OREANDA-NEWS. Key Developments:

  • The nominal value outstanding of government bonds decreased by €417 million to €120,499 million in July 2016.
  • Within the next 5 years, €49, 532 million of government bonds will mature with €23,345 million maturing within the next 3 years.
  • Outstanding government bonds stood at €120,499 million in July 2016, this is a decrease of €417 million from last month.

Within the next 5 years, €49,532 million of government bonds will mature (Table 1). Of this, €23,345 million will mature in the next 3 years, with a further €26,187 million in the two years after. Non-residents hold 65.5 per cent of these maturing bonds (Chart 1).

Estimated non-resident holdings decreased over the month to €68,050 million, the lowest amount since December 2014.  

The resident Non-Bank Financial sector fell by 2.9 per cent over the month, due to a drop in Pension Fund holdings. However, it is important to note that the resident Non-Bank Financial sector has only partial coverage in our data. Therefore, caution should be exercised when interpreting any movements in this reporting sector.