Morning Comment Norway-06/18/2026

Research evidence excerpt

Morning Comment Norway-06/18/2026

Morning Comment Norway

18 JUN 2026

Foreign markets S&P 500 intraday

7,540

• US – US equities were lower in Wednesday trading as stocks ended not far

7,520

from worst levels after post-FOMC meeting selloff. S&P 500 now slightly

down for the week. Hawkish FOMC and subsequent market reaction (25 bp 7,500

hike now priced in by September, 38 bp of hikes through year-end). 9 out of 7,480

18 officials penciled in at least one rate hike for 2026. Median dot for both 7,460

2027 and 2028 also went higher. 7,440

• Asia – Asian equities mixed Thursday. US-Iran MoU signing lifting risk 7,420

appetite with semis/memory driving outperformance of Japan, South Korea 7,400

and Taiwan benchmarks. Internet platforms weighing on Hong Kong. 7,380

16:00 17:00 18:00 19:00 20:00 21:00

• Oil prices – Brent down -2.3% and WTI -2.6% today. Markets welcoming

formal MoU signing by President Trump and his Iranian counterpart. Signing

seen to have warded off risk of a last-minute derailment, reinforcing US and Asia indices (at time of publication)

confidence of a pending reopening of Strait of Hormuz. MoU stipulates fee- 2.50% 1.85%

free passage through Strait of Hormuz during 60-day negotiation period. 2.00%

1.50%

Today’s research focus 1.00%0.50%

• Seafood – We expect salmon prices for next week (w26) at ~NOK 64/kg 0.00%

(~EUR 5.8/kg), down NOK 4/kg w/w. The 4-week rolling export value in EUR -0.50% -0.24%

is up 10.3% Y/Y per w24, with volumes up 18% Y/Y to 32.7kt. Volume- -1.00% -0.98%

weighted Q2'26 NOK prices look set to come in around NOK 73/kg (~EUR -1.50% -1.21% -1.34%

6.70/kg), which is well below consensus but that should be well reflected by -2.00% -2.50% -2.00%

now. Link to slides. Link to report Dow S&P 500 Nasdaq Nikkei 225 Hang Seng Shanghai