{"id":11355,"date":"2025-09-03T16:42:26","date_gmt":"2025-09-03T15:42:26","guid":{"rendered":"https:\/\/sarasinandpartners.com\/row\/think\/government-bonds-high-supply-but-no-demand\/"},"modified":"2025-10-20T11:23:46","modified_gmt":"2025-10-20T10:23:46","slug":"government-bonds-high-supply-but-no-demand","status":"publish","type":"post","link":"https:\/\/sarasinandpartners.com\/row\/think\/government-bonds-high-supply-but-no-demand\/","title":{"rendered":"Government bonds: High supply, but no demand?"},"content":{"rendered":"<p><strong>Key points:<\/strong><\/p>\n<ul>\n<li><strong>High supply of bonds is here to stay<\/strong> as governments continue to spend heavily, and they are financing this by debt.<\/li>\n<li><strong>Demand for government bonds is structurally weaker<\/strong> as key buyers, such as defined benefit pension funds and central banks, have retreated.<\/li>\n<li><strong>Supply strategies are key<\/strong><strong>:<\/strong> with persistent deficits and elevated issuance needs, governments must adapt by shortening maturities, and aligning issuance more closely with evolving investor demand. We expect this adjustment to gather pace.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Having previously challenged some common myths around government bonds, here we dive into one of the most fundamental changes in the landscape: the supply-demand balance being upended.<\/p>\n<p>It is no secret that governments around the world are spending big. From January to June 2025, the US federal government...<\/p>\n","protected":false},"author":95,"featured_media":15256,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[142,28],"tags":[],"coauthors":[234],"class_list":["post-11355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-house","category-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Government bonds: High supply, but no demand? - Sarasin &amp; Partners Global<\/title>\n<meta name=\"description\" content=\"High supply of bonds is here to stay as governments continue to spend heavily, and they are financing this by debt. Michael Jervis looks at what this means for demand, supply, and bond ownership going forward.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sarasinandpartners.com\/row\/think\/government-bonds-high-supply-but-no-demand\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government bonds: High supply, but no demand? - Sarasin &amp; Partners Global\" \/>\n<meta property=\"og:description\" content=\"High supply of bonds is here to stay as governments continue to spend heavily, and they are financing this by debt. Michael Jervis looks at what this means for demand, supply, and bond ownership going forward.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sarasinandpartners.com\/row\/think\/government-bonds-high-supply-but-no-demand\/\" \/>\n<meta property=\"og:site_name\" content=\"Sarasin &amp; Partners Global\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-03T15:42:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-20T10:23:46+00:00\" \/>\n<meta name=\"author\" content=\"Michael Jervis\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@sarasinpartners\" \/>\n<meta name=\"twitter:site\" content=\"@sarasinpartners\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael Jervis\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sarasinandpartners.com\/row\/think\/government-bonds-high-supply-but-no-demand\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/sarasinandpartners.com\/row\/think\/government-bonds-high-supply-but-no-demand\/\"},\"author\":{\"name\":\"Michael Jervis\",\"@id\":\"https:\/\/sarasinandpartners.com\/row\/#\/schema\/person\/4c00d6a76642b16869b389ab285b9b92\"},\"headline\":\"Government bonds: High supply, but no demand?\",\"datePublished\":\"2025-09-03T15:42:26+00:00\",\"dateModified\":\"2025-10-20T10:23:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sarasinandpartners.com\/row\/think\/government-bonds-high-supply-but-no-demand\/\"},\"wordCount\":84,\"publisher\":{\"@id\":\"https:\/\/sarasinandpartners.com\/row\/#organization\"},\"image\":{\"@id\":\"https:\/\/sarasinandpartners.com\/row\/think\/government-bonds-high-supply-but-no-demand\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/sarasinandpartners.com\/row\/wp-content\/uploads\/2024\/08\/iStock-484546032.jpg\",\"articleSection\":[\"House Report\",\"Markets\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sarasinandpartners.com\/row\/think\/government-bonds-high-supply-but-no-demand\/\",\"url\":\"https:\/\/sarasinandpartners.com\/row\/think\/government-bonds-high-supply-but-no-demand\/\",\"name\":\"Government bonds: High supply, but no demand? - Sarasin &amp; Partners Global\",\"isPartOf\":{\"@id\":\"https:\/\/sarasinandpartners.com\/row\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/sarasinandpartners.com\/row\/think\/government-bonds-high-supply-but-no-demand\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/sarasinandpartners.com\/row\/think\/government-bonds-high-supply-but-no-demand\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/sarasinandpartners.com\/row\/wp-content\/uploads\/2024\/08\/iStock-484546032.jpg\",\"datePublished\":\"2025-09-03T15:42:26+00:00\",\"dateModified\":\"2025-10-20T10:23:46+00:00\",\"description\":\"High supply of bonds is here to stay as governments continue to spend heavily, and they are financing this by debt. 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