External broker reports(aggregated public sources), BNP Paribas

BNP Paribas

External broker reports(aggregated public sources)

Based in Paris, BNP Paribas' Economic Research Department is composed of economists and statisticians: The OECD Economics team, in charge of macroeconomic and financial forecasts, and the team of statisticians, both headed by Hélène Baudchon. The Emerging Economies and Country Risk team, led by François Faure and assisted by Christine Peltier, responsible for assessing country risk and its components. The Banking Economics team, led by Laurent Quignon, studies the banking systems of major developed countries and the impact of prudential standards. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Macroeconomics

<ul><li>Inflation in both the Eurozone and France is expected to return to levels not seen since the summer of 2024.</li><li>In March, we forecast 2.6% y/y in the Eurozone (compared with 1.9% in February).</li><li>In France, where inflation is starting from a much lower base (1.1% in February), it is expected to reach 1.7% y/y in March, rising to 2.1% in May.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Inflation in both the Eurozone and France is expected to return to levels not seen since the summer of 2024.In March, we forecast 2.6% y/y in the Eurozone (compared with 1.9% in February).In France, where inflation is starting from a much lower base (1.1% in February), it is expected to reach 1.7% y/y in March, rising to 2.1% in May.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Inflation in the Eurozone and France: the start of a rebound

External broker reports, Nordea

Nordea

External broker reports

Nordea is the bank in the Nordics dedicated to serving corporations and institutional customers. Our offering includes a diverse range of financing, cash management and payment services, investment banking, capital markets products, securities services and more. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Despite dramatic headlines and geopolitical turbulence in recent weeks, the main net change in markets has been a weaker US dollar.</li><li>The dollar has also weakened broadly over the past year.</li><li>What has driven this move, and how far could it go?The current dollar downturn could potentially be long-lasting, albeit with periodic setbacks along the way.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Despite dramatic headlines and geopolitical turbulence in recent weeks, the main net change in markets has been a weaker US dollar.The dollar has also weakened broadly over the past year.What has driven this move, and how far could it go?The current dollar downturn could potentially be long-lasting, albeit with periodic setbacks along the way.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Macro & Markets: How much further can the USD weaken?

<ul><li>We hope everyone has enjoyed the summer! Since our last publication, the EUR, SEK &amp; NOK XCCY basis curves have all flattened driven by higher front levels and to some extent lower levels further out the curve with the tipping point around the 5y area.</li><li>The largest cross boarder issuers are ahead of plans, closing in on YTD funding targets.</li><li>Thus, unless we see changes to funding targets we expect less demand for paying EURUSD XCCY basis towards year-end. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We hope everyone has enjoyed the summer! Since our last publication, the EUR, SEK &amp; NOK XCCY basis curves have all flattened driven by higher front levels and to some extent lower levels further out the curve with the tipping point around the 5y area.The largest cross boarder issuers are ahead of plans, closing in on YTD funding targets.Thus, unless we see changes to funding targets we expect less demand for paying EURUSD XCCY basis towards year-end. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

<ul><li>We maintain our view that 2H25 earnings growth should strengthen, though the key risk remains with foreign outflows.</li><li>Domestic funds remained OW in Banks, Consumers and Auto in Aug25, while adding exposures into Petrochem, Auto and Property sectors.</li><li>Amid still-muted domestic catalysts, we reiterate Metals as our third sector preference, with BRMS and INCO as our top picks.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We maintain our view that 2H25 earnings growth should strengthen, though the key risk remains with foreign outflows.Domestic funds remained OW in Banks, Consumers and Auto in Aug25, while adding exposures into Petrochem, Auto and Property sectors.Amid still-muted domestic catalysts, we reiterate Metals as our third sector preference, with BRMS and INCO as our top picks.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Equity Strategy: Market Jitters, Metals Glitter

<ul><li>Since the election of the new US administration in November last year volatility in the XCCY market has increased significantly.</li><li>Despite increased volatility, the trend has been for higher EUR/USD XCCY basis, i.e., EUR getting more expensive relative to USD.</li><li>The upwards trend can be explained by various factors, but the overarching factor is the prolonged period with funding arbitrage in USD for issuers with access to the US primary market. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Since the election of the new US administration in November last year volatility in the XCCY market has increased significantly.Despite increased volatility, the trend has been for higher EUR/USD XCCY basis, i.e., EUR getting more expensive relative to USD.The upwards trend can be explained by various factors, but the overarching factor is the prolonged period with funding arbitrage in USD for issuers with access to the US primary market. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

United States

The US dollar is the official currency of the United States of America.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

USD (USD CURNCY)

Inflation in the Eurozone and France: the start of a rebound

Inflation in both the Eurozone and France is expected to return to levels not seen since the summer of 2024.In March, we forecast 2.6% y/y in the...

BNP Paribas

Macro & Markets: How much further can the USD weaken?

Despite dramatic headlines and geopolitical turbulence in recent weeks, the main net change in markets has been a weaker US dollar.

Nordea

Nordea XCCY Publication: Q3-2025

We hope everyone has enjoyed the summer! Since our last publication, the EUR, SEK & NOK XCCY basis curves have all flattened driven by higher front...

Nordea

Equity Strategy: Market Jitters, Metals Glitter

Amid still-muted domestic catalysts, we reiterate Metals as our third sector preference, with BRMS and INCO as our top picks.

BRI Danareksa Research

Nordea XCCY publication: Q2-2025

Since the election of the new US administration in November last year volatility in the XCCY market has increased significantly.

Nordea

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)