Upward revision of EA sov. bond issuance amid economic and fiscal risks
In breve
Despite the turbulent first months of 2025, euro area (EA) treasuries have already placed a large volume of government bonds on the market. However, we see upside risks to our previous EA annual bond issuance forecast due to the weak economic development – triggered in part by the uncertainty caused by US tariff policy – as well as the debt brake reform adopted and the special fund to finance defence spending in Germany.
