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.

Padhraic Garvey ... (+2)
  • Padhraic Garvey
  • CFA

Fixed:Float Monitor/Receivers are an option again for SOFR, while for ...

• The back up in SOFR rates has swung receivers back into cumulative positive carry • The carry in receivers is not dramatic, but offers opportunity if floaters are sought • Euribor rates have risen by less, and we continue to find that payers are attractive • Euribor payers are cumulative negative in carry, but low lock-in rates look tame

James Smith
  • James Smith

THINK Ahead: Rummaging around in the undergrowth

I'm in natural world mode this week, like a wildlife documentary maker, desperately seeking out signs of growth and optimism. There were sightings in Europe earlier this year, but both are now on the endangered species list. So, I've got my magnifying glass out again as I look ahead to next week

Lynn Song ... (+3)
  • Lynn Song
  • Min Joo Kang
  • Rob Carnell

Asia week ahead: Central bank meetings, inflation releases and a data ...

A deluge of data from China, multiple central bank meetings and inflation data make for a busy week ahead in Asia

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

Technical Analysis/TTF Natural Gas

The weekly chart shows a consolidation this week after last week's close at €40.98/MWh was slightly above the horizontal resistance around the €40.50/MWh level. This break suggests that higher prices are just a matter of time, expecting a rally towards the next strong resistance area in the weekly chart between the slowly declining EMA-200 line at €50.17/MWh and the horizontal line around €54.45/MWh. A test of this resistance area should be part of the development of a large sideways range betwe...

Ewa Manthey
  • Ewa Manthey

Gold Monthly: US rate cut drives gold rally

The highly awaited US interest rate cut finally materialised in September driving gold prices to a new record. We believe the bullish macro picture combined with safe-haven demand amid an escalation of tensions in the Middle East and the ongoing war in Ukraine will drive gold to new highs

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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