The present invention relates to an aqueous binder composition comprising (a) at least one emulsion polymer comprising as monomer units a C.sub.1-C.sub.8 alkyl (meth)acrylate, a vinylaromatic compound having up to 20 carbon atoms or mixtures thereof, (b) at least one water-soluble alkyd resin having a weight-average molecular weight of between 5000 and 40 000 Da, and (c) at least one alkyd resin having a weight-average molecular weight of more than 100 000 Da in the form of an aqueous emulsion, wherein the solids content of the mixture of (a), (b), and (c) is less than 60% by weight, and also to their use and preparation.

 
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