Hǫrs gnótt hrunda sléttum
hljóðs kveðk mér at óði
randhvéls rennu Þundi;
Rekstefju tekk hefja.
Skýrunn* skjaldar linna
skalk fríðum lof smíða
þing-Baldr Þróttar mildum,
þeims fremstr varð beima.
Kveðk mér hljóðs gnótt hrunda hǫrs at sléttum óði Þundi rennu randhvéls; tekk hefja Rekstefju. Skalk smíða lof fríðum skjaldar linna skýrunn*, mildum Þróttar þing-Baldr, þeims varð fremstr beima.
I ask silence for myself from the great number of valkyries of linen [WOMEN] for the smooth poem about the Þundr <= Óðinn> of the rush of the rim-wheel [SHIELD > BATTLE > WARRIOR = Óláfr Tryggvason]; I commence Rekstefja (‘Split-refrain’ (?)). I will forge a praise-poem for the handsome tree of the cloud of the snakes of the shield [(lit. ‘cloud-tree of the snakes of the shield’) SWORDS > SHIELD > WARRIOR = Óláfr], for the generous Baldr <god> of the assembly of Þróttr <= Óðinn> [(lit. ‘assembly-Baldr of Þróttr’) BATTLE > WARRIOR = Óláfr], who was the best of men.
[1, 2] kveðk mér hljóðs gnótt hrunda hǫrs ‘I ask silence for myself from the great number of valkyries of linen [WOMEN]’: The skald’s request for silence is surprisingly directed towards women, who are addressed again at the close of the poem, st. 35/7-8, though a male audience seems to be indicated by st. 24/1, 3. There is no obvious explanation for this.