Austria is considering a second €3bn sovereign bond issue with one-century maturity; in September 2017, Vienna was the first to issue €3.5bn of 100-year bonds. Since, Belgium and Ireland have followed with their own issues.
The timing for the Austrian issue is timely, with US, Japanese, British, and Eurozone interest rates being low. This creates a challenge for so-called “fixed income” funds in the insurance sector. Seeking higher yields and low volatility, risk-averse institutional investors ...

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