Last updated on April 23, 2014 at 17:36 EDT

Saxo Bank Q4 Outlook 2012: Mandate for Change

October 9, 2012

HELLERUP, Denmark, October 9, 2012 /PRNewswire/ –

Increased focus on micro is needed to end the recession

Saxo Bank [http://www.saxobank.com ], the online multi-asset trading and investment
specialist, launches today its Q4 Outlook for 2012. The Outlook report concludes that the
policies of the central banks and governments to date fail to have a positive effect, and
calls for a mandate for change to pull us out of the recession indefinitely.

The Q4 report also analyses the limited impact of repeated policies that include QE
and low interest rates, and says that the focus should be on micro policies instead. Macro
has so far failed, which can be seen in the record EU unemployment rates of 11.2% and
negative growth of 0.5% in Europe.

The Q4 report shows that despite this uncertainty in the market there are still
opportunities for investors. Small companies with good growth prospects present a good
opportunity for investors and many have already expanded during the financial crisis.

Moreover, Saxo Bank views the Chinese market as the ‘real game changer’. China has
experienced rapid growth for many years, but its business model is outdated. For China to
become an industrialised nation, it must make steps towards encouraging intellectual
investment and allowing competition to achieve a deep financial market.

Steen Jakobsen, Chief Economist at Saxo Bank commented: “The continued policy
repetition by our governments and central banks has extended the recession in developed
countries, and we predict a subdued economic growth for the foreseeable future. Policy
makers must begin to focus on the micro factors. Social tension is not only occurring in
the more problematic countries such as Spain, Greece and Portugal, but is beginning to
become visible in countries such as Germany. We have reached a low point of growth and
unless we can break the cycle of denial and protest as currently upheld by policy-makers,
it will persist into 2013 and possibly beyond.”

The full Q4 2012 Outlook includes the following analyses:

        - Q4 Outlook overview: Groundhog day
        - Equity Outlook: Go small cap for large returns
        - FX Outlook: Market nerves will finally lead to volatility expansion
        - Monetary Policy: Major central banks
        - Feature: Japanisation of the global economy
        - Asia: Who follows Hu?
        - Commodity Outlook: Weak fundamentals create headwinds

Please visit our Quarterly Outlook
[http://www.saxoworld.com/mediacentre/quarterly-outlook ] page or download the Q4 Outlook
2012 here [http://www.saxoworld.com/Documents/Outlook/Q42012.pdf ].

About Saxo Bank

Saxo Bank is an online trading
[http://www.saxobank.com/forex?csref=b1744_Link_boilerplate_pressrelease ] and investment
specialist, offering private investors and institutional clients a complete set of tools
for their trading and investment strategies. A fully licensed and regulated European bank,
Saxo Bank enables clients to trade FX, CFDs
[http://www.saxobank.com/cfds?csref=b1745_Link_boilerplate_pressrelease ], ETFs, Stocks,
Futures, Options and other derivatives via three specialised and fully integrated
multi-asset trading platforms
[http://www.saxobank.com/demo-account?csref=b1746_Link_boilerplate_pressrelease ]; the
browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader
application. The platforms are available in over 20 languages and are white-labelled by
more than 100 major financial institutions worldwide. Saxo Bank also offers professional
portfolio and fund management as well as traditional banking services through Saxo
Privatbank. Founded in 1992, the Saxo Bank Group is headquartered in Copenhagen with 24
local offices throughout Europe, Asia, Middle East, Latin America and Australia.

SOURCE Saxo Bank

Source: PR Newswire