EU’s $100 Billion Debt Orders Show Investors Are Favoring Havens
- Bloc gets bids of more than 13 times its €7 billion sale
- Preference for safer debt comes as corporate bond rally stalls
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More than $100 billion of orders have flooded in for the European Union’s latest bond offering, a sign that investors want the safety of haven assets as they turn pickier on new debt.
The EU saw the blowout demand for a combined €7 billion ($7.5 billion) sale of its existing 2029 and 2042 notes on Tuesday, according to a person with knowledge of the sale. The orders for more than €93 billion are 13 times the amount on offer, one of the highest of any deal in Europe this year, according to data compiled by Bloomberg.