欧元债券及信贷衍生产品市场分析

An Analysis on Eurobond Market and Credit Derivatives

欧元的国际化进程备受世人关注。本文以国际债券市场为例,分析了欧元债券的市场规模、发行人组成和利率结构。研究表明,欧元诞生以来,在国际债券市场中的份额稳步增加,成为国际债券市场最重要的产品之一;发行主体逐步多元化,吸引了广泛的国际发行人和投资者;在国际货币的竞争中,欧元显示出自身的竞争力。研究欧元国际化进程,能够对今后人民币的国际化提供有益借鉴。

The internationalization of the Euro gets the world＇ s attention. This paper studied the share of Eurobonds in global market, the profile of Eurobond issuers and its coupon structures. We found that the Euro has become one of the most important currencies in world bond market and increasingly attracts extensive governments and enterprise issuers. Studying the internationalization of the Euro could benefit RMB internationalization process.