Realobligationer - En analys av den svenska marknaden och riskpremien gentemot nominella obligationer

Sammanfattning: Over the last 25 years a new asset class has been developed in Sweden. Inflation linked bonds which are issued by the Swedish national debt office. The asset class has not yet been covered in many academic articles despite that the market size for inflation linked bonds is over 200 billion SEK in Sweden. My study will mainly focus on two things; the development of the Swedish market; the risk premium between inflation linked bonds and the regular nominal bonds. By bootstrapping a spot rate curve I have made comparisons to determine the risk premium. My studies show a negative risk premium for inflation linked bonds. This indicates that investors have required a higher return despite not being exposed to the risks of inflation.