European nations look set to lower the length of their borrowing as an overhaul of the Dutch pension system reduces demand for longer-maturity bonds.
Changes may be announced in coming weeks as governments unveil bond issuance plans for 2026. In an early sign of what lies ahead, Austria’s debt chief said this week that it has “room to go lowerBloomberg Terminal” in the average maturity of its debt after years of targeting longer tenors.