Helene Durand is deputy global credit editor for IFR Markets and Reuters. She joined Thomson Reuters in May 2011 from EuroWeek. She spent five and a half years at EuroWeek as fixed income editor, and set up the Daily Bank Finance website there. Before EuroWeek, Helene worked at IFR from July 2000 to December 2005. Helene holds a Law degree from Universite de Bordeaux 4 as well as an MA in European Industrial Relations from Warwick University Business School.
The success of Spain’s 30-year bond, the kingdom’s first trade at the tenor in nearly two years, was the latest sign of how comfortable investors are buying peripheral sovereign paper as fears recede that this segment will be hardest hit when the ECB’s quantitative easing ends.
Books for the Kingdom of Spain’s €6bn 30-year benchmark have passed €25.8bn, putting to rest concerns that demand at the long end of the euro market would wane in 2018, with the sovereign on track to beat another syndication record.
The Kingdom of Spain could emerge with a euro 30-year bond this week, according to market sources, after a near two-year break in syndications of this tenor.