Johan Trocmé and Viktor Sonebäck from Nordea Thematics talk with Adam Schatz, CEO of DIY and Home Furnishing e-tailer BHG Group, about the explosion in online shopping triggered by the COVID-19 pandemic. Will changes in consumer behaviour be permanent, and how do online and bricks-and-mortar retailers need to respond? What will be needed to succeed? Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Nordea Markets Insights EN

Nordea On Your Mind: E-commerce and Corona

2020 has been a turbulent year, fundamentally defined by the COVID-19 pandemic. Viktor Sonebäck and Johan Trocmé reflect back on the Nordea On Your Mind topics covered during the year, evolving from navigating the initial shock to the economy, to the sometimes drastic changes in consumer behaviour brought by the pandemic, and how these could turn out to be permanent. The new normal will be different from the old normal.

A holiday recap: Best of ‘Nordea On Your Mind’ 2020

Industry 4.0 may sound like a software update, but it is a German-invented name for the next big industrial revolution, after steam power, electric power and programmable logic. It is also the topic for Nordea's latest report of Nordea On Your Mind. In this podcast, Johan Trocmé and Viktor Sonebäck talk about findings from their report, like how productivity growth has collapsed in the G7 economies in the past 10 years, and a new industrial paradigm will be needed to drive growth going forward. Internet connectivity is the big game changer, and we believe much of the new efficiency upside will come from business model innovation. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Ever heard about Industry 4.0?

Capital markets have rebounded from the COVID-19 shock, and consensus forecasts expect 2021 to be even better than the pre-pandemic 2019. Are corporates equipped to face a more challenging 2021 and 2022 if consensus forecasts are too optimistic, and is there a need for a contingency plan? It could take time to get back to normal, and the new normal could be different from the old one. Corporates should have a plan B to ensure they can cope with the journey there. In the latest episode of Nordea On Your Mind Johan Trocmé, director at Nordea Thematics, and Viktor Sonebäck, associate at Nordea Thematics, share the light upon this and much more. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Nordea On Your Mind: Coronavirus - Plan B

The coronavirus blew a large hole in the Finnish economy. While private consumption is returning to normal as Finland slowly reopens, challenges faced by exporters and manufacturers are expected to actually worsen in the fall when order books are cleared. Will Finland be able to continue on its V-shaped recovery path? Listen to the podcast with Tuuli Koivu, Nordea’s Chief Economist for Finland. Read more about Finland in the Nordea Economic Outlook: https://docs.nordeamarkets.com/nordea-economic-outlook/economic-outlook-2020/EO-en-02-2020/?page=22 Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Finland: How to recover from the virus?

Sweden has attracted international attention for its outlier coronavirus strategy, relying more on recommendations for people’s behaviour rather than a strict lockdown. So how has Sweden’s economy fared during the pandemic, and what’s the outlook going forward? Listen to the podcast with Nordea Chief Analyst Torbjörn Isaksson. Read more about Sweden in the Nordea Economic Outlook: https://docs.nordeamarkets.com/nordea-economic-outlook/economic-outlook-2020/EO-en-02-2020/?page=14 Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Sweden: Living on hopes

When the coronavirus hit, Norway’s economy was expected to take one of the biggest blows, suffering the double whammy of falling oil prices as well as the pandemic. In this Nordea Markets Insights podcast, Norway Chief Economist Kjetil Olsen explains why Norway’s recovery is turning out to be much stronger and faster than anyone expected a couple of months ago. Read more in the Economic Outlook: https://docs.nordeamarkets.com/nordea-economic-outlook/economic-outlook-2020/EO-en-02-2020/?page=20 Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Norway’s recovery has begun

Denmark was one of the first countries in Europe to announce a coronavirus lockdown in early March. It was also one of the first countries to reopen its economy. So how is the economic recovery progressing? In this Nordea Markets Insights podcast, Chief Analyst Jan Størup Nielsen presents the Danish economic outlook and explains why he’s been positively surprised when it comes to private consumption and the housing market. Read more in the latest Nordea Economic Outlook: https://docs.nordeamarkets.com/nordea-economic-outlook/economic-outlook-2020/EO-en-02-2020/?page=16#/ Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Denmark: In a solid position for a fast recovery

