Within a few hours, the order book had already reached more than 62 billion euros, a record for a thirty-year transaction. Ultimately, it was decided to issue five billion euros of these OLOs.
There has been a rush on government debt paper for several weeks. Long-term bonds are particularly popular, because they allow investors to lock in higher interest rates before central banks relax their monetary policy, which in concrete terms means lowering interest rates. When Spanish and Belgian debt paper was issued last month, demand was more than ten times higher than supply.
The Debt Agency wants to spend 41 billion euros on OLOs this year. After just over a month, approximately 30 percent – or more than 12.5 billion euros – has already been achieved, it said on Thursday.
2024-02-08 17:06:25
#Record #demand #Belgian #30year #government #bonds #billion #bonds #requested #billion #issued
