External broker reports(aggregated public sources), Nordea

Nordea

External broker reports(aggregated public sources)

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Macroeconomics

<ul><li>Norges Bank plans to increase NGB issuance to between 100 and 110 bn NOK in 2024, a large increase from the 80bn issued this year. </li><li>NGBs are mainly used to fund various government lending schemes, but the bulk of next year’s increase is not from these programs and a source of some uncertainty to us. </li><li>The Government Budget cites the end of the special income stream from the discontinuation of a government infrastructure fund (it added 100bn in 2023) as the reason behind the increased funding needs (“Gul bok” p44 and p88, in Norwegian only).</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Norges Bank plans to increase NGB issuance to between 100 and 110 bn NOK in 2024, a large increase from the 80bn issued this year. NGBs are mainly used to fund various government lending schemes, but the bulk of next year’s increase is not from these programs and a source of some uncertainty to us. The Government Budget cites the end of the special income stream from the discontinuation of a government infrastructure fund (it added 100bn in 2023) as the reason behind the increased funding needs (“Gul bok” p44 and p88, in Norwegian only).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

United States

Global X MSCI Norway ETF is an exchange-traded fund incorporated in the  USA. TheFund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Norway IMI25/50 Index.

Global X MSCI Norway ETF (NORW US)

NGB: Borrowing Programme 2024

Norges Bank plans a large increase in bond issuance next year and could at the same time restart their swap program. We comment on last week's...

Nordea