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.

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Ticker Underlying First Report Latest Report
000174278 US75950V2025 Reliance Power Ltd 2018/04/17 2018/04/17
002508 CNE100000WY9 Hangzhou Robam Appliances (A) 2018/08/21 2018/08/23
02888 GB0004082847 Standard Chartered PLC 2018/05/23 2018/09/21
108W ZAE000134961 ArcelorMittal South Africa Ltd 2018/01/31 2018/08/01
182A JE00B5N88T08 Marshall Monteagle 2018/01/30 2018/05/15
18BJ ZAE000204566 Ascension Properties Ltd A 2018/01/30 2018/04/19
3NY1 BE0003876936 Nyrstar 2018/09/21 2019/05/27
53812 BE0003801181 Ageas N.V. 2018/09/20 2019/11/06
539009 INE003Q01012 Gujarat Bitumen 2018/03/16 2018/05/04
600690 CNE000000CG9 Qingdao Haier (A) 2018/12/13 2018/12/13
600797 CNE000000PH9 Insigma Technology Co. Ltd. A 2018/08/22 2018/08/22
861873 DE0008618737 BP PLC 2019/05/22 2019/05/22
A0CA8L NL0000400653 Gemalto NV 2018/06/04 2018/06/04
A0G9C0 DE000A0G9C05 iNAV Market Access ABN AMRO RICI 2018/07/31 2019/10/29
A0JMZB NL0000009355 Unilever NV (Dutch Cert) 2018/10/05 2019/10/17
A0M8WR DE000A0M8WR1 RR Analysis BOERSEBIUS MX Universal 2019/03/01 2019/03/01
A14V70 NL0011279492 Flow Traders 2018/01/29 2019/11/06
A1C8V6 ES0175281031 Seboruco S.A. 2019/09/12 2019/09/12
A1W3V1 IE00BC7GZW19 SPDR Barclays 0-3 Year Euro Corp Bond UCITS ETF 2019/05/17 2019/05/17
A1XFFA ES0105015012 Lar Espana Real Estate SOCIMI SA 2018/12/04 2019/07/30
A2JE9V ZAE000174124 Barclays Africa Group Ltd 2018/02/23 2018/04/26
A2JH5S FR0000124711 WFD Unibail-Rodamco 2018/07/23 2019/08/01
AALB NL0000852564 Aalberts NV 2018/05/30 2019/09/09
AATRL US00170F2092 AMG Capital Trust II Pfd. 2018/02/22 2018/05/03
ABG/H CA00170B1094 AMG Bioenergy Resources Holdin 2018/06/14 2018/06/14
ABI BE0974293251 Anheuser-Busch InBev 2018/10/02 2019/10/11
ABN NL0011540547 ABN AMRO Bank NV 2018/05/16 2019/11/13
ABNRY US00373L1026 ABN Amro Group N.V 2018/01/16 2018/05/14
AC8 AU000000AC89 AUSCANN GROUP HOLDINGS 2018/05/17 2019/08/02
ACCEL NL0009767532 Accell Group N.V. 2018/07/13 2019/07/19
ACKAY US03937X1090 ARCELIK 2018/01/31 2018/04/27
ACKB BE0003764785 Ackermans & Van Haaren N.V. 2018/05/25 2019/09/17
ACOMO NL0000313286 Amsterdam Commodities N.V. 2019/02/15 2019/07/19
AD NL0011794037 Ahold Delhaize 2018/01/16 2018/08/08
ADJ LU1250154413 ADO Properties SA 2018/09/18 2019/08/19
ADRNY US5004675014 Koninklijke Ahold Delhaize ADR 2018/02/20 2018/05/09
AEBZY US0325232017 Anadolu Efes Biracilik ve Malt Sanayi A.S. ADS 2018/05/09 2018/05/09
AED BE0003851681 Aedifica 2018/05/17 2019/07/10
AED16 BE0970154572 Aedifica NV 2018/01/30 2018/02/22
AEG. ARDEUT112398 Aegon N.V. 2018/06/20 2018/07/03
AENF US0079241032 Aegon N.V. ADS 2018/02/15 2018/08/16
AF FR0000031122 Air France-KLM 2018/10/31 2019/10/31
AFLYY US0091191082 Air France-KLM ADS 2018/05/04 2018/05/07
AGESY US00844W2089 Ageas N.V. ADS 2018/02/09 2018/05/10
AGFB BE0003755692 Agfa-Gevaert N.V. 2018/10/24 2019/11/06
AGN NL0000303709 Aegon N.V. 2018/01/12 2019/11/04
AGS BE0974264930 Ageas 2018/05/16 2018/08/10
AHS. CA0209261019 Alta Natural Herbs & Supplements Ltd. 2018/06/05 2019/05/17
AIG. ARDEUT110640 American International Group Inc. CEDEAR 2019/05/29 2019/05/29
AKBNK TRAAKBNK91N6 Akbank T.A.S. 2018/06/08 2019/04/29
AKBTY US0097195012 Akbank T.A.S. ADS 2018/02/01 2018/04/26
AKU1 NL0000009132 Akzo Nobel N.V. 2018/01/10 2019/10/23
AL8 AU000000AL88 Alderan Resources 2019/06/17 2019/11/08
ALBMP US0103924884 Alabama Power Co 2018/02/20 2018/02/21
ALDAR AEA002001013 Aldar Properties PJSC 2018/05/25 2018/05/25
AMG NL0000888691 AMG Advanced Metallurgical Group N.V. 2018/09/19 2019/10/31
AMGN US0311621009 Amgen Inc. 2018/03/08 2018/08/02
AMGN34 BRAMGNBDR004 AMGEN-BDR 2018/07/25 2018/09/06
AMI AU000000AMI1 Aurelia Metals 2018/05/16 2018/05/29
APAML LU0569974404 Aperam S.A. 2018/08/01 2019/11/07
APEMY US03754H1041 Aperam S.A. NY Reg Shs 2018/01/31 2018/05/10
ARCAD NL0006237562 Arcadis N.V. 2018/01/10 2019/10/24
ARCAY US03923E1073 ARCADIS N.V. 2018/02/15 2018/04/19
