Sov pair to print as Covid-19 response costs rocket

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By Lewis McLellan
23 Mar 2020

The first two sovereign benchmarks since February are set to hit the market on Tuesday. Although volatility has not yet abated, bankers are eager for the deals to establish new price points for public sector issuers to start funding their responses to coronavirus.

Sovereigns are making huge promises in order to protect their economies from economic shocks. Germany’s funding volume for 2020 has shot up by €119.5bn to a total of €335.5bn.

France, meanwhile, expects to raise an additional €15.1bn to finance a larger deficit. €5bn will come in the form ...

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