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May 28, 2026

Higher Nominal Bond Issuance Again

Market ReportRates Govt BondsMacro Economic IndicatorsOther

SEB analyzes the Swedish National Debt Office's May report, which projects higher nominal bond issuance and a shift to weekly auctions as government debt begins to rise.

Key Takeaways

  • 1.The Swedish National Debt Office (NDO) revised nominal bond issuance forecasts upward for 2026 and 2027.
  • 2.The NDO is transitioning to weekly bond auctions starting June 17, 2026.
  • 3.Central government debt is projected to rise to 23% of GDP by the end of 2027 from 19% in 2019.

Table of Contents

  • Higher nominal bond issuance again
  • Central government budget

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Authors

Olle Holmgren

Securities

Nominal SEK BondsIL-bondsT-bills

Themes

Swedish Fiscal DeteriorationGovernment Funding Strategy

Regions

EuropeSweden