of certain series of its outstanding notes which are guaranteed by The Kingdom of Sweden.
“The scenario of an improved global economy remains. We believe that market uncertainty and risk continue to decline. This means we reaffirm our overweight in equities rating for active investors in June,” says Sara Arfwidsson, market strategist at Investment Center.
PMI climbs to 51.9 in May – industrial economy improves as second half approaches
Purchasing Managers Index,
During last week stockmarkets around the world has declined. It was mainly about taking profits rather than the beginning of a long-term decline. Continued monetary stimulus by centralbanks in both the US and Japan. The development in Europe and Sweden is still weak.
For the second consecutive year, Swedbank in Latvia has been awarded Gold Status in the national Sustainability Index and the title Family Friendly Company.
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.