Stock market rushes in Asia – the krona strengthens on positive stock market – the stock markets rush on positive reports – SBAB lowers the interest rate, but unemployment rose in March

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The stock markets are racing in Asia and the krona is strengthening on the positive American stock exchanges where the report season causes stocks to race. The state mortgage bank SBAB lowers its variable mortgage interest rate and Swedish unemployment took a significant step upwards in March, reports Statistics Sweden.

The Stockholm Stock Exchange rose by +1.52% for the broad OMXSPI and +1.39% for the major companies’ OMXS30. As often happens with positive stock exchanges, the Swedish krona rose when money returned to Sweden to buy shares and the dollar costs 10:82 SEK while the euro goes for 11:58 SEK. However, the gold price was stable at SEK 809 despite a stronger krona.

In the US, the report party began and the NAsdaq 100 went +1.51% and the S&P-500 +1.20%. Within FANANGST, Spotify stood out, rushing +11.41% on the fact that you actually make a profit. After the close, Tesla reported below the consensus forecast, but is said to have risen in so-called unofficial after-trade as Elon Musk tried to wave off the result by promising both new low-cost models and robot taxis at the same time.

Stock market routs continue in Asia although the ASX 200 is unchanged at -0.01% at time of writing. Hang Seng goes +2.04%, Nikkei 225 +2.42%, KOSPI +1.87% and Straits Times +0.86%.

The state mortgage bank SBAB lowered its variable mortgage interest rate with a unit per thousand and the list rate thus lands at 4.92% and below 5%. The annual interest rate was also lowered, and then to 4.72%. However, interest rates on maturities of two years or longer were raised.

Statsbanken’s CEO says:

“The fact that mortgage interest rates are both lowered and raised is due to us adapting the prices to the change in the interest rate market. Short interest rates are on the way down, while long interest rates have become more expensive. This allows us to lower the prices of mortgages with short commitment periods while we adjust the price of long-term loans up.”

Reduced short-term interest rates show that the market is starting to price in a Swedish interest rate cut to the general joy and the gamma for the Swedish mortgage collective, who are looking forward to being able to outbid each other in the fight for who can take on the most debt for an already existing home.

Then, of course, SBAB’s reductions are taken from the marketing budget and may not fully correspond to market trends. The result is obtained in the event of a reduction from the Riksbank and if SBAB then reduces by the same amount.

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Statistics Sweden’s labor force survey shows rising unemployment, which landed at 8.3% seasonally adjusted and equalized. The actual number of unemployed, not seasonally adjusted, was 525,000 people or up 86,000 and corresponds to a so-called unemployment figure of 9.2% and was an increase of 1.5 percentage points. It is more common for women to be unemployed with 9.3% against 9.1% for men. But these figures are not seasonally adjusted. 78,000 women and 69,000 men were long-term unemployed.

However, the figures are based on surveys, and not registered unemployed with the Employment Service.

At the same time, the employment rate for the age 15 – 74, i.e. including unemployed junior and senior high school youth, is 68.3%, with 65.8% for women and 70.8% for men, and seasonally adjusted employment was 69.1%. And no, there is no one who works an hour a week for the socialists to get prettier statistics, whoever claims that is not an employer but suffers from great personal challenges. 97% of all employed adults work at least 20 hours a week and no employer can handle the admin costs of having someone work for one hour a week – it costs as much in admin to have an employee for one hour as for 40 hours.

Employment rate is better for international comparisons, as we in Sweden generally do not have housewives, and the labor force is therefore higher, which gives higher unemployment in the statistics. But since everything is misery and the fault of their political opponents, they conveniently choose 9.2% non-seasonally adjusted unemployment and say that Sweden is the worst in the EU and that it was better before, instead of looking at employment, where the right-wing site Ekonomifakta (a site called something with -facts that’s how you know it’s political, because no one other than those with a political agenda has to try to hide behind the term factsc.f. the site Politikfakta) lists Sweden as sixth best in Europe and fourth best in the EU.

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