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.

Paolo Pizzoli
  • Paolo Pizzoli

Italian December confidence data points to continued economic soft pat...

Manufacturing and construction confidence was confirmed as weak but improved in services. Softer consumer confidence is a stark reminder that the consumption drive we anticipate for 2025 is not immune to downside risks

Frantisek Taborsky
  • Frantisek Taborsky

EM FX & Rates Trader/Stopped out in Long ROMGBs

We initiated a Long ROMGB May-27 (entry: 6.73, target: 6.30, stop-loss: 7.00) two weeks ago after first a sell-off in Romanian assets and the cancelation of presidential elections. A second wave of negative news from Romanian politics, culminating in a downgrade of the rating outlook from stable to negative BBB- from Fitch, triggered another sell-off leading to hitting the stop-loss of our trade idea on Wednesday. We closed Long ROMGB May-27 at 7.02, resulting in a loss of 26bp.

David Havrlant ... (+4)
  • David Havrlant
  • James Smith
  • Muhammet Mercan
  • Peter Virovacz

THINK Ahead: CEE region in focus

Our take on what a quieter week ahead could bring for markets across Central and Eastern Europe

Adam Antoniak
  • Adam Antoniak

Polish consumers show renewed enthusiasm in November

November retail sales exceeded expectations as purchases continued to improve after a surprisingly weak September. Data indicates that private consumption, which hit a soft patch in 3Q24, improved again, remaining the main driver of economic growth in 2024. We see upside risk to our forecast of economic growth of 2.7% this year

Marine Leleux ... (+3)
  • Marine Leleux
  • Maureen Schuller
  • Suvi Platerink Kosonen

Bank Brunch/Crédit Agricole 2025 funding plan, Happy holidays from the...

Crédit Agricole guides for lower issuance in 2025, but only for less risky segments. Happy holidays!

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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