ING Financial Markets

In FICC (Fixed Income, commodities and Currencies) Research, we offer niche EM expertise, especially in EMEA. We are the go-to bank for Benelux issues, from regulations to rates to a Benelux credit focus. We have developed top notch covered bonds research, and have niche offerings in money markets, rate derivatives and European high yield. We overlay this with a global offering in macro, FX, commodities research and technical analysis. Europe is a key focus for us, but our global sphere extends to the Americas and Asia, in areas where we have selected DM & EM edges. Our analysts provide both written output and conference calls, but also travel the world to provide face-to-face presentations.

ING’s Equity Research team provides in-depth research on over 120 companies in the BeNeLux region, offering both breadth and depth of stock coverage. In addition to investment recommendations, our analysts offer thematic research, proprietary data points. insights into industry trends and unique valuation perspectives. ING’s Equity Research team was ranked the #1 Country Research team in the BeNeLux region in 2017 by the Extel Survey. Next to this, ING is the only bank to have been involved in all the BeNeLux IPOs in 2017. ING has the largest equities team focussed on Benelux listed securities and is the only Benelux broker with sales and research operations in both Amsterdam and Brussels and a sales hub in New York.

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Aedifica and Cofinimmo: Exchange offer complete and new board members appointed. D'Ieteren: Change in CEO at Moleskine, preview FY25. Euronext: Positive volume momentum continues. Retail Estates: €27m retail park development. Staffing: French January trend softer on tough comps, February outlook better

Chris Turner ... (+3)
  • Chris Turner
  • Francesco Pesole
  • Frantisek Taborsky

FX Daily: Risk assets gain a reprieve as energy costs bite

After a very shaky start, Monday proved to be a day of reversal for risk assets as President Trump hinted that military operations could end soon. No one knows whether that will be the case, but Monday's events show that the US administration is more sensitive to energy than it seemed. However, oil needs to start flowing again for this $ reversal to extend

Roelof-Jan van den Akker
  • Roelof-Jan van den Akker

Technical Analysis/Bund future

Last week saw a very sharp sell-off, with prices closing 225bp lower at 126.97. This move pushed prices back below the EMA-40 line at 127.84, after briefly regaining this moving average with a close at 127.79 in early February. As a result, the rally that started from the December low at 125.68 came to an abrupt end. These pronounced swings remain part of a broader, long-term consolidation range between 125.35 and 129.79/130.82, with no clear directional trend. In the near term, attention should...

Carsten Brzeski
  • Carsten Brzeski

German exports fall in January, capping a weak start to the year for t...

With exports and imports dropping in January, our optimism about Germany's growth prospects has taken a hit this week. We still expect the economy to accelerate this year on the back of fiscal stimulus, but this optimism won't survive if we continue to see macro data like this

Min Joo Kang
  • Min Joo Kang

Japan's stronger GDP and limited gas price risks support a BoJ rate hi...

Japan's GDP expanded more than expected in the last quarter of 2025, and household spending on goods and private services remains on track in January. With retail gasoline prices contained, the Bank of Japan is likely to delay any rate hike to June, standing pat in April

Hamza Khan ... (+2)
  • Hamza Khan
  • Warren Patterson

The Commodities Feed

Energy • Crude oil speculative position: Speculators continued to increase their net long in ICE Brent over the last reporting week. According to exchange data, speculators increased their position by 4,175 lots to leave them with a record net long of 565,459 lots. Meanwhile for NYMEX WTI speculators reduced their net long by 15,591 lots to leave them with a net long of 396,381 lots. • US oil rig count: Latest data from Baker Hughes shows that over the last week the number of active rigs decreas...

Gustavo Rangel
  • Gustavo Rangel

LATAM: Political risk calls for caution

Presidential elections are scheduled in Mexico, Brazil and Colombia this year. We take a look at what the rise in political uncertainty means for economic policy and currency trading in the region

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