164.4P1 Note consensus estimates are based on Thomson come ed data as of I 0/14 16 • Update on KRC's disposition plans. We note that a JV sale to Norges Bank closed in August, with another sale expected to close in 4Q • Update on leasing up the Exchange, with the focus shifting to multi-tenant leases al

ncies like EUR, JPY and CHF which do not cost to carry. Alternatively, focus on USD longs versus currencies with idiosyncratic risk, like NOK due to Norges Bank dovishness or GBP due to the Scotland referendum. The second strategy is to earn carry in cash markets. We only do this in emerging markets, since

omentum than most G10 economies but also happens to have trade exposure to economies that maintain relatively strong growth (Figure 1). This allowed Norges Bank last week to reiterate guidance for a hike in March, which is not yet fully priced. We expect Norges to be the only central bank in G10 to hike rate

king. I am looking to trade the range of 9.40 - 9.60 and 9.60 - 9.80 in EURNOK and EURSEK respectively. That being said, PMI's in both countries and Norges Bank speeches next week bear watching as the Sweden story could quickly gather steam should upside data result. Metals (Mark Salib) XAUUSD - Support: $

forward. Sweden In December, the Riksbank left its rates profile broadly unchanged, suggesting rates will remain sub-zero until end-2017. Norway Norges Bank surprised with a rate cut in September. We expect a final further 25bp rate cut this quarter. Denmark Denmark was forced to cut its deposit rate f