Politics play part as sovereign market evolves
Political developments helped shape the near and long term picture in the European sovereign debt markets this week, as a change at the top of the Italian government pushed the country’s secondary yields down near record lows — providing superb conditions for when the Italian treasury decides to come with a first syndication of the year. Meanwhile, the UK granted the devolved Scottish government bond issuing powers from the 2015-2016 financial year.
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