In November, Danish investors net purchased foreign bonds.
Foreign investors net purchased Danish shares and Danish bonds, in particular treasury bills and mortgage bonds.
Despite the increased volume of Danish bonds, the foreign ownership share of DKK-denominated bonds fell to 17.9% in November.
Foreign investors now hold DKK 37bn in treasury bills, which amounts to around 85.1% of the total stock - close to the 2013 high.
The portfolio of government bonds held by foreign investors now amounts to DKK223bn - 35.1% of the total amount. This is the highest share since October 2012.
Foreign investors hold DKK355bn in DKK-denominated mortgage bonds, which amounts to 13.4% of the total stock.
Foreign investors' portfolio of Danish bonds is more or less evenly split between different maturities with a slight overweight of bonds with a remaining maturity of one to five years.
Overall, the latest data suggests that foreign investors' appetite for Danish bonds was roughly unchanged in November. The high appetite is supportive for the DKK and may contribute to explaining why there has not been any pressure on the DKK since January.
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