Yield curve ‘steepening’ best seen as normalisation – ECB study
Long-term borrowing costs surged but overall structure ‘not in an unusual shape’, say economists
Eurozone countries’ debt trajectories and a “common component” explain higher borrowing costs for long-term and very long-term government borrowing, the European Central Bank has said.
In a blog post published on January 16, economists Benjamin Böninghausen and Andreea Liliana Vladu look to disaggregate the surging borrowing costs of eurozone governments at the longer end of the yield curve.
“The euro area risk-free curve is not in an unusual shape right now,” they say. Böninghausen and Vladu say
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