(Finance) – The EU Member States and the United Kingdom they have issued bonds and bills for 1,019.3 billion euros during first trimester 2024, representing a 7.4% increase (YoY) from 1Q23. Non-eurozone countries saw the largest increase in total issuance (bonds and securities) during the first quarter, with UK gross gilt issuance increasing by 34% year-on-year, according to a report by the Association for Financial Markets in Europe (AFME).
Excluding institutional issuance by the EU CommissionEU Member States and the United Kingdom issued €1,019.32 billion in bonds and bills during the first quarter, representing an increase of 7.4% year-on-year and 37.2% quarter-on-quarter.
They have registered Record trading volumes of European government bonds (EU+UK) during the first quarter of 2024, according to TraX data from MarketAxess. The amount traded in the first quarter of 2024 was the highest average daily trading volume for European government bonds since records began in 2014, with trading volume up 20.3% quarter-on-quarter and 26.7% year-on-year.
Average daily trading volumes of European government bonds are supported by a significant increase in trading in Denmark (64% YoY), Italy (45% YoY) and United Kingdom (33%). There was a significant decline in trade in Finland (-65% YoY), Romania (-47% YoY) and Sweden (-29% YoY).
The volume in circulation of ESG European government bonds reached 475.9 billion euros during the first quarter of 2024, with volumes driven by new green bonds issued by France (7 billion euros), Germany (6 billion euros), United Kingdom (€5.5 billion) and Italy (€3.7 billion). ). The European Commission issued an additional €5.8 billion in NGEU green bonds.