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Hedge Fund Bet Tested Amid Danish Housing Rebound: Nordic Credit

Bloomberg – As some hedge funds and asset managers start to question the safety of investing in AAA-rated Denmark, a string of data last week showed the nation’s housing market is mending itself and underpinning a broader recovery.

After slumping 20 percent from peak to trough when Denmark’s housing bubble burst in 2008, the property market is now growing. House prices rose 3.4 percent in February from a year earlier, Statistics Denmark said last week. The number of homeowners unable to meet their payments dropped to a half-decade low in the fourth quarter, Nordea Kredit, a unit of Nordea Bank AB, said on Friday. The Nykredit Index of Denmark’s most-traded mortgage bonds is close to a record high reached on April 16.

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