Danske Bank recommends investors buy Norway's 2.00% May 2023-dated government bond asset swapped in a box versus Germany, expecting

them to benefit from an anticipated strengthening of the Norwegian krone. "A stronger NOK, more swap-hedging from Norwegian corporates and little NGB [Norwegian government bond] supply for the rest of 2018 should make NGBs more expensive," says Danske's chief analyst Jakob Ekholdt Christensen. The Norges Bank has flagged an intention to raise the key rate by 25 basis points to 0.75% at its September meeting. - via WSJ