Fylkir gleðr í folki
flagðs blakk ok svan Hlakkar;
Ôleifr of viðr élum
Yggs gǫgl fegin Skǫglar.
Fylkir gleðr blakk flagðs ok svan Hlakkar í folki; Ôleifr of viðr gǫgl Yggs fegin élum Skǫglar.
The ruler gladdens the steed of the troll-woman [WOLF] and the swan of Hlǫkk <valkyrie> [RAVEN/EAGLE] in battle; Óláfr makes the goslings of Yggr <= Óðinn> [RAVENS] joyful with the storms of Skǫgul <valkyrie> [BATTLES].
[4] Yggs: so C, ‘ygs’ R, Tˣ, 761bˣ, ‘[…]’ B, ‘ýggs’ 744ˣ
[3, 4] gǫgl Yggs … élum Skǫglar ‘the goslings of Yggr <= Óðinn> [RAVENS] … with the storms of Skǫgul <valkyrie> [BATTLES]’: Yggs, gen. sg. of the Óðinn-name Yggr ‘terrible, fearsome one’, is clearly needed here, rather than ýgs, gen. sg. of the adj. ýgr ‘fierce, fearsome’.