Europe Governments Sell €27 Billion Debt, Busiest Week Since 2020
- Governments are grabbing cash before holiday lull in markets
- Weekly syndicated sales reach the highest in three years
This article is for subscribers only.
European governments raised funds at the fastest pace in three years this week, taking advantage of stable market conditions before the usual holiday lull in borrowing and another move higher in interest rates.
Debt sales via banks hit close to €27 billion ($29 billion), with Spain accounting for almost half, having tapped demand in excess of €85 billion to sell €13 billion of 10-year bonds. The European Union came in second with a €7 billion dual-tranche sale on Tuesday.