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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SWEDEN
Yesterday Swedish Prime Minister Stefan Lofven announced his intention to stand down as leader of the centre-left Social Democrats and prime minister in November 2021 after seven years as head of the Swedish gov't. Lofven's resignation sparks a leadership contest within the Social Democrats, who will select a new head during the party congress from 3-7 November.
- Earlier this year, Lofven became the first Swedish prime minister to lose a confidence vote in parliament after proposals to end rent controls resulted in the socialist Left Party voting alongside the opposition parties of the right to rebuke the PM.
- Following the vote Lofven was able to re-form his minority gov't with the environmentalist Greens and gain the support of the Left once again in a confidence-and-supply agreement. However, the incident left Lofven politically wounded.
- There is no clear successor to Lofven within the Social Democratic Party, although Swedish outlet TT touted finance minister Magdalena Andersson as a potential replacement.
- Opinion polling in recent months have shown the Social Democrats holding onto a narrow lead over the centre-right Moderates and the right-wing populist Sweden Democrats. The party making significant gains, though, in polls has been the far-left socialist Left Party, now polling in a clear fourth place in most polls (see chart below).
Chart 1. Swedish General Election Opinion Polling, % and 6-Poll Moving Average
Source: Sifo, Demoskop, Novus, SKOP, Sentio, Ipsos, SCB, MNI. N.b. Each dot indicates individual polling result.
- Lofven stated that one of the primary reasons for his resignation was to allow the new Social Democratic leader to build some momentum going into the next general election, due to be held on 22 September 2022.
- While there is a potential for a snap election should the gov't fall apart after Lofven's departure, opposition parties may hold off on seeking a vote. This is because even if a snap election takes place, the September 2022 election would go ahead regardless given Sweden's unbreakable 4-year electoral cycles.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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