THE START OF the year saw the usual spectacle of high-grade issuers jostling for position in the new-issue pipeline, mostly meeting with a decent reception. But the failure of a 10-year Bund auction to be fully covered was greeted with general dismay. If the benchmark borrower for the eurozone can suffer a failed auction, what hope is there for the rest of its members?
It is a question that is becoming more frequently asked of sovereign and central bank policymakers.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
