The market for government bonds has increasingly become the focus, not least due to the massive purchases of central banks since 2015. Whether we consider the European sovereign debt crisis, bail out for eurozone countries, institutions for the settlement of assets or the expansion of economic stimulus – states and institutions close to the state have always been involved.
Within the public issuer segment, we monitor and analyse bonds from sovereign-linked issuer groups (SSAs: supranationals, sub-sovereigns and agencies). For example, we have been publishing a compact annual study of the German federal states since 2010, in which we analyse the German sub-sovereigns and the issuer community of German states in more detail. A report on European supranationals and agencies has also been published annually since 2011. In addition, we keep up with the times and regularly adapt our repertoire to new market developments. Canadian provinces have also been in our coverage since 2015, as they are now significant EUR benchmark issuers. Australia and New Zealand were added in 2019.
Covered Bond & SSA View