Swedish treasury bill sales lower than expected
AFX · 29 Sep 2008, 15:18
Published: 29 Sep 2008 15:18 GMT+02:00
- Sweden 'well-equipped for downturn': Riksbank (24 Sep 08)
- Debt office completes second T-bill auction (23 Sep 08)
- Sweden to auction more treasury bills (19 Sep 08)
The office said earlier this month it would sell as much as 150 billion kronor ($22.7 billion) of T-bills in extra auctions to soothe the markets as investors turned to investments seen as safer.
With two more extra auctions to go, it has sold around 70 billion kronor worth of them.
"We satisfied the markets fairly well at the beginning," said Bo Lundgren, director-general of the debt office.
Lundgren said he expected the auctions to reach a total volume of at least around 100 million, but added: "It rather feels like we won't need to use them (the 150 billion) all."
The office has said the funds raised would mostly be used to add liquidity to the mortgage bond market.