Europe is running out of safe assets

The European Central Bank announced a 0.75 percentage-point rise in interest rates in September. (Photo: AFP) — The European Central Bank announced a 0.75 percentage-point rise in interest rates in September. (Photo: AFP)

wsj

3 min read . Updated: 20 Sep 2022, 05:32 PM IST Jon Sindreu, The Wall Street Journal

German debt has become massively overbid in cash and repo markets, underscoring the panic over the eurozone’s economic outlook

Investors have a problem: As the European Central Bank raises interest rates and the eurozone economy edges closer to a recession, they may not have enough places to hide.

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