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.

Rafal Benecki
  • Rafal Benecki

Poland: The stagflation scenario is already there

Inflation is losing momentum but is still setting new multi-year highs. The PMI collapse is supporting our expectations for a technical recession in 2022. The National Bank of Poland has a tough choice after massive CEE rate hikes, but a dovish central bank move would weaken the currency

Bert Colijn
  • Bert Colijn

Eurozone inflation jumps to 8.6% on food and energy effects

Another ugly inflation reading as energy and food prices push inflation to a new high. Core inflation moderated slightly, in part due to domestic support packages. For the European Central Bank, this adds pressure to act quickly

Min Joo Kang
  • Min Joo Kang

Japan's growth prospects remain positive, at least in the short term

Today's numerous data releases, from inflation to labour to business surveys, suggest a positive outlook for Japan in the near term. The overall picture is still mixed and the figures aren't good enough to change the central bank's current stance

Adam Antoniak ... (+7)
  • Adam Antoniak
  • James Knightley
  • Min Joo Kang
  • Muhammet Mercan
  • Nicky Mapa
  • Peter Virovacz
  • Rob Carnell

Our view on next week's key events

Discover what ING analysts are looking for next week in our global economic calendars

Francesco Pesole ... (+2)
  • Francesco Pesole
  • Rob Carnell

Reserve Bank of Australia's big decision: to hike by 25bp or 50bp?

The Reserve Bank of Australia (RBA) faces a dilemma at its forthcoming meeting. To hike by 25bp or 50bp? We feel the odds are stacking up firmly for 50bp. Even in the event of a hawkish surprise, expect very limited benefits for AUD in the near term

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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