Denmark Denmark
Trading strategy
I track Saxo Bank's USD-denominated FX World Carry portfolio using 2 x leverage. This portfolio is one of four available. More information on the four portfolios can be found here: http://www.tradingfloor.com/posts/introducing-saxo-bank-fx-carry-trade-805549152
Biography
Mads Koefoed is Head of Macro Strategy at Saxo Bank. Mads prefers a quantitative approach when analysing the global economy, but also stresses the importance of the debt cycle for understanding today’s macro-economic developments. Mads publishes daily comments on TradingFloor.com and is a regular commentator on Saxo TV and other broadcast media. He is a key contributor to the bank’s quarterly outlook as well as co-author of the strategy team’s trading models and Trade Navigator.

Mads holds a master's degree in economics (cand.polit.) from The University of Copenhagen, where his focus was on finance and econometrics.

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857 FOLLOWERS
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  • Squawk / 2 hours ago
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    Spain has just completed a EUR 2.65 billion auction of 10-year government bonds. The average yield was 3.059% with a bid-to-cover of 2.31. This is the lowest yield on record, the previous low was 3.165% back in September 2005.
    Read the Squawk
  • Squawk / 2 hours ago
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    German IFO better than expected in April. The business climate index climbed to 111.2 from 110.7 last month while consensus had expected 110.4.
    The current assessment index was mostly unchanged at 115.3 from 115.2 and 115.6 expected, so the improvement in the headline index came from the expectations index, which rose to 107.3 from 106.4. Consensus had predicted a drop to 105.8.
    Overall a solid report made even better by the fact that it is the expectations index, which is the main driver.
    Read the Squawk
    2h
    Juhani Huopainen Juhani Huopainen
    The pickup in expectations is particularly nice, as the construction sector's expectations are going through a negative seasonal patch. Here's the link to the press release: https://www.cesifo-group.de/ifoHome/facts/Survey-Results/Business-Climate/Geschaeftsklima-Archiv/2014/Geschaeftsklima-20140424.html...
  • Squawk / 3 hours ago
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    French manufacturing confidence declined to 100 in April as expected. However the drop came about as a result of an upward revision to March from 100 to 101.

    Overall business confidence also declined to 94 vs. 96 expected and 95 prior as the order outlook weakened while inventories rose. Not a good report.
    Read the Squawk
  • Squawk / Yesterday at 14:05 GMT
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    New home sales plummets 14.5% month-on-month to 384,000 in March in the US, far from the consensus expectation of +2.3%. Furthermore the decline in new home sales in February was revised to 4.5% from 3.3%.

    Sales declined most in the Midwest to 51,000 from 65,000, a drop of 21.5% m/m, followed by the West and South. The Northeast recorded a minor increase to 27,000 from 24,000.

    While the report surprised consensus it would not come as a shock to those watching the housing starts series, which had been signalling a drop in sales (chart 1).
    Read the Squawk
  • Squawk / Yesterday at 11:03 GMT
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    Several companies reporting right now...

    *DOW CHEMICAL 1Q EPS 79C, EST. 71C
    *P&G DELIVERS 3Q CORE EPS $1.04, EST. $1.02
    *BIOGEN IDEC 1Q ADJ. EPS $2.47, EST. $2.55
    Read the Squawk
    23h
    Mads Koefoed Mads Koefoed
    Biogen Q1 revenue $2.13 billion vs. $2bn estimated. Sees revenue growth of 26-28% now vs. 22-25% before.
    23h
    Mads Koefoed Mads Koefoed
    Procter & Gamble Q3 revenue $20.56 billino vs. $20.67bn estimated.
    23h
    Mads Koefoed Mads Koefoed
    Ingersoll-Rand Q1 EPS $0.29 vs. $0.258 estimated, an upside surprise of around 12% (had guided $0.26)
  • 22h
    DP DP
    Love the bottom one as usual :)
    22h
    Juhani Huopainen Juhani Huopainen
    It's difficult not to like it. Perhaps in June or so it breaks, when the ECB finally gets around to doing something. Or perhaps the pattern will...
  • Squawk / Yesterday at 9:41 GMT
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    Portugal has just finalised its first 10-year government bond auction in three years. The target of EUR 500-750 million was achieved (750mn) at an average yield of 3.5752% and a bid-to-cover ratio of 3.47.
    Read the Squawk
    14h
    benlouro benlouro
    big and easy Money been made in the last 4 -5 yrs.
  • Squawk / Yesterday at 9:14 GMT
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    The government-to-GDP ratio climbed to 92.6% in the euro are in 2013 from a revised 90.7% in 2012 (90.6% initially). This is the highest debt-to-GDP ratio on record.
    Read the Squawk
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