SNDO Report May 2026 Preview

Nordea expects the Swedish Debt Office to maintain its current long-term funding plan while making minor adjustments to short-term issuance in its May report.

Key Takeaways

• 1.The Swedish Debt Office (SNDO) is expected to make only minor changes to short-term funding as net borrowing requirements remain stable.
• 2.Nordea has revised its budget deficit forecast for 2026 to SEK -180bn following a new government amending budget bill.
• 3.SNDO may shift nominal government bond auction frequency from biweekly to weekly after the summer.

Table of Contents

• Geopolitical tensions in focus
• Higher fiscal expenditures, but better outcomes
• Funding plans

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