Stability Bonds would facilitate portfolio investment in the euro and foster a more balanced global financial system. The US Treasury market and the total euro-area sovereign bond market are comparable in size, but fragmentation in euro-denominated issuance means that much larger volumes of Treasury bonds are available than for any of the individual national issuers in the euro area. On average since 1999, the issuance size of 10-year US Treasury bonds has been almost twice the issuing size of the Bund and even larger than bonds issued by any other EU Member State. According to available data, trading volumes in.
