Global funding trends in capital markets in 2016

Alberto Fuertes (), José Manuel Marqués and Luis Molina Sánchez

Economic Bulletin, 2017, issue MAR, No 06

Abstract: Bond issuance increased moderately in the developed markets in 2016, partly due to the ongoing fiscal consolidation in the main economies. Placements by companies with better credit quality and by the banking sector were notably buoyant. Across countries, however, there were significant differences, both in terms of the conditions of supply of bonds by issuers (the cyclical position of each economy, the need for deleveraging by businesses and the public sector, and the regulatory requirements in the financial sector) and in terms of the factors affecting the demand of investors (risk appetite, the search for yield in a context of negative interest rates and the role of central banks in bond purchases). With regard to the emerging economies, they continued to have access to the markets. However, the volatility observed in foreign exchange markets led to a certain preference for foreign-currency issuance, especially in US dollars.

Date: 2017
Note: Analytical Articles
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.bde.es/f/webbde/SES/Secciones/Publicaci ... s/beaa1701-art6e.pdf (application/pdf)

Related works:
Journal Article: Global funding trends on the capital markets in 2014 (2015)
Journal Article: Global funding trends on the capital markets in 2013 (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bde:journl:y:2017:i:3:d:aa:n:6

Access Statistics for this article

More articles in Economic Bulletin from Banco de España Contact information at EDIRC.
Bibliographic data for series maintained by Ángel Rodríguez. Electronic Dissemination of Information Unit. Research Department. Banco de España ().