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International-UN-NGOs |
Euro displaces dollar in bond markets |
2007-01-15 |
The euro has displaced the US dollar as the worldÂ’s pre-eminent currency in international bond markets, having outstripped the dollar-denominated market for the second year in a row. The data consolidate news last month that the value of euro notes in circulation had overtaken the dollar for the first time. Outstanding debt issued in the euro was worth the equivalent of $4,836bn at the end of 2006 compared with $3,892bn for the dollar, according to International Capital Market Association data. Outstanding euro-denominated debt accounts for 45 per cent of the global market, compared with 37 per cent for the dollar. New issuance last year accounted for 49 per cent of the global total. That represents a startling turnabout from the pattern seen in recent decades, when the US bond market dwarfed its European rival: as recently as 2002, outstanding euro-denominated issuance represented just 27 per cent of the global pie, compared with 51 per cent for the dollar. |
Posted by:Steve White |
#8 Bonds? Euros? Considering the gulf between GDP and debt of the major players in Europe, I would indeed suspect a very big bond market, though not one I'd invest in. |
Posted by: Procopius2k 2007-01-15 21:21 |
#7 :-) |
Posted by: trailing wife 2007-01-15 19:14 |
#6 I don't care what denomination they use out there, so long as they change to Sorry, Ima couldna help myself. |
Posted by: Shipman 2007-01-15 17:08 |
#5 Whatever. In my ignorance, I don't care what denomination they use out there, so long as they change to dollars when they sell/buy with us. |
Posted by: trailing wife 2007-01-15 12:22 |
#4 The sky is falling!!!! The sky is falling!!!! |
Posted by: bigjim-ky 2007-01-15 11:49 |
#3 I think "experts" used to say that if the dollar stopped being the predominant international currency, its value would collapse, and we'd all be carting wheelbarrows of cash to buy a single loaf of bread. I'm not holding my breath. |
Posted by: Zhang Fei 2007-01-15 01:16 |
#2 "Embracing capital markets" > IOW, PC-speak for massive defict banking and deficit rate conversion processes. And now you know AGAIN why Socialists hate the simple Amer penny to no end. |
Posted by: JosephMendiola 2007-01-15 01:14 |
#1 A sea of debt floats all ships, until ... |
Posted by: phil_b 2007-01-15 00:50 |