German

Europe takes record-breaking €104bn share

Fixed income investors could face a challenging end to the year, as the combination of shrinking central bank balance sheets and still solid growth data could be a headwind for bonds.

With the Catalan crisis stalled, for now at least, all eyes have been on political risk in Italy and some arduous deal-making in Germany. After Sunday's result, Italy is likely to lurch into some frenzied horse-trading, but where will Merkel's new coalition...