The war will likely have a limited impact

Previous conflicts in the Middle East have had a limited impact on the Nordic high yield market. The effects stem primarily from direct and indirect influences on the oil price. Vinga Corporate Bond has chosen not to invest in oil & gas, and therefore, the direct effects of the war are absent. The reporting season has ended, and overall, we have received positive quarterly reports from our portfolio companies. We expect a positive impact on bond prices once the war is over, especially from the property companies Heimstaden and SBB, whose reports were particularly strong from a credit perspective.

Read Vinga Asset Management’s monthly report at vingacorporatebond.se/en