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RPT-TAKE A LOOK-Five world markets themes in the coming week
February 9, 2015 / 8:21 AM / 3 years ago

RPT-TAKE A LOOK-Five world markets themes in the coming week

(Repeats item that ran on Friday and updates following postponement of Nigerian election)

LONDON, Feb 6 (Reuters) - Following are five big themes likely to dominate thinking of investors and traders in the coming week, scheduled events, and the Reuters stories related to them.


Greece’s new leaders are back in Athens having won little support for debt relief from European creditors, and will now have to deal with the European Central Bank pulling the plug on funding to Greek banks on Wednesday. Markets are becoming anxious that Greece’s flagging economy will be cast adrift if Athens cannot agree to a new bailout package by the end of the month, with the prospect of bank run now upping the ante on tense negotiations.

* Greek, German ministers clash as ECB snub hits Athens’ banks

* Bondholder Japonica welcomes Syriza, says Greece has no debt problem

* COLUMN-For Greece and euro, much hangs on a word - insolvent


The negative interest rate club could have another member when Sweden’s central bank meets on Thursday. Annual inflation has been negative for the last six months, fueling expectations that the Riksbank will cut rates below the current zero percent. This would put Sweden alongside Denmark and Switzerland with negative official interest rates, and the ECB with its negative deposit rate for banks. Sweden would join no fewer than 17 central banks around the world that have eased policy to some extent already this year.

* FX war looms, Swedish crown in spotlight

* With currency war threatening, speculators focus on Swedish crown

* Negative-yielding bonds - who buys them and why

* FACTBOX-How low can they go? Central bank policy easing in 2015


There is plenty for G20 finance ministers and central bank chiefs to discuss when they meet in Istanbul next week: volatility in the oil price; the impact of escalating violence in Ukraine, whose currency is in a tailspin; Greece; global deflation worries, to name but a few possible topics. But given the intractable nature of some of the problems, the chances of meaningful agreement are slim. An EU summit will also grab attention, with Greece and sanctions on Russia on the agenda. The Bank of England’s quarterly inflation report will be scoured for clues to the timing of the BoE’s first rate hike, which has gradually been pushed back after softer data recently.

* Ahead of G20 meeting, Canada raises concerns about global economy

* Ukraine fx market in confusion after bank removes unofficial peg

* G20 finance chiefs meet Feb. 9-10; Euro zone finance ministers meet Feb. 11; EU leaders meet Feb. 12-13

* Bank of England quarterly inflation report Feb. 12


January was a great month for equity trading desks, with whirlwind central bank activity keeping investors on their toes. The coming week’s slew of results from big investment banks should give an indication as to whether this is a blip or cause for more long-term confidence in capital markets desks.

* Diverging earnings forecasts signal bumpier road ahead for stocks

* Stock traders got a lift from volatile January

* European/U.S. earnings diaries


The Nigerian naira opened at a record low on Monday after the country delayed its presidential election by six weeks to March 28. The delay adds to political uncertainty and could stoke social unrest in some parts of the country, adding to pressure on the naira which has been hit by the plunge in oil prices and Nigeria’s battle to curb an Islamic insurgency in the north.

The poll is expected to be the most closely fought election since the end of military rule in 1999 in Africa’s largest economy. President Goodluck Jonathan of the ruling People’s Democratic Party will face former military ruler and main opposition candidate Muhammadu Buhari of the All Progressives Congress.

* Nigerian opposition candidate urges calm after election delay

* SPECIAL REPORT - Anatomy of Nigeria’s $20 billion “leak”

* Interest rate pressure tests emerging market policy credibility (Compiled by Nigel Stephenson; Editing by Susan Fenton)

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