- "We have not made any major changes to our CNY forecast. We still expect CNY to appreciate by about 4% against USD over the next year, which is a bit more than the
market currently expects. This will not be enough to have any substantial macroeconomic impact."
- "The combined effect of fiscal tightening and euro depreciation is thus to increase
growth by 1.0 percentage point in 2010, while growth is dampened by 0.2 percentage
points in 2011 and 0.1 percentage points in 2012."
- "One of our concerns remains deflation in output prices which could erode corporate
earnings in the coming months if it continues."
- "After a short-lived recovery during which oil rose close to USD80 again, commodities have in general again been sold off in the past week. We look for prices to remain relatively steady around newfound levels in the near term."
DenDanske Weekly Focus 20100625
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