European debt market sales hit a fresh record-high, as borrowers flocked ahead of the anticipated interest rate hike. EZU is up 0.08% premarket.
- Bond sales hit $107 billion, surpassing the previous record set in 2020 when firms increased their borrowing ahead of the COVID-19 pandemic.
- Among the borrowers that increased funding for the week is Portugal, Spain, and carrier Wizz Air.
- The surge comes after the market closed earlier than normal ahead of the Christmas holidays, and ahead of the winding down of the ECB’s bond-buying.
- Rates in the United States are also expected to be hiked with inflation accelerating further to hit historic highs.
- Analysts believe there is market concern on how the Fed decision and the overall inflation environment on spreads and yields.
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