Eight banks ‘formed European government bonds cartel’, says EC

Sub-sovereigns

Toronto Skyline and swan swimming on Ontario lake - Toronto, Ontario, Canada

‘Well-known, liquid’ Ontario ready to tackle 2025-26 funding

Province ‘well within comfort zone’ with borrowing target despite enlarged deficit

Addison Gong, June 16, 2025

SSA

SSAs accelerate funding, despite defence and trade stresses

The year is not yet at its halfway point but, already in 2025, global bond markets have had to face anxiety about European and US governments wanting to spend more, including on defence, and fears about the aggressive trade policy of the new US administration. During these testing times, however, new issue data demonstrate the resilience and flexibility of the primary market, writes Addison Gong

Addison Gong, June 16, 2025

SSA

Rebalancing needed to create fresh opportunities for SSAs

As volatility continues to plague the US Treasury market, public sector issuers have found themselves at the centre of attention of investors seeking high quality, liquid assets as an alternative investment to US Treasuries. Market participants eagerly await further evidence in the coming months of any meaningful shift in investors’ behaviour. The early signs are certainly encouraging, writes Addison Gong

Addison Gong, June 16, 2025

SSA

Questions linger over US Treasuries as government chases economic goals

US Treasuries have long been the foundational asset underpinning the global financial system. But recent policy proposals from the White House have shaken this foundation, and what this means for capital markets participants seems perilously uncertain, writes Elias Wilson

Elias Wilson, June 16, 2025

SSA

Defence spending presents mountainous challenge to public sector debt issuers

To secure their countries in uncertain times, governments around the globe are set to increase defence budgets to a size that has been rarely achieved in a generation. Strained public finances suddenly present an immediate barrier to the security of the public and key players in the capital markets are rushing to act, writes Elias Wilson

Elias Wilson, June 16, 2025

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