Marcus Ashworth, Columnist

Double Trouble for Europe's Bond Savior

Investors aren't really buying and the price is going up.

February 22, 2017 at 6:00 AM UTC

Corrected

February 22, 2017 at 8:04 AM UTC

Marcus Ashworth is a Bloomberg Opinion columnist covering European markets. Previously, he was chief markets strategist for Haitong Securities in London.

Provide news feedback or report an error

Site feedback:

Take our Survey

This article is for subscribers only.

Europe's savior has run into a brick wall.

The European Financial Stability Fund on Tuesday encountered a stunning lack of investor appetite for its long-end debt. It marketed a dual-tranche issue of 4-year securities and a 39-year bond, and investors piled into the first, while barely glancing at the second.