The oil industry has suffered three big shocks only in the past twelve years. It has been turned completely upside down in 2020, with a price war in March quickly abandoned as the COVID-19 pandemic caused an unprecedented demand collapse. Johan Trocmé, Viktor Sonebäck and Shirin Haddad talk about their latest Nordea On Your Mind report ‘Oil: black gold or black hole’, where they explore how the industry should deal with likely persistent oil price volatility, peak oil demand within six years as renewable energy keeps growing, and the need to have a sustainable business, also in oil. All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Nordea on Your Mind: Oil - Black gold or black hole?

The Euro area has experienced a spectacular fall in economic activity during the corona crisis. Yet some countries have been hit harder than others, and the economic rebound is likely to be asymmetrical. Hear why in this podcast with Chief Analyst Jan von Gerich and Analyst Inge Klaver. As the economic damage pushes government debt levels higher, will support from the European Central Bank be enough to keep the Euro area together? Listen below. And read the full Economic Outlook: https://docs.nordeamarkets.com/nordea-economic-outlook/economic-outlook-2020/EO-en-02-2020/ Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Euro area outlook: An asymmetrical recovery

The US and the UK economies have both been hit hard by the corona crisis. What does the path ahead look like, especially amid geopolitical risks such as the US presidential election, the US-China trade war and the ongoing Brexit saga? Nordea analyst Morten Lund delves into the outlook for both economies in this latest instalment of our Economic Outlook podcast series. Download the full report: https://docs.nordeamarkets.com/nordea-economic-outlook/economic-outlook-2020/EO-en-02-2020/#/ Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Risks abound in the US and UK outlook

China was the first country hit by the coronavirus and has since largely managed to bring the outbreak under control. The Chinese economy has thus become a bellwether for the rest of the world. So how is the economic recovery progressing in China post-lockdown? Nordea Chief Asia Analyst Amy Yuan Zhuang delves into the subject in the latest installment of our Economic Outlook podcast series. Download the Economic Outlook: https://docs.nordeamarkets.com/nordea-economic-outlook/economic-outlook-2020/EO-en-02-2020/#/ Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

China's slow road to recovery

The world economy has slid into the deepest economic recession since the Great Depression of the 1930s and looks set to contract by around 3% this year. In this podcast, Nordea Group Chief Economist Helge Pedersen shares highlights from the newly released Nordea Economic Outlook, The Road to Recovery. What will the path out of the COVID-19 crisis look like? Why do we expect this crisis to be shorter than the financial crisis? Have the Nordic countries’ diverging approaches to containing the virus had any impact on the economic outcomes? Find out all this and more. Read the full report: https://docs.nordeamarkets.com/nordea-economic-outlook/economic-outlook-2020/EO-en-02-2020/#/ Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Economic Outlook: The Road to Recovery

How do corporate borrowers benefit from having a credit rating? When is it worth the effort and expense? Viktor Sonebäck and Johan Trocmé talk about findings from their new Nordea On Your Mind report ‘The case for a credit rating’, describing what credit ratings are and what they are not, and how we can quantify when they actually pay for themselves, in addition to giving borrowers access to more and longer-dated funding.

Nordea On Your Mind: It is what it is

Containment measures to prevent or slow the further spread of COVID-19, like travel restrictions and quarantines, are hurting economic activity. Corporates will feel a negative impact on cash flow from supply shortages or from lost revenues as people are unable to go to work to produce goods, or to consume. We argue it is crucial to have financial contingency plans with funding to be able to weather disruption to supply chains, also if it lasts longer than a few weeks or months. And companies need to be proactive and secure it before any turmoil reduces availability or raises costs. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Coronavirus: Ensure that you are able to cope with more than just a short disruption

Join our analysts for a markets-focused podcast. In it, we talk about macro economics, FX strategy, rates, central banks and other topics. Aimed at professional investors, but we do our best to keep it simple.

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Nordea Markets Insights EN

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