ARCLK TRAARCLK91H5 Arcelik A.S. 2019/01/31 2019/05/03
ARM ES0105376000 Arima Real Estate SOCIMI SA 2019/05/28 2019/07/30
ARMT34 BRARMTBDR008 ArcelorMittal BDR 2018/05/29 2018/09/11
ASC BE0003856730 Ascencio 2018/01/30 2019/08/09
ASM NL0000334118 ASM International N.V. 2018/07/25 2019/11/04
ASMIY USN070451026 ASM International N.V. 2018/03/01 2018/04/20
ASML USN070592100 ASML Holding N.V. 2018/01/17 2018/09/03
ATS VN000000ATS6 Atesco Industrial Cartering 2018/04/11 2018/04/11
AVTX NL0012047823 Avantium NV 2018/01/15 2019/11/08
AXB US05462W1099 Axis Bank Ltd (GDR) 2018/06/25 2018/06/25
BALTA BE0974314461 Balta Group 2018/03/01 2019/11/06
BAMNB NL0000337319 Koninklijke BAM Groep N.V. 2018/11/06 2019/11/04
BANKBARODA INE028A01039 Bank of Baroda Ltd. 2018/06/25 2018/06/25
BAR BE0003790079 Barco N.V. 2018/07/19 2019/10/23
BBAR ARP125991090 Banco BBVA Argentina SA 2018/10/30 2019/03/01
BBED NL0000339703 Beter Bed Holding N.V. 2018/01/19 2019/07/19
BBVACOL COB13PA00019 BBVA Colombia 2018/09/21 2018/09/21
BCG VN000000BCG5 Bamboo Capital 2018/05/02 2018/05/03
BCNAY US06740E1010 BarcoNew N.V. 2018/02/08 2018/02/08
BCS. ARDEUT111770 Barclays PLC CEDEAR 2018/05/22 2018/11/02
BEFB BE0003678894 Befimmo S.C.A. 2018/01/30 2019/07/19
BEKB BE0974258874 Bekaert S.A. N.V. 2018/01/22 2018/09/10
BFIT NL0011872650 Basic Fit N.V. 2018/03/13 2018/04/23
BGAOY US74428W1080 Proximus ADR 2018/03/02 2018/05/04
BIGBLOC INE412U01017 Bigbloc Construction 2018/05/09 2018/05/09
BINCK NL0000335578 BinckBank N.V. 2018/01/22 2019/08/09
BMK CA5543243011 MacDonald Mines Exploration Ltd. 2019/07/18 2019/10/25
BOKA NL0000852580 Koninklijke Boskalis Westminster N.V. 2018/07/13 2019/11/04
BOTX US09852W1099 Bontex Inc 2018/01/31 2018/05/09
BP. ARDEUT110582 BP PLC (ADS) 2018/06/25 2019/06/13
BP.N US0556221044 BP PLC ADS 2018/05/02 2018/05/02
BPOST BE0974268972 bpost SA 2018/06/21 2019/11/07
BPOSY US05578W1009 bpost NV 2018/02/05 2018/05/03
BRIO ARBRIO010194 Banco Santander Rio B 2019/02/12 2019/03/01
BRNL NL0010776944 Brunel International N.V. 2018/02/23 2018/08/14
BSANTANDER CLP1506A1070 Banco Santander-Chile 2018/09/21 2018/09/21
BSGR LU1789205884 B&S Group S.A. 2018/05/02 2019/11/04
BSI NL0000339760 BE Semiconductor Industries N.V. 2018/07/26 2019/10/24
BVT USY097891193 Reliance Infrastructure Ltd. GDR 2018/04/04 2018/04/05
BYW DE0005194005 Baywa AG 2019/05/24 2019/05/24
CA FR0000120172 Carrefour S.A. 2018/07/02 2019/11/13
CABGY US1427952023 Carlsberg 2018/05/01 2018/05/01
CAN AU000000CAN2 Cann Group 2018/07/19 2019/10/29
CANBK INE476A01014 Canara Bank 2018/06/25 2018/06/25
CARL A DK0010181676 Carlsberg A/S 2018/08/16 2018/08/16
CARL B DK0010181759 Carlsberg A/S B 2018/10/25 2019/08/09
CCOLA TRECOLA00011 Coca-Cola Icecek Uretim AS 2018/08/31 2018/08/31
CFEB BE0003883031 Cie d'Entreprises CFE 2018/01/11 2019/04/11
CLB NL0000200384 Core Laboratories N.V. 2018/02/01 2019/10/24
CO FR0000125585 Casino Guichard-Perrachon et Cie. S.A. 2018/06/12 2019/06/27
COFB BE0003593044 Cofinimmo S.A. 2018/01/30 2019/07/26
COFP2 BE0003813301 Cofinimmo Pfd B 2018/05/25 2018/09/12
COL ES0139140174 Inmobiliaria Colonial S.A. 2018/07/27 2019/07/30
COLR BE0974256852 Colruyt 2018/01/18 2018/01/18
COV FR0000064578 Covivio 2018/10/25 2019/07/24
CRES IT0005136681 Coima Res 2018/02/22 2019/07/26
CRRFY US1444302046 Carrefour 2018/04/26 2018/04/26
CSM NL0010583399 Corbion NV 2018/06/04 2018/08/08
CSNVY US2183331022 Corbion N.V. 2018/02/15 2018/04/26
DANSKE DK0010274414 Danske Bank A/S 2018/07/20 2019/10/30
DBK DE0005140008 Deutsche Bank AG 2019/02/01 2019/11/12
DECB BE0003789063 Deceuninck S.A. 2018/02/22 2019/10/31
DIE BE0974259880 D'Ieteren N.V. S.A. 2018/05/30 2018/09/04
DSM NL0000009827 Royal DSM 2018/10/31 2019/11/05
DT. ARDEUT111838 Deutsche Telekom AG CEDEAR 2018/05/24 2018/09/14
DTE DE0005557508 Deutsche Telekom AG 2018/06/22 2019/11/07
DTEA US2515661054 Deutsche Telekom AG ADS 2018/04/27 2018/05/09
DWNI DE000A0HN5C6 Deutsche Wohnen SE 2018/09/18 2019/08/19
