Government bonds primary market

The two main developments in the Euro government bond primary market since the inception of EMU have been the decline in the relative... 

Despite the appearance of many new fixed income assets, the government bond market continues to be, by far, the largest market in the Eurozone. In this chapter we analyse the recent trends in this market, its primary and secondary markets, and the key intracountry spread determinants. 

A primary distinguishing feature of a bond is its issuer. The nature of the issuer will affect the way the bond is viewed in the market. There are four issuers of bonds sovereign governments and their agencies, local government authorities, supranational bodies such as the World Bank, and corporations. Within the corporate bond market there is a wide... 

To ensure the good performance of the bond auctions and a constant pricing of their bonds, the Government Debt Agencies constitute a group of primary dealers for their bond markets. In general terms these institutions (normally investment banks) will have to bid in the auctions... 

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