The approach provides a Nordic/Global corporate credit exposure with low geopolitical risk and a sound ESG profile.
Pareto Bond Funds - August update
The Nordic central banks have left their policy rates unchanged, in-line with their Eurozone and U.S. peers. Overall, interest rates trended sideways with long-term Swedish rates trending slightly up. One development to keep an eye on is the weaker U.S. Dollar, losing year-to-date 12% against the Norwegian Krone NOK and 14% against the Swedish Krona SEK, respectively, as almost a quarter of all exports from these economies is invoiced in USD. In the second half of the month, Nordic primary bond markets seemingly woke up from their 'summer slumber' with a bang. Activity picked up so fast that it made this August into the most active August for HY primary activity for as long as our data goes back. We take this as a sign of bond optimism and a positive indication for great activity this fall
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