In the past week we have received disappointing trade balance, retail sales data and PMIdata out of Sweden. The data support our view that Q3 GDP data will be weak and thatthe Riksbank will deliver a soft message at the December monetary policy meeting.Hence, we continue to hold the view that the market will postpone the timing of the firstrate hike in Sweden and that the market might start pricing in a probability of a Swedishrate cut. This week industrial production data and Riksbank minutes will be in focus.
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Danske Bank