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Danish bonds – Soon more selection of top bonds News

Sunday, August 27th, 2017 | Economy

Danish Finance Minister Kristian Jensen said this week that the government will have to increase its borrowing next year in order to finance, among other things, the cost of tax cuts. This follows an announcement from June, when Denmark announced that it would finance government debt instead of mortgages of up to 25.4 billion euros for public housing.
Danske Bank says the measures and the additional liquidity provided by them are exactly what investors have been waiting for after years of supply drought. Emissions have hitherto been rather modest, since Denmark simply does not have so many debts (less than 40% of GDP). In 2015, the country even stopped the issuance of government bonds to stop speculators from hoarding kronen, amid a turbulent attack on the euro's currency link.
"People will see this and say, 'Great, we can trade more bonds,'" said Jens Peter Sorensen, Chief Analyst Bonds at Danske Bank in Copenhagen. "This means that what could be a negative event is not an event at all."
Denmark's government bond market covers only about a quarter of the size of the country's mortgage bond market. The target for 2017 is 65 billion kroner (8.5 billion euro) in bonds and 30 billion kroner in treasury notes, which are particularly popular with foreign investors. Denmark is one of only 10 government issuers holding a first-rate "AAA" rating from S & PGR, Moody's and Fitch.
The center-right government of Prime Minister Lars Lokke Rasmussen will present the detailed details of his tax plan next week. Furthermore, details of how the measures will influence the borrowing of the country will be given.


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