Weekly Focus

Markets reacted to a potential truce between the US and Iran that could reopen the Strait of Hormuz, driving oil prices down to $100/bbl. Meanwhile, Norges Bank hiked rates to 4.25%, and Sweden saw a surprise drop in core inflation to 0%.

Key Takeaways

• 1.Potential de-escalation in the US-Iran war and reopening of the Strait of Hormuz has led to a significant drop in oil prices from $115 to $100/bbl.
• 2.Norges Bank hiked its policy rate by 25 bp to 4.25%, citing uncertainty in the Middle East and stronger-than-expected price impulses from abroad.
• 3.Sweden experienced a sharp downside surprise in April inflation, with core inflation hitting 0% and CPIF falling to 0.8% y/y.

Table of Contents

• Higher hopes of Hormuz harmony
• Key global views
• Key market movers
• Selected reading from Danske Bank
• Market Movers Scandinavia
• Scandi Update
• Norway – Norges Bank hiked by 25 bp
• Calendar – 11-15 May 2026
• Calendar – 18-22 May 2026
• Macroeconomic forecast
• Financial forecast
• Disclosures

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial