Sweden
-
-
Pockets of stability in the Swedish market drove demand across the curve this week, allowing investors the chance to pick up a handful of well-known SSA names at highly attractive levels. -
The primary public sector bond market came back to life on Tuesday as a pair of sovereigns and the European Investment Bank sold deals alongside German states. But it was far from a case of picking up where they left off as borrowers were made to pay new issue premiums of up to 20bp versus the secondary market levels on screens.
-
The Nordic region’s credit markets are experiencing something of a lockdown as the spread of Covid-19 lead to dozens of fund providers halting withdrawals last week and the effective closure of the primary market due to a shortage of liquidity.
-
ING and Skandinaviska Enskilda Banken (SEB) said this week they would redeem dollar-denominated additional tier one (AT1) bonds at their first call dates, despite the economic and market implications of Covid-19.
-
Denmark and Sweden unveiled a number of policies to combat the economic effects of the Covid-19 pandemic this week, with big changes to their funding plans. Sweden has decided to focus on the short end with an increase in treasury bill and commercial paper borrowing, while Denmark has chosen to increase its overall funding programme.
-
Despite current market turbulence, Kommuninvest, the funding body for Swedish local governments, still plans to press on with its debut euro green bond when volatility abates, according to its head of debt management.
-
EU supervisors plan to ease the regulatory pressures on banks during the Covid-19 pandemic, allowing them to temporarily breach capital and liquidity buffers to carry on lending to the real economy.
-
The recent fall in the price of oil is having a knock-on effect on non-core currency issuance. While oil dependent markets could take a hit as their currencies weaken, some net importers could benefit from a stronger currency and safe haven flows.
-
Vattenfall, the Swedish state power company, issued its second green bond on Thursday, to an enthusiastic reception from investors, who drove the €500m note’s pricing very close to the issuer’s curve.
-
The first scorecard of 2020 looks at the progress Nordic agencies have made in their funding programmes at the start of March.
-