DWS DE000DWS1007 DWS Group 2018/05/02 2019/04/26
DWS0D2 DE000DWS0D27 DWS Aktien Schweiz 2019/01/29 2019/11/04
DWSK00 LU0599946893 Dws Concept Kaldemorgen-Lc 2018/07/11 2019/10/30
EBY. CA2909291080 Emerald Bay Energy Inc. 2018/10/24 2018/10/24
ECIFY US2850391036 Electricite de France SA 2018/06/07 2019/09/25
ECL. CL0001583070 Engie Energia Chile SA 2018/09/18 2018/09/18
ECMPA NL0000288876 EuroCommercial Ppty 2018/09/19 2019/07/29
ECONT BE0974313455 Econocom Group 2018/01/25 2018/09/07
EGIE3 BREGIEACNOR9 Engie Brasil 2018/07/16 2019/05/14
EGIEY US29286U1079 Engie Brasil SA 2018/03/08 2018/05/15
ELI BE0003822393 Elia System Operator 2018/11/22 2019/10/21
ENEL IT0003128367 Enel 2018/06/06 2019/10/11
ENERSIS CLP371861061 Enel Americas S.A. 2018/06/05 2019/05/29
ENGI FR0010208488 Engie 2018/06/19 2019/09/02
ENGIY US29286D1054 ENGIE SA 2018/05/01 2018/05/01
ENIC US29278D1054 Enel Chile S.A. ADS 2018/01/29 2018/04/09
ENX NL0006294274 Euronext 2018/01/11 2019/11/08
EOAA US2687801033 E.ON SE 2018/11/14 2018/11/14
EOAN DE000ENAG999 E.ON SE 2018/08/08 2019/09/05
EON. ARDEUT112109 E.ON AG 2018/08/28 2019/05/13
ESME5 ARESME010014 Bodegas Esmeralda A (5 votes) 2018/11/08 2019/03/04
EURN BE0003816338 Euronav 2018/01/25 2019/10/29
EVS BE0003820371 EVS Broadcast Equipment S.A. 2018/05/17 2019/09/16
EVSBY US2692711029 EVS Broadcast Equipment SA 2018/02/22 2018/02/22
EXM BE0003808251 Exmar N.V. 2018/05/15 2019/10/28
FAGR BE0003874915 Fagron 2018/01/11 2019/10/14
FAST NL0010732244 Fastned 2019/10/08 2019/10/08
FBMC3 BRFBMCACNOR3 Companhia Industrial Fibam Ord 2018/06/05 2018/06/05
FDX.. ARDEUT110962 FedEx Corp. CEDEAR 2019/09/18 2019/09/18
FEET GB00BLSNND18 Fundsmith Emerging Equities Trust 2018/05/18 2018/08/01
FLUX BE0974265945 Fluxys Belgium 2018/04/04 2019/10/01
FNCN3 BRFNCNACNOR6 Finansinos 2018/07/19 2018/08/16
FNG BE0974332646 Fng NV 2018/09/18 2019/10/11
FORTUM FI0009007132 Fortum Oyj 2018/07/19 2019/10/24
FUR NL0000352565 Fugro N.V. 2018/02/22 2019/11/13
GARAN TRAGARAN91N1 Turkiye Garanti Bankasi A.S. 2019/02/04 2019/05/01
GBBL NPE053A00006 Garima Bikas Bank Ltd. 2018/03/08 2018/03/08
GBLB BE0003797140 Groupe Bruxelles Lambert 2018/11/01 2019/11/01
GEGYY US3687051090 GENEL ENERGY PLC 2018/02/15 2018/02/15
GENL JE00B55Q3P39 Genel Energy 2018/08/22 2018/10/23
GFC FR0010040865 Gecina 2018/06/15 2019/07/19
GFCDS FR0013270014 Gecina 2018/02/22 2018/05/04
GIMB BE0003699130 GIMV N.V. 2018/02/22 2019/09/05
GNLKQ US36870F1075 GeneLink Inc. 2018/03/23 2018/03/23
GVNV NL0010937066 Grandvision B.V. 2018/04/25 2019/10/30
HEIA NL0000009165 Heineken N.V. 2018/10/24 2019/11/08
HEIJM NL0009269109 Heijmans N.V. Cert, 2018/02/21 2018/08/16
HEINY US4230123014 Heineken N.V 2018/02/12 2018/04/18
HOMI BE0003760742 Home Invest Belgium 2018/01/30 2019/06/26
HON. ARDEUT110038 Honeywell International Inc. CEDEAR 2018/07/26 2019/07/05
HPVBF ES0105019006 HISPANIA ACTIVOS INMOBILIARIOS SAU 2018/03/01 2018/06/22
HSBA GB0005405286 HSBC Holdings PLC (UK Reg) 2018/01/19 2019/01/11
HSBC.. ARDEUT112257 HSBC Holdings PLC CEDEAR 2018/06/12 2018/06/12
HSBCN US4042804066 HSBC Holdings PLC 2018/04/26 2018/05/04
HSBCpA US4042806046 HSBC Holdings PLC ADS (Rep 1/4 of a share of 6.20% Non-Cum $ Pref. shares Series A) 2018/02/20 2018/02/20
IBAB BE0003766806 Ion Beam Applications S.A. 2018/01/08 2019/10/24
IBDRY US4507371015 Iberdrola S.A. ADS 2018/02/21 2018/04/18
IBE ES0144580Y14 Iberdrola S.A. 2018/05/18 2019/10/30
IBN. ARDEUT114048 ICICI Bank CEDAR 2018/06/25 2018/06/25
IDBI INE008A01015 IDBI Bank 2018/06/25 2018/06/25
IFIC BD0103IFIC07 International Finance Investment & Commerce Bank Ltd 2018/11/12 2019/03/29
IGY DE000A2AADD2 Innogy SE 2018/06/14 2019/08/09
IMMO BE0003599108 Immobel SA 2018/03/14 2019/04/01
INNYY US45782L1026 Innogy SE 2018/03/14 2018/05/14
INTO BE0003746600 Intervest Offices & Warehouses 2019/04/10 2019/08/01
INX NL0010801007 IMCD Group NV 2018/02/01 2019/11/12
ISO AU000000ISO9 iShares S&P/ASX Small Ordinaries ETF 2018/08/02 2018/08/06
ISP IT0000072618 Intesa Sanpaolo 2018/09/27 2019/03/01
