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- The total amount outstanding on the NEU CP and NEU MTN market stood at €336.9bn in August 2023 (+€56.4bn over one year). This increase is attributable to the NEU CP segment (+€52.7bn over one year). In this segment, financial issuers in particular saw their outstanding rise sharply (+€70.1bn year-on-year), while outstanding of non-financial entities (corporates) fell by €10.6bn to €59.5bn. Outstanding in the NEU MTN segment rose slightly by €3.7bn over one year (+9.6%) to €42.1bn.
- NEU CP issuances by the financial sector decreased in August 2023, mainly for the shortest maturities (10 to 40 days), to €105.8bn compared with €111.22bn the previous month. Issuances by non-financial entities fell in August 2023 to €19.9bn from €31.8bn in July 2023, along with the decline in 3-month maturities. Corporates’s outstanding amount remained stable over the month, at €59.4bn.
- Finally, public sector issuances fell to €13.1bn in August 2023 from €14.3bn in July 2023.
- Yields continue to rise in the context of monetary tightening in the euro zone. However, the increase is now concentrated on the short end of the curve.
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