European Fixed Income Markets

This book offers a clear, insightful perspective on the post-euro fixed-income markets of Europe. The introduction of the euro in 1999 cast a new focus on the financial markets of constituent euro-zone countries which have subsequently seen their domestic markets emerge as the second largest bond market in the world after America, with bonds being the most important asset-class-rivalling equities. Such critical size and importance results from the harmonization of macro-economic targets, and has considerably broadened the scope of individual national debt markets. The essential characteristics and institutional details of the fixed-income markets of euro-zone countries as well as their individual fixed-income market are introduced and discussed by 26 prominent international academics and market practitioners. Their unique and detailed country analyses of both the euro and non-euro European countries will add measurably to an understanding of these markets. There has been a paucity of volumes with extensive coverage of the fixed-income markets of the euro area since the inception of the euro, and this book aims to partially fill that void. The book will be of interest to institutional investors, bankers, corporate treasurers, etc.