Nordea Hypotek AB (publ) adjusts its funding plan for covered bonds to be issued during 2017 and expects to issue covered bonds of a total volume corresponding to SEK 40-50bn. The reason for the adjustment of the funding plan is that the Nordea Group expects to issue lower volumes of long-term funding in 2017. Nordea Hypotek’s issuance of covered bonds in 2016 was SEK 86bn.
For further information:
Andreas Larsson, Head of Debt Investor Relations, +46 709 707555
Michael Skytt, CEO Nordea Hypotek AB (publ), +46 70 832 44 93
The information in this press release is such, which Nordea Hypotek AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act.
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Economic Outlook
Swedish economy shows resilience
The global landscape has been jolted, partly due to the global trade war. This also affects Sweden, causing households and businesses to hesitate. However, the impact on growth is expected to be limited. There are conditions in place that will help to continue last year’s gradual recovery of the Swedish economy. Inflation will likely decline next year, but a stronger economic climate should reduce the Riksbank’s need to ease monetary policy.
As a small, open economy Denmark is traditionally highly sensitive to global developments. So the trade war is definitely bad news for economic activity in Denmark. However, it comes at a time when the Danish economy is exceptionally well prepared to handle the wave of uncertainty flowing across its borders. This is mainly due to a substantial savings surplus, solid public finances and a flexible labour market. Combined, this makes Denmark well prepared to handle the new global trends.
The cautious growth seen in the Finnish economy is at risk of hitting a tariff wall. Lower inflation and interest rates are boosting purchasing power, but increased uncertainty threatens to put private consumption and investment on hold for a little longer. Housing market activity has increased, but prices are not rising yet. The oversupply in the rental market is still discouraging new construction.
