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Nordea suggest that "month-end rebalancing....>

FOREX
FOREX: Nordea suggest that "month-end rebalancing flows will likely be
relatively USD supportive, at least against the EUR and Scandis. In our
month-end rebalancing model (based on monthly proxied market value changes of
bonds and equities since 1989), the monthly negative market value change in USD
assets is close to a 2 standard-deviation event (for the first time in roughly
ten years), while it is less extreme looking at the EUR proxy, due to a positive
mark to market from German bond markets."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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