EU big fish breaches at last with historic SURE splash

By Bill Thornhill, Lewis McLellan
22 Oct 2020

After months of waiting as even the great whites of the SSA oceans kept clear of primary bond sales in anticipation, the EU — now a bond market megalodon by comparison — cruised into a bait ball a quarter of a trillion euros big this week to take a €17bn bite out of its enormous pandemic recovery borrowing programme. Lewis McLellan and Bill Thornhill report.

The EU printed two huge deals in one go on Tuesday: €10bn of 0% October 2030s and €7bn of 0.1% October 2040s to start the funding for its Support to mitigate Unemployment Risks in an Emergency (SURE) programme. The proceeds will be lent to EU member states in their fight against ...

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