Governments, banks and corporates are issuing more longer-dated bonds, in a sign of increased confidence among investors on the prospects for the global economy.
The shift towards longer-term bonds is expected to reduce refinancing risks in 2011 and 2012, easing worries that a build-up of debt maturing might make it more difficult for governments and companies to renew loans.
Issuance of longer-dated bonds maturing over 15 years or more has risen to 20 per cent over the past three months compared with 10 per cent in December last year, according to Dealogic.
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