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All quiet on the Nordic front

| Posted by: Paul Donovan | Tags: Paul Donovan

  • The Presidents' Day holiday means that no market significant events are scheduled in the US. There are no significant events scheduled in Sweden either - nothing significant has happened in Sweden for some time (last week's Riksbank meeting was the most excitement there has been for weeks; the Riksbank did nothing).
  • Wednesday's release of the minutes of the US Federal Reserve's last meeting constitutes as one of the highlights of the week. However, Fed Chair Yellen's Congressional testimony last week was supposed to represent the collective views of the FOMC; the tone of the minutes is thus unlikely to surprise.
  • The UK House of Lords votes on the bill to allow the government to start divorce proceedings with the EU. There is a greater chance of the bill being amended than was the case with the House of Commons; that may increase uncertainty.
  • German producer price inflation is due (a more relevant measure than consumer price inflation is assessing corporate pricing power). Oil prices should help the headline rate to accelerate, although rising labor costs may also be a factor.