Europe’s Regional Debt Market Is on a Fast Track Back to Normal
- Regional debt sales are expected to fall back to 2019 levels
- State bonds tend to offer a little more yield than sovereigns
This article is for subscribers only.
Europe’s market for state and local debt is on its way back to pre-pandemic size.
As businesses reopen and tax revenues fill government coffers, finance officials are winding down their emergency programs and reining in expansive borrowing. Bond sales have already dropped dramatically from last year’s peak, and experts at JPMorgan Chase & Co. and UniCredit Bank predict the market will soon return to levels similar to 2019.