Nordic equity strategy chart book
Increased optimism for a soft landing for the US and Eurozone economies has driven a sharp increase in rate expectations, while consensus earnings estimates continue to slip. This combination saw US equities decline in February, while Nordic stocks remained resilient, driven by the risk premium declining to its lowest level (i.e. most expensive) since the pre-financial crisis peak. We maintain our underweight equity market stance.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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