UK debt agency considering change to linkers: Robert Stheeman interview

With government budget deficits growing rapidly across Europe and in the US, sovereign debt issuance is facing increased scrutiny. The chief executive of the UK’s Debt Management Office, Robert Stheeman, talks about the challenges his agency faces

Stheeman, DMO: pricing issues over RPI/CPI switch

Investors were last year forced to reconsider what had, until then, been a rock-solid assumption: that Eurozone government debt is risk-free. The rescues of Greece and Ireland drummed home that debt-laden sovereigns were vulnerable, and resulted in a raft of stability measures, including the European Financial Stability Facility (EFSF) – a vehicle that issues Eurozone member-guaranteed bonds to finance the bailout of struggling countries.

The impact of these measures could reverberate well

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