The vanishing of public deficits in Germany and the ECB’s bond purchases under its quantitative easing programme have exhausted the supply of 10-year German government bonds.
Of the 152 European companies likely to be targeted, 52 are British, 23 German, and 20 French, according to a study by Alvarez & Marsal.
The French Treasury issued €77.6bn in medium- and long-term securities in the first quarter. This amounted to 38.8% of its full-year issuance schedule, at an average yield of 0.42%.
The Frankfurt securities market operator confirmed yesterday that it was in talks with Refinitiv to acquire FXall, a few days after announcing the acquisition of Axioma.
The global profits champion, Saudi Aramco, is launching its first-ever first bond issue.
Far from celebrating the EU’s virtues, European elections are likely to highlight its divisions.