Portfolio investments, 1st quarter 2010:
Continued sharp interest in Swedish debt securities
Cross-border portfolio investments during the first quarter of the year resulted in a net capital inflow of SEK 166.0 billion. The inflow of capital was mainly due to issues from the Swedish government, banks and housing credit institutions.
Extensive borrowing in debt securities
During the first quarter of the year the demand for Swedish securities continued to be large. Foreign investors net purchased Swedish bonds and certificates to a value of SEK 209.4 billion. Issues of bonds and certificates abroad from banks and housing credit institutions account in part for the inflow. Their borrowing in foreign currency increased by SEK 135.2 billion during the period. In the previous quarter such borrowing had increased by SEK 24.0 billion. Swedish treasury bonds and certificates denominated in foreign currency generated large capital inflows during the quarter. Investors abroad net purchased Swedish government securities at a total of SEK 88.5 billion during the quarter. For the sector "Other residential sector", where non-financial corporations make up a significant share, borrowing decreased in contrast by SEK 14.8 billion because of maturity.
Swedish investors net purchases of foreign bonds at a value of SEK 31.8 million during the quarter. In comparison to last year, this is capital outflow increase of SEK 29.1 billion. German bonds generated the greatest interest among Swedish investors while Danish and Dutch bonds were net sold to the greatest extent.
Calmer trade in shares
Cross-border trade in shares resulted in a net outflow of SEK 3.1 billion. This form of trade produced in net outflow of SEK 18.3 billion in the previous quarter. Swedish investors purchased foreign shares at a value of SEK 7.4 billion, which is a decrease off SEK 9.2 billion compared to the previous quarter. England and Spain attracted the greatest interest while Finnish and Norwegian shares were not sold to the greatest extent.
Foreign investors bought Swedish shares for a net value of SEK 4.2 billion. Foreign investors mainly purchased Swedish bank shares. Teliasonera was sold to the greatest extent.
Revision of trade in Swedish securities
Due to revised information from more extensive reports from a major data provider, the statistics about trade in Swedish securities has been adjusted. The revision includes the fourth quarter 2009 and means that foreign investors' net purchase of Swedish securities has been adjusted upwards by SEK 18.5 billion. Revisions for older periods will be published with the next publication.