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The Swedish economy is recovering increasingly faster after last year s drop
resulting from
the pandemic. The higher economic growth leads to increased income from taxes for the central government and thereby a stronger budget balance, lower borrowing requirement, and lower debt.
The Debt Office is reducing its borrowing and intends to introduce a
new
50-year government bond.
“So far this year, the Swedish economy has resisted the pandemic well, and an even more rapid recovery is expected ahead when the spread of infection subsides and restrictions are eased, which strengthens central government finances. There are however differences in the rate of recovery, and some sectors and businesses are still being hit hard by the pandemic,” says Hans Lindblad, Director General of the Debt Office.
Strong economic recovery reduces central government borrowing requirement The Swedish economy is recovering increasingly faster after last year's drop resulting from the pandemic. The higher economic
5/27/2021 5:41:05 AM GMT
Market movers today
Today we will listen in when Bundesbank governor Jens Weidmann speaks at the Franco-German Economic and Financial Council.
In Sweden, we get both business and consumer confidence and a new borrowing forecast from the Debt Office, see more below.
In the US we get PCE inflation figures which should not be a big market mover as they will likely just mirror the big increase we got in the CPI figures. It will be interesting to see whether service consumption has increased relative to goods, though as we also get consumption data.
The 60 second overview
ECB: We have had a string of dovish speeches from various ECB officials the past few days, and today we will hear from one of the ECB hawks - Weidman from the Bundesbank. If his comments follow a similar path as the ones we have seen so far, then the spread compression between Germany and the rest of the EGB market should continue despite the solid performance seen since last week. We would