Nordea analyzes the upcoming Danish government bond auction for DGB35G and DGB52, noting that DGB52 has become less attractive after recent outperformance against German benchmarks.
Key Takeaways
- 1.DGB52 has become less attractive after performing +10bp against DESTR and German government bonds since the April auction.
- 2.The green bond DGB35G continues to trade with a stable greenium of 0.8bp, but investor interest remains subdued.
- 3.The yield spread against Germany stands at -40bp, reflecting current central bank rate differences, which the author views as an aggressive level for the long end.
Table of Contents
- DGB auction: Two rarities at auction (again), DGB35G and DGB52
- Marketing communication
- Origin of the publication or report
- Content of the publication or report
- Validity of the publication or report
- No individual investment or tax advice
- Sources
- Limitation of liability
- Risk information
- Conflicts of interest
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Authors
Anders Skytte Aalund
Securities
DGB35GDGB52DESTR
Themes
Government Bond Auction AnalysisGreen Bond Pricing (Greenium)
Regions
EuropeDenmarkGermany