ITAU4. ARITAU110102 Itau Unibanco Holding S.A. Cedear Pref 2018/05/29 2018/05/29
KA NL0000362648 KAS Bank N.V. 2018/09/06 2019/09/05
KBC BE0003565737 KBC Bankverzekeringsholding N.V. 2018/11/02 2019/10/29
KBCA BE0003867844 KBC Ancora 2018/01/29 2019/09/02
KBCSY US48241F1049 KBC Groep NV 2018/01/31 2018/04/25
KENDR NL0000852531 Kendrion NV 2018/02/20 2019/11/04
KIN BE0974274061 Kinepolis Group 2018/02/28 2018/08/23
KKPNY US7806412059 Royal KPN N.V. ADS 2018/01/31 2018/04/27
KNBL NPE069A00002 Kankai Bikas Bank Ltd. 2018/03/29 2018/03/29
KPN NL0000009082 Royal KPN N.V. 2018/05/31 2019/11/07
KVW NL0012294466 Koninklijke VolkerWessels 2018/03/14 2019/10/11
LEAS BE0003770840 Leasinvest Real Estate 2018/01/30 2019/06/26
LEG DE000LEG1110 LEG Immobilien AG 2018/09/18 2019/08/09
LIGHT NL0011821392 Signify NV 2018/02/02 2019/10/25
LOTB BE0003604155 Lotus Bakeries N.V. 2019/02/06 2019/08/20
LVMUY US5024413065 LVMH MOET HENNESSY 2018/04/10 2018/04/10
MC FR0000121014 LVMH Moet Hennessy Louis Vuitton SE 2018/10/10 2019/04/11
MCD. ARDEUT110269 McDonald's Corp. CEDEAR 2018/08/01 2018/08/03
MCDC34 BRMCDCBDR000 McDonald's Corp. BDR 2019/04/29 2019/05/03
MELE BE0165385973 Melexis N.V. 2018/02/07 2019/10/23
MERLIN ES0105025003 Merlin Properties Socimi SA 2018/02/28 2019/07/31
MONT BE0003853703 Montea C.V.A. 2018/08/21 2019/08/09
MRU CA59162N1096 Metro Inc. 2019/10/11 2019/10/30
MTL LU0323134006 ArcelorMittal 2018/10/04 2019/11/07
NDA DK FI4000297767 Nordea Bank Abp 2019/04/30 2019/10/01
NDA DKK SE0000427361 Nordea Bank Abp 2018/07/20 2018/12/21
NER US29274F1049 Enersis SA (ADR) 2018/01/30 2018/04/18
NG. GB00BDR05C01 National Grid 2019/07/05 2019/07/05
NGG US6362744095 National Grid Plc 2018/05/02 2018/05/02
NGG. ARDEUT112620 National Grid PLC CEDEAR 2018/05/17 2019/05/24
NIBC NL0012756316 NIBC HOLDING N.V. 2018/04/06 2019/11/05
NIUWF NL0000292324 NSI NV 2018/09/19 2019/07/18
NNGRY US6293341037 NN Group NV 2018/02/15 2018/04/23
NSU CA64156L1013 Nevsun Resources 2018/07/18 2018/09/03
NVJP BE0003884047 Umicore 2018/06/06 2019/10/25
NYRSY US67077R2067 Nyrstar NV 2018/02/22 2018/05/03
O2D DE000A1J5RX9 Telefonica Deutschland Holdings 2018/06/26 2019/11/12
OBEL BE0003735496 Orange Belgium 2018/02/06 2019/10/29
OCBI US68417L1070 Orange County Bancorp 2018/02/21 2018/04/26
ONTEX BE0974276082 Ontex Group NV 2018/05/22 2019/11/06
ORAN. ARDEUT111861 Orange 2018/07/05 2018/07/05
ORDI NL0000440584 Ordina N.V. 2018/02/15 2019/08/02
OREG EGS48011C018 Orange Egypt For Telecommunications 2018/07/16 2018/07/26
PEN AU000000PEN6 Peninsula Energy 2018/10/26 2018/10/26
PHIA NL0000009538 Koninklijke Philips 2018/10/22 2019/10/28
PNL NL0009739416 PostNL 2018/01/18 2018/09/13
PNLYY US73753A1034 TNT N.V. ADS 2018/02/05 2018/05/15
PROX BE0003810273 Proximus 2018/07/02 2019/10/25
PSTNY US73753A2024 PostNL N.V. 2018/02/26 2018/02/27
PUMA ZM0000000185 Puma Energy Zambia PLC 2018/04/24 2018/04/24
QFG BE0003730448 Quest for Growth 2018/01/26 2019/07/26
RAND NL0000379121 Randstad NV 2018/06/11 2019/11/11
RANJY US75279Q1085 Randstad NV 2018/02/05 2018/04/24
RBI AT0000606306 Raiffeisen Bank International 2018/08/22 2019/08/02
RBS.GB US74927PAA75 RBS Capital Trust II 2018/02/23 2018/04/18
RBS3832060 USU7533YAA11 RBS Capital Trust B 2018/04/27 2018/04/27
RBWNY US78012M1036 Koninklijke Boskalis Westminster NV 2018/03/21 2018/04/24
RDED US7595301083 RELX PLC 2018/01/29 2018/01/29
RDSB GB00B03MM408 Royal Dutch Shell B 2018/01/12 2019/10/31
RDSMY US7802491081 Koninklijke DSM N.V. ADS 2018/05/08 2018/05/08
RDTX ID1000067200 Roda Vivatex 2019/01/25 2019/09/19
REC BE0003656676 Recticel S.A. 2018/01/18 2019/11/08
REN NL0006144495 Relx NV 2018/10/25 2019/10/24
RENX US75955B1026 Reed Elsevier N.V. ADS 2018/02/15 2018/04/05
RET BE0003720340 Retail Estates 2018/01/30 2019/07/29
REUS LU0562665777 RBS Market Access Euro Stoxx50 Monthly Double Short Index ETF 2018/07/17 2019/08/02
RFFRY US75865A1034 Refresco Group N.V. 2018/01/23 2018/01/23
RI FR0000120693 Pernod Ricard S.A. 2018/08/29 2019/04/18
RS US7595091023 Reliance Steel & Aluminum Co. 2018/02/26 2018/03/23
RWE DE0007037129 RWE AG 2018/11/19 2019/07/05
RWEOY US74975E3036 RWE AG ADS 2018/03/13 2018/04/30
SAN ES0113900J37 Banco Santander 2019/04/16 2019/04/17
SANB11 BRSANBCDAM13 Banco Santander Brasil 2019/04/30 2019/09/25
SBBLJ NPE094A00000 Sahayogi Bikas Bank Ltd 2018/04/25 2018/04/25
SBFFY US78404D1090 SBM Offshore N.V 2018/02/05 2018/05/10
SBMO NL0000360618 SBM Offshore 2018/01/18 2019/11/08
SCZ ZM0000000094 Standard Chartered Bank Zambia Plc 2018/02/27 2018/05/02
SEV FR0010613471 Suez 2018/07/26 2019/04/26
SGLN ZAE000243572 Sibanye Gold Limited 2018/03/22 2018/05/09
SHB A SE0007100599 Svenska Handelsbanken Series A, 2019/09/12 2019/09/13
SHFF ZAE000068367 Steinhoff Invest Hld Prf 2018/03/23 2018/03/23
SID US8565522039 State Bank of India GDR 2018/06/25 2018/06/25
SIOE BE0003743573 Sioen Industries N.V. 2019/05/29 2019/11/13
SIP9 BE0970155587 Sipef 2018/02/15 2018/02/15
SK FR0000121709 SEB S.A., 2018/07/20 2018/07/20
SLIGR NL0000817179 Sligro Food Group N.V. 2018/01/25 2019/10/17
SNMRY US78460A1060 Snam S.p.A. 2018/04/20 2018/04/20
SOBS US83441Q1058 Solvay Bank Solvay N Y 2018/05/03 2018/05/03
SOLB BE0003470755 Solvay S.A. 2018/07/31 2019/11/13
SOLVY US8344373035 SOLVAY S A 2018/02/28 2018/02/28
SPCL BD0317SBPCL4 Shahjibazar Power 2018/08/23 2018/08/23
SSPC US84832P1021 SpendSmart Networks Inc 2018/02/14 2018/04/12
STKF3 BRSTKFACNOR5 STATKRAFT ON 2019/09/02 2019/09/02
SWED A SE0000242455 Swedbank AB Series A 2018/07/20 2019/09/12
SYNDIBANK INE667A01018 Syndicate Bank Ltd. 2018/06/25 2018/06/25
SZCD US8646902010 Suez Cement 2018/03/01 2018/04/11
TEAM BE0003852697 Team International Marketing N.V. 2018/08/03 2018/08/03
TEF ES0178430E18 Telefonica S.A. 2018/12/13 2019/10/07
TEF... US8793822086 Telefonica S.A. (ADS) 2018/02/22 2018/04/26
TEFO ARDEUT110574 Telefonica S.A. (ADS) 2018/10/23 2019/05/27
TEL NO0010063308 Telenor ASA 2018/07/17 2019/09/10
TELIA SE0000667925 Telia Co AB 2018/07/20 2019/10/17
TESB BE0003555639 Tessenderlo Group NV 2018/03/14 2019/08/27
TI. ARDEUT112059 Telecom Italia S.p.A. CEDEAR 2018/05/17 2019/10/29
TI.. US87927Y1029 Telecom Italia S.p.A. ADS 2018/03/12 2018/05/07
TI/A US87927Y2019 Telecom Italia S.p.A. ADS 2018/02/23 2018/04/05
TKC US9001112047 Turkcell Iletisim Hizmetleri A.S. ADS 2018/04/25 2018/04/25
TKGBY US9001487019 Turkiye Garanti Bankasi (ADS) 2018/02/01 2018/02/01
TKWY NL0012015705 Takeaway.com Holding N.V. 2018/07/27 2019/11/11
TLGHY US8794821079 Telenet Group Holding N.V. ADS 2018/02/13 2018/05/03
TMOAY US8901381009 Tomtom NV 2018/02/06 2018/04/17
TNET BE0003826436 Telenet Group Holding NV 2018/10/30 2019/10/31
TOM2 NL0000387058 TomTom B.V. 2018/01/10 2019/10/16
TRKNY US90011Q1004 Turk Telekomunikasyon AS 2018/02/12 2018/05/09
TSCO GB0008847096 Tesco PLC 2018/10/03 2019/06/26
TSGYO TRETSGY00016 TSKB Gayrimenkul Yatirim ORT 2018/05/16 2018/05/16
TSP.N US87936R1068 Telecomunicacoes de Sao Paulo S/A ADS 2018/02/07 2018/03/09
TTKOM TRETTLK00013 Turk Telekomunikasyon AS 2018/07/25 2018/07/25
TVI TH0311010Z01 Thaivivat Insurance PCL 2018/02/28 2018/02/28
TWEKA NL0000852523 TKH GROUP N.V 2018/05/02 2019/09/09
UCB BE0003739530 UCB S.A. 2019/04/03 2019/04/03
UCBJY US9034801012 UCB SA 2018/02/22 2018/04/05
UCD_u CA31864H1029 First Asset Advantaged Morningstar U.S.Consumer Defensive Index Fund 2018/07/02 2018/07/02
UMI BE0974320526 Umicore S.A. 2018/05/30 2018/07/31
UMICY US90420M1045 Umicore 2018/04/27 2018/04/27
UN. ARDEUT112091 Unilever N.V. CEDEAR Ord 2018/05/31 2018/05/31
UNIN US9047847093 Unilever N.V. 2018/07/06 2018/09/11
UNIONBANK INE692A01016 Union Bank of India 2018/06/25 2018/06/25
UNLC CI0000000287 Unilever Cote D`Ivore 2018/02/01 2018/04/19
UNRDY US9045871020 Unibail-Rodamco S.A. ADS 2018/02/01 2018/04/24
VALL SC9624EAEE92 Valdepusa Limited 2018/01/30 2018/05/04
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YKBNK TRAYKBNK91N6 Yapi ve Kredi Bankasi A.S. 2019/02/05 2019/05/08

Analysts

  • Albert Ploegh, CEFA

    N/A
  • Prakash Sakpal

    N/A
  • Marc Zwartsenburg, CEFA

    N/A
  • Roelof-Jan van den Akker

    N/A
  • Martin van Vliet

    N/A
  • Maureen Schuller

    N/A
  • Egor Fedorov

    N/A
  • Chris Turner

    N/A
  • Warren Lau

    N/A
  • Dimitry Fleming

    N/A
  • Anna Palmer

    N/A
  • Peter Krpata

    N/A
  • Joey Cuyegkeng

    N/A
  • Carsten Brzeski

    N/A
  • Jeroen van den Broek

    N/A
  • Mark Cliffe

    N/A
  • Job Veenendaal

    N/A
  • Ciprian Dascalu

    N/A
  • James Knightley

    N/A
  • Marina Zavgorodnyaya

    N/A
  • Quentin Gilletta de Saint Joseph

    N/A
  • Benjamin Schroeder

    N/A
  • Geoffrey Minne

    N/A
  • Hamza Khan

    N/A
  • Jakub Seidler

    N/A
  • Gustavo Rangel

    N/A
  • Adele Kleinhans

    N/A
  • Ajay Supeda

    N/A
  • Tijs Hollestelle

    N/A
  • Raiz Riyal

    N/A
  • Bruce Mckenzie

    N/A
  • ING Helpdesk

    N/A
  • Giel-Jan Triest

    N/A
  • Padhraic Garvey

    N/A
  • Hendrik Wiersma

    N/A
  • Marina Le Blanc

    N/A
  • Nadège Tillier

    N/A
  • Suvi Platerink Kosonen

    N/A
  • Petr Krpata

    N/A
  • Viraj Patel

    N/A
  • Warren Patterson

    N/A
  • Peter Virovacz

    N/A
  • Iris Pang

    N/A
  • Muhammet Mercan

    N/A
  • Peter Vanden Houte

    N/A
  • Rob Carnell

    N/A
  • Jakub Rybacki

    N/A
  • Karol Pogorzelski

    N/A
  • Piotr Poplawski

    N/A
  • Rafal Benecki

    N/A
  • Julien Manceaux

    N/A
  • James Smith

    N/A
  • Jonas Goltermann

    N/A
  • Rosine van Velzen

    N/A
  • Reginald Watson, CFA

    N/A
  • Matthias Maenhaut

    N/A
  • Oliver Nugent

    N/A
  • Inga Fechner

    N/A
  • Dmitry Polevoy

    N/A
  • Quirijn Mulder

    N/A
  • Stijn Demeester

    N/A
  • Timme Spakman

    N/A
  • Nick Smallwood

    N/A
  • Jaap Kuin

    N/A
  • Pieter Runneboom

    N/A
  • Steven Trypsteen

    N/A
  • Bert Colijn

    N/A
  • Paolo Pizzoli

    N/A
  • Petr Krpata, CFA

    N/A
  • Philippe Ledent

    N/A
  • Valentin Tataru

    N/A
  • Joanna Konings

    N/A
  • Padhraic Garvey, CFA

    N/A
  • Raoul Leering

    N/A
  • Research Department

    N/A
  • Charlotte de Montpellier

    N/A
  • Chuck Horvath

    N/A
  • Fiona Campbell

    N/A
  • Marcel Klok

    N/A
  • Trieu Pham

    N/A
  • David Vagman, CFA

    N/A
  • Teunis Brosens

    N/A
  • Carlo Cocuzzo

    N/A
  • Jason Ball, CFA

    N/A
  • Maurice van Sante

    N/A
  • Fleur Doidge

    N/A
  • Jessica Exton

    N/A
  • Ian Bright

    N/A
  • Marc Hesselink, CFA

    N/A
  • Nicky Mapa

    N/A
  • Philippe Maillot

    N/A
  • Maria Ferreira Sequeda

    N/A
  • Dmitry Dolgin

    N/A
  • Gerben Hieminga

    N/A
  • Sarka Plecakova

    N/A
  • Marieke Blom

    N/A
  • Tom Miller

    N/A
  • Maxime Stranart

    N/A
  • Rico Luman

    N/A
  • Thijs Geijer

    N/A
  • Anaam Raza

    N/A
  • Edse Dantuma

    N/A
  • Francesco Pesole

    N/A
  • Hans D’Haese

    N/A
  • Wenyu Yao

    N/A
  • Antoine Bouvet

    N/A
  • Iris Pang

    N/A
  • Prakash Sakpal

    N/A
  • Rob Carnell

    N/A
  • Maureen Schuller

    N/A
  • Roelof-Jan van den Akker

    N/A
  • Marc Zwartsenburg, CEFA

    N/A
  • Carsten Brzeski

    N/A
  • Benjamin Schroeder

    N/A
  • Padhraic Garvey, CFA

    N/A
  • Ciprian Dascalu

    N/A
  • Chris Turner

    N/A
  • Valentin Tataru

    N/A
  • Petr Krpata, CFA

    N/A
  • Jeroen van den Broek

    N/A
  • Warren Patterson

    N/A
  • James Smith

    N/A
  • Hendrik Wiersma

    N/A
  • Nadège Tillier

    N/A
  • Suvi Platerink Kosonen

    N/A
  • Trieu Pham

    N/A
  • Jakub Seidler

    N/A
  • Peter Virovacz

    N/A
  • James Knightley

    N/A
  • Jakub Rybacki

    N/A
  • Karol Pogorzelski

    N/A
  • Piotr Poplawski

    N/A
  • Rafal Benecki

    N/A
  • Paolo Pizzoli

    N/A
  • Julien Manceaux

    N/A
  • Tijs Hollestelle

    N/A
  • Bert Colijn

    N/A
  • Muhammet Mercan

    N/A
  • Raoul Leering

    N/A
  • Timme Spakman

    N/A
  • David Vagman, CFA

    N/A
  • Albert Ploegh, CEFA

    N/A
  • Gustavo Rangel

    N/A
  • Philippe Ledent

    N/A
  • Steven Trypsteen

    N/A
  • Charlotte de Montpellier

    N/A
  • Teunis Brosens

    N/A
  • Inga Fechner

    N/A
  • Mark Cliffe

    N/A
  • Stijn Demeester

    N/A
  • Peter Vanden Houte

    N/A
  • Egor Fedorov

    N/A
  • Alyssa Gammoudy

    N/A
  • Timothy Rahill

    N/A
  • Oleksiy Soroka, CFA

    N/A
  • Job Veenendaal

    N/A
  • Reginald Watson, CFA

    N/A
  • Quirijn Mulder

    N/A
ING
Iris Pang ...
  • Nicky Mapa
  • Prakash Sakpal
  • Rob Carnell

Good MornING Asia - 14 November 2019

After a disappointing GDP report from Japan and labour report from Australia this morning, all eyes are now on remaining Chinese activity data for October for what it says about the trade war impact on that economy.

ING
Rob Carnell

Japanese GDP grows 0.2%QoQ in 3Q19

There is no evidence of front-loading of spending ahead of the October consumption tax hike, but does this mean we will not see any fall off afterwards?

ING
Dmitry Dolgin

Russian GDP accelerates in 3Q on shaky grounds

Russian GDP growth accelerated from 0.9% year-on-year in 2Q to 1.7% YoY in 3Q, possibly on better exports and stockbuilding. A pickup in consumption and investments is still required to assure more sustainable improvement in the growth trend. This is more likely to happen later in 2020 than in the coming couple of quarters

ING
Roelof-Jan van den Akker

Daily FX Technical/Crucial currency pairs

AUD/JPY Long-term trend: Down. Strong resistance weekly chart between 74.45 and 75.50 Short-term trend: Up. Building momentum for the next rally AUD/NZD Long-term trend: Up. Bullish price pattern suggests long-term target around 1.1175 Short-term trend: Neutral. The horizontal resistance around 1.0855 is too strong AUD/USD Long-term trend: Down. Limited upside within bearish scenario with declining EMA-40 line at 0.6940 Short-term trend: Neutral. Prices topped around the upper end of the falling trend channel around 0.6930 EUR/CHF Long-term trend: Neutral. Bottoming above horizontal support ar...

ING
Maureen Schuller

What's up in Covered Bonds/Periphery covereds outperform after APP restart

This week saw the first statistics being published after the restart of the ECB's net purchases under the central bank's asset purchase programme. With €8,995m being added across the four different purchase programmes the central bank already reached 45% of its €20bn net monthly target after being back for one week.

ING
Warren Patterson ...
  • Wenyu Yao

The Commodities Feed: Renewed trade concerns weigh down metals

Your daily roundup of commodities news and ING views

ING
Warren Patterson ...
  • Wenyu Yao

The Commodities Feed: nickel extends losses

Your daily roundup of commodities news and ING views

ING
Warren Patterson ...
  • Wenyu Yao

The Commodities Feed: US active oil rigs fall to two-year low

Your daily roundup of commodities news and ING views

ING
Wenyu Yao

Why the tide could be turning for lead

Lead has been the second-best performer among LME base metals this year, but it's seen the biggest weekly losses this week faced with headwinds from China. Latest numbers show that weekly inventories have surged by 35%

ING
Warren Patterson ...
  • Wenyu Yao

The Commodities Feed: China crude imports at record high

Your daily roundup of commodities news and ING views

ING
Ciprian Dascalu

BriefING Romania/PSD meeting in the spotlight

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Marina Le Blanc
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/FCA's profit could double by 2020

FCA's (FCAIM) Sergio Marchionne indicated that the company's profit could double within 5 years. This will be driven by exploiting the further potential of the Jeep brand, according to the company's CEO in an interview with Bloomberg. Marchionne indicated that the Jeep brand could reach a market share of 20% of the global SUV market, equalling c.5m deliveries per year. FCA's guidance for this year includes an adjusted net profit of more than €3.0bn, an adjusted EBIT in excess of €7.0bn, net revenues of €115-120bn, with net industrial debt below €2.5bn. This guidance was reiterated. With Marchi...

ING
Joey Cuyegkeng

FM Manila View and Cues/Trade deficit larger than OFW remittances

• PHP: Underperformance last week on record trade deficit in November • FXTN: Enhanced government's cash position as liquidity returns • ROPs (& INDONs): Global ROP $2bn issue soon; Fundamentals remain steady

ING
Benjamin Schroeder ...
  • Martin van Vliet
  • Padhraic Garvey

Rates Strategy Spark - Week ahead: Time for a step back

Market view • The ECB has indicated it could shift it forward guidance sooner and US CPI surprised to the upside. With 10yr Bunds yields climbing to 0.60% and 10yr USTs to close to 2.60%, markets are contemplating whether this is the beginning of a larger bear market. While our base case indeed envisages moderately higher yields later this year, this week could offer some respite with less issuance, little data and the lingering risk of a US government shutdown. • Interestingly, spreads have proven more than just resilient. Peripheral spreads tightened by up to 20bp (PGBs) last week and semi-...

ING
Carsten Brzeski ...
  • Chris Turner
  • Ciprian Dascalu
  • Jakub Rybacki
  • James Knightley
  • Muhammet Mercan
  • Prakash Sakpal

Global Economic Calendar - The ING view on key data and events next week

ING
Roelof-Jan van den Akker

Daily FX Technical/Crucial currency pairs

AUD/JPY Long-term trend: Down. Strong resistance weekly chart between 74.45 and 75.50 Short-term trend: Up. Building momentum for the next rally AUD/NZD Long-term trend: Up. Bullish price pattern suggests long-term target around 1.1175 Short-term trend: Neutral. The horizontal resistance around 1.0855 is too strong AUD/USD Long-term trend: Down. Limited upside within bearish scenario with declining EMA-40 line at 0.6940 Short-term trend: Neutral. Prices topped around the upper end of the falling trend channel around 0.6930 EUR/CHF Long-term trend: Neutral. Bottoming above horizontal support ar...

ING
Jakub Seidler ...
  • Petr Krpata, CFA

EM FX & Rates Trader: Pay 6x9 CZK FRA Update/Hitting the stop loss as liquidity has dried up

We have been stopped out of our 6x9 CZK FRA paying recommendation (see EM FX & Rates Trader) and record a 10.5bp loss. The recent decline in CZK FRAs has been largely attributable to poor liquidity (and thus exaggerated moves) rather than to a change to the fundamental outlook for the CNB and front-end CZK rates. The CNB has made, in our view, a step closer to a hike early next year and we see current market pricing (at 3% probability of a 25bp hike over the next 6 months) as conspicuously inconsistent with the CNB stance and significantly underestimating the odds of a policy tightening early...

ING
Chris Turner ...
  • Francesco Pesole
  • Petr Krpata, CFA

Daily FX Strategy/GBP: Lower CPI won't matter much for sterling

Oct UK CPI inflation should decline to 1.5% YoY. Still, like the BoE meeting last week, the data should be of a secondary importance for GBP and the effect on the currency should be short-lived and limited. EUR/GBP 0.8600 resistance should hold today. All that matters for GBP at this point is the upcoming parliamentary elections. While the good news for GBP stemming for the Brexit party decision not to contend Conservative held seats is now in the price, should Nigel Farage make another concession and not compete in the Labour held marginal seats (FT reports the pressure is building on Farage ...

ING
Chris Turner ...
  • Francesco Pesole
  • Petr Krpata, CFA

Daily FX Strategy/Hanging on Trump's words

The positive newsflow on trade negotiations has continued after a report suggested President Trump may delay his decision on whether to levy tariffs on the European auto sector. Without any market-moving data releases on the agenda today, investors will focus on President Trump's scheduled speech at the Economic Club of New York. The hope is that Trump will shed some light on his trade policy in general and specifically on how close US and China are to a deal, possibly providing more details about the key points (tariff removals, intellectual property) as well as an indicative timeline. Withou...

ING
Francesco Pesole ...
  • Petr Krpata, CFA

FX Positioning: A risk-on mirror

In the week 30 Oct/05 Nov, speculative investors have tried to capitalise on the supported global risk sentiment, betting on cyclical currencies whilst adding some shorts in low yielders. The positioning short squeeze in AUD was particularly pronounced

ING
ING Helpdesk

Benelux Morning Notes

ABN AMRO: Mixed bag but taking management actions on NII. Colruyt: A food retail price war? Or not?. Dutch construction: Actions on Nitrogen & PFAS. Fugro: First step in divesting Seabed. Sioen Industries: new acquisition might be on sight

ING
Roelof-Jan van den Akker

Technical Analysis/Bund future is pausing above the EMA-200 line

The weekly close above the horizontal resistance barrier around 163.15,February this year, resulted in a resumption of the long-term uptrend. Prices topped around 176.80 in the beginning of September, showing a pull-back within the long-term uptrend. The recent close below the 12 month steep rising trend line around 171.70 confirms an extension of the consolidation pattern within the long-term uptrend. Prices arrived at the EMA-40 line at 169.28 with solid horizontal support coming in around 168.70, suggesting a recovery should be expected.

ING
Stijn Demeester

Solvay/3Q19 postview: Value over time/BUY

Post strategy review, we believe Solvay's reset target of ‘mid-single digit' EBITDA growth over the next five years has more credibility while we we continue to see divestment potential, although not imminent, in the newly created Solutions division (38% of sales, 32% of EBITDA). We lower our target price from €122 to €120, driven by a c.3% cut to our 2020F EBITDA estimates but reiterate our Buy on the back of attractive valuation. At 7x 2020F EV/EBITDA, Solvay trades at a discount of 20% to diversified chemicals and 40% to specialty peers.

ING
Roelof-Jan van den Akker

Technical Analysis/Still expecting a short-term bottom in the Bund future

The weekly close above the horizontal resistance barrier around 163.15,February this year, resulted in a resumption of the long-term uptrend. Prices topped around 176.80 in the beginning of September, showing a pull-back within the long-term uptrend. The recent close below the 12 month steep rising trend line around 171.70 confirms an extension of the consolidation pattern within the long-term uptrend. Prices arrived at the EMA-40 line at 169.28 with solid horizontal support coming in around 168.70, suggesting a recovery should be expected.

ING
ING Helpdesk

Benelux Morning Notes

Bekaert: 3Q19 and Capital Markets Event preview. Colruyt: Lowering (and raising) lowest prices. IMCD: EMEA leads weak 3Q19 results.

ING
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

ING
Rob Carnell

Japanese GDP grows 0.2%QoQ in 3Q19

There is no evidence of front-loading of spending ahead of the October consumption tax hike, but does this mean we will not see any fall off afterwards?

ING
Roelof-Jan van den Akker

Technical Trend Monitor

German 10-year yield: Long-term trend: Down. Testing the former breakout area around -21bp. Short-term trend: Up. Pause is likely, but uptrend intact above steep trend line

ING
Roelof-Jan van den Akker

Technical Trend Monitor/Technical Trend Monitor

German 10-year yield: Long-term trend: Down. Waiting for a pull-back towards -21bp in the downtrend Short-term trend: Up. Making new highs within the uptrend

ING
Roelof-Jan van den Akker

Technical Trend Monitor - 31 October/Crucial short-term trend developments

German 10-year yield Long-term trend: Down. Waiting for a pull-back towards -21bp in the downtrend Short-term trend: Up. Topping horizontal support around -41bp under pressure BTP future continuous chart Long-term trend: Up. Accelerated uptrend started after close above the upper end 5-year rising trend channel Short-term trend: Neutral. Rallying after achieving lower end trading range earlier this week Spread German 10-year yield versus 2-year yield Long-term trend: Down. Expecting an inverted yield curve within the next 6 months Short-term trend: Down. The short-term steepening is coming to ...

ING
Roelof-Jan van den Akker

Technical Trend Monitor/Crucial short-term trend developments

German 10-year yield Long-term trend: Down. Waiting for a pull-back towards -21bp in the downtrend Short-term trend: Up. Overhead resistance coming in between -26bp and -21bp BTP future continuous chart Long-term trend: Up. Accelerated uptrend started after close above the upper end 5-year rising trend channel Short-term trend: Neutral. Breaking below MA-50 line at 144.37 today. US 10-year Treasury note Long-term trend: Up. Prices closed above the horizontal resistance 130 53/64 Short-term trend: Down. Heading towards next horizontal support around 128 32/64 Spread US 10-year yield versus Germ...

ING
Iris Pang ...
  • Nicky Mapa
  • Prakash Sakpal
  • Rob Carnell

Good MornING Asia - 14 November 2019

After a disappointing GDP report from Japan and labour report from Australia this morning, all eyes are now on remaining Chinese activity data for October for what it says about the trade war impact on that economy.

ING
Dmitry Dolgin

Russian GDP accelerates in 3Q on shaky grounds

Russian GDP growth accelerated from 0.9% year-on-year in 2Q to 1.7% YoY in 3Q, possibly on better exports and stockbuilding. A pickup in consumption and investments is still required to assure more sustainable improvement in the growth trend. This is more likely to happen later in 2020 than in the coming couple of quarters

ING
Maureen Schuller

What's up in Covered Bonds/Periphery covereds outperform after APP restart

This week saw the first statistics being published after the restart of the ECB's net purchases under the central bank's asset purchase programme. With €8,995m being added across the four different purchase programmes the central bank already reached 45% of its €20bn net monthly target after being back for one week.

ING
Valentin Tataru

Romania: Current account deficit continues to widen

After three quarters of 2019, the current account deficit stands at EUR8.1 billion, 19% wider than in the same period of 2018. Only half of it is covered by direct investments

ING
Timme Spakman

Brexit: The risk for trade in services

A victory for Prime Minister Boris Johnson at next month's election would mean his Brexit deal is likely to be ratified. But there's still a chance that the UK could see an abrupt end to the transition period in December 2020. That wouldn't just be bad for trade in goods. There's a risk that barriers to trade in services could more than double

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