Bonds without Borders: A History of the Eurobond Market

288 Pages·2014·2.52 MB·English

by  Chris O'Malley

Bonds
Bwoithroudt ers

A History of the Eurobond Market
CHRIS O’MALLEY
Foreword by Hans-Joerg Rudloff

Bonds
Without
Borders
ForothertitlesintheWileyFinanceseriespleaseseewww.wiley.com/finance
Bonds
Without
Borders
A History of the Eurobond Market
CHRIS O’MALLEY
Thiseditionfirstpublished2015
©2015ChrisO’Malley
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LibraryofCongressCataloging-in-PublicationData
O’Malley,Chris.
Bondswithoutborders:ahistoryoftheEurobondmarket/ChrisO’Malley.
pagescm
Includesbibliographicalreferencesandindex.
ISBN978-1-118-84388-8(cloth)
1.Euro-bondmarket–History. I.Title.
HG3896.O432015
332.63′23094–dc23
2014029870
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ISBN978-1-118-84388-8(hbk)ISBN978-1-118-84387-1(ebk)
ISBN978-1-118-84386-4(ebk)ISBN978-1-119-01084-5(ebk)
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TomydearsisterKath,andsister-in-law Jan,wholosttheirbattles with
cancerduringthewritingofthisbook.

Contents
ForewordbyHans-JoergRudloff ix
Introduction:FiftyYearsoftheEurobondMarket xi
Chapter1
BeforetheBeginning To1962 1
Chapter2
BuildingtheBase 1963–1969 21
Chapter3
OilandTurmoil 1970–1979 47
Chapter4
MastersoftheMarket 1979–1984 73
Chapter5
GoingGlobal 1985–1989 99
Chapter6
TheDerivativesDash 1990–1995 125
Chapter7
ConvergenceandCredit 1995–1999 145
Chapter8
Of.Com’sandCons 1999–2004 163
Chapter9
Mark-to-Model 2004–2007 187
Chapter10
BustsandBailouts 2007–2010 207
vii
viii CONTENTS
Chapter11
SinkingSovereigns 2011–2013 229
Postscript 247
Glossary 251
Index 259