Gross Govt Bond Issuance in Eurozone Seen Rising in 2027
Dow Jones
Sep 07
0530 GMT - Gross government bond issuance by the eurozone's largest 11 issuers is expected to rise 4% to 1.533 trillion euros in 2027 from 1.472 trillion euros in 2026, Morgan Stanley strategists estimate in a note. "We expect the euro area fiscal stance to remain broadly unchanged in 2027, with the aggregate deficit at 3.5% of GDP (versus 3.4% in 2026)," they say. France and Belgium are set to run the largest deficits, at 5.2% and 5.1% of GDP, respectively. Supply pressure is increasingly concentrated in core and semi-core markets, led by Germany's higher borrowing needs, while Italy sees the largest decline in net supply among the big four issuers [Germany, Italy, France, Spain], they say